In particular, Samsung Electronics leaped a combined 4.06 percent on Tuesday and Wednesday, recovering to the 2.5 million-won ($2,344) level for the first time in 1 1/2 months. SK hynix finished at a new high of 90,700 won Wednesday.

In step with their price surges, makers of chip components and equipment also saw their share prices jump in recent sessions.

Shares of Unisem, a leading semiconductor equipment manufacturer, skyrocketed 18.24 percent in the last four trading sessions alone.

The recent surge in chip shares stems from eliminated fears over an industry slowdown as DRAM prices have maintained their uptrend in the first quarter, which is usually deemed an offseason for the sector.

That has prompted market analysts to revise up their forecasts of the two chip giants' earnings for the January-March period.

As of Thursday, the market consensus for Samsung's first-quarter operating income stood at 14.58 trillion won, while that for SK came to 4.36 trillion won. Both figures inched up from estimates a week earlier.

Market watchers also offered a rosier outlook for SK's full-year earnings. The market consensus of SK's operating income for all of 2018 has been upgraded to 17.84 trillion won from 17.43 trillion won a month earlier.

Some analysts, however, are conservative about the chip industry's business down the road.

"The recent rise in DRAM prices results from a bottleneck in the supply chain rather than a recovery in demand," said Yoo Jong-woo of Korea Investment & Securities Co. "If the price upturn lasts under the current situation, demand could weaken further." (Yonhap)