4 Conditions for Reasonable Project Finance AI Data Center Loans

Oct 21, 2026 12 min read --

When lending billions of dollars for AI data centers, lenders look closer at the contracts than at the company’s brand name.

CoreWeave Interest Expense: $640 Million, One-Quarter of Revenue

Oct 21, 2026 11 min read --

There are quarters where the operating loss is only $49 million, but the net loss swells to $626 million. This is the result of CoreWeave’s interest expense—specifically, its net interest expense—reaching $640 million in the second quarter of 2026, which accounts for about 25% of its $2.575 billion in revenue. It means …

What is CoreWeave? The GPU Rental Company Built on Debt and the AI Bubble Debate

Oct 20, 2026 11 min read --

The name CoreWeave appears frequently in AI stock news. CoreWeave is a company that purchases NVIDIA GPUs and leases them to AI firms, financing these purchases through debt. With Q2 2026 revenue of $2.575 billion (roughly 2.1x year-over-year) and a net loss of $626 million, the company sits at the heart of the AI …

Stablecoin Side Effects: How Accurate Are the Crisis Theories? (2026)

Oct 04, 2026 17 min read --

While watching a video about how the growth of stablecoins could actually pose a risk to the U.S., I paused at a specific number.

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27.5 Trillion Won in Private Education Costs through the Lens of the Prisoner's Dilemma

Sep 29, 2026 7 min read --

Hearing that a neighbor has added another private academy to their child’s schedule makes one feel anxious for no reason.

Goldman Sachs Yen Forecast: Why 165 Yen Became 150

Sep 29, 2026 8 min read --

Three months ago, they said it would hit 165 yen to the dollar. Now, they say it’s heading to 150.

Mental Accounting Experiment: Using 10 Envelopes Instead of One Reduces Coupon Usage

Sep 29, 2026 7 min read --

‘My OTT subscription budget is 50,000 won this month.’ Even those who don’t keep a household ledger have these mental compartments.

Social Preference Experiments: People Who Hand Over Half of Their 10,000 Won

Sep 29, 2026 7 min read --

When you send money to a stranger, it triples upon arrival, but you have no way of knowing how much you will get back. In a 1995 Trust Game experiment, participants sent an average of $5.16 out of the $10 they received.

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The AI Job Crisis Starts with Entry-Level Hiring, Not Layoffs

Sep 29, 2026 8 min read --

News about companies firing employees due to AI is rare, but entry-level positions are quietly disappearing. This suggests that the AI job shock is manifesting in entry-level hiring long before it reaches the stage of layoffs.

50 Quadrillion Won in Debt: The 5 Real Reasons for the Rise in U.S. National Debt

Sep 28, 2026 6 min read --

U.S. National Debt of $40 trillion is not the result of a single mistake, but the accumulation of five overlapping factors. Since 2001, tax cuts, increased spending, and two major crisis responses have ballooned the debt, and we have now entered a phase where aging-related mandatory spending and interest costs are …

The Future of Dollar Hegemony: What Are the Real Variables Among Debt, BRICS, and Stablecoins?

Sep 28, 2026 6 min read --

The three variables often cited as threats to dollar hegemony are not pulling in the same direction. BRICS’ de-dollarization is narrower than perceived, and stablecoins actually boost demand for the dollar. What could truly weaken the dollar is the $40 trillion debt the U.S. has accumulated itself.**

The Triffin Dilemma: A 65-Year-Old Warning Targets My Dollar Assets

Sep 28, 2026 8 min read --

The Triffin Dilemma is a structural paradox where the more a reserve currency nation supplies money to the world, the more that currency’s credibility is eroded. This warning became a reality with the 1971 Nixon Shock, and today, it is re-emerging with U.S. Treasuries taking the place of gold. For Korean investors with …

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Korea-US Interest Rate Comovement: Why Does Korea Follow the US?

Sep 28, 2026 9 min read --

Whenever news breaks that the US has raised interest rates, Korean government bond yields often jump in response. The primary cause of this Korea-US interest rate comovement is not the US interest rate itself, but the inflation shock that hit both countries simultaneously (41.0% contribution), and this shock is …

Reclaiming the #1 Spot in Exports to China After 7 Years: Why Is It Not Entirely Welcome?

Sep 28, 2026 10 min read --

From September 1st to the 20th, exports to China surged by 113.8% compared to a year ago. That is more than double the previous figure.

The Impact of Interest Rate Hikes on Housing Prices Fades Within Two Years

Sep 28, 2026 7 min read --

Why do Seoul apartment prices keep rising for 85 consecutive weeks even though interest rates have been hiked twice? According to an analysis by the Korea Research Institute for Human Settlements (KRIHS):

U.S. Long-term Interest Rates Now Move Independently of the Fed Funds Rate

Sep 28, 2026 7 min read --

When the base interest rate rises, long-term interest rates usually rise, and when it falls, they follow suit. Textbooks generally say so.

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US Treasury Yields Break 5%: This Time, There’s No One to Buy

Sep 28, 2026 10 min read --

Whenever yields spiked, someone always stepped in to scoop up bonds, calling them “cheap.” That was the case in March, May, and July of this year.

Why the ADB Upgraded South Korea's Growth Forecast to 3.2%: A 1.3%p Jump in Five Months

Sep 28, 2026 7 min read --

It is rare for a growth forecast to shift by as much as 1.3 percentage points in just five months.

The Real Threat of China's Semiconductor Rise Hidden by the AI Boom

Sep 26, 2026 9 min read --

Semiconductor news this summer has been nothing short of ‘historic.’ Memory prices have surged, semiconductors accounted for 38.7% of Korea’s total exports in the first half of this year, and the combined market capitalization of Samsung Electronics and SK Hynix has exceeded half of the KOSPI.

It's Called De-dollarization, But Why Is the Dollar Still Number One?

Sep 17, 2026 13 min read --

When scrolling through economic news portals, one sentence has been appearing quite frequently lately. “Central banks dump the dollar for gold.” At first, I didn’t think much of it, but after seeing similar headlines for several months, I became curious.

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Why "Please Pay by Card" Is More Frightening Than Voice Phishing

Sep 17, 2026 14 min read --

An elderly woman looking worried while holding a credit card while on the phone

Can the Yuan Surpass the Dollar with CIPS?

Sep 15, 2026 13 min read --

On September 12, the BRICS summit was held in New Delhi, India. BRICS Summit in India

China's Unhidden Dual Economy: The Hidden Side of 'New Quality Productive Forces'

Sep 15, 2026 13 min read --

While browsing economic news last week, I noticed something strange. On one hand, there are headlines about China’s semiconductor equipment investment hitting an all-time high, while right next to it, reports show China’s real estate construction area has slumped once again. It’s the same country, the same month, yet …

It's Not Oil, but Sugar That Signals the Next Energy Crisis

Sep 15, 2026 11 min read --

Have you ever felt something strange while standing in front of a supermarket shelf? I’ve often felt that the timing of rising sugar prices and news reports about fluctuating oil prices keep overlapping. At first, I thought it was just my imagination.

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The Shadows of the Chinese Economy Revealed by 35 Months of Negative PPI

Sep 15, 2026 14 min read --

From parts 1 to 4, we followed how New Productive Forces policies move money, and how that capital manifests in dark factories, AI models, and quantum security networks. It was a story of splendor.

Why China is Planting Quantum Tech in its Banking Networks

Sep 15, 2026 7 min read --

At this very moment, some of the encrypted data traveling across the internet may already be secretly copied and stored on servers by someone. It doesn’t matter if they can’t decrypt it now. The calculation is that once quantum computers are commercialized in about 10 years, they can simply decrypt it all at once.

Why China is Releasing Top-Tier AI Models as Open-Weights

Sep 15, 2026 12 min read --

The dark factories and robots discussed in Part 2 need a brain. The companies building those brains all gathered in Shanghai last summer for the World Artificial Intelligence Conference (WAIC) 2026.

Why China's Prodigy Programs Have Increased Enrollment by 8x

Sep 15, 2026 13 min read --

In part 3, I briefly mentioned that DeepSeek founder Liang Wenfeng is an alumnus of Zhejiang University. However, following this series to the end, I realized that line was actually part of a much larger story.

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Why the Lights-Out 'Dark Factory' Trend is Spreading to Cities

Sep 15, 2026 13 min read --

Last December, South Korean Minister of Trade, Industry and Energy Kim Jeong-gwan made headlines after visiting Xiaomi’s electric vehicle (EV) plant in Yizhuang, Beijing, and sharing his experience on social media.

The Illusion of 47% Food Self-Sufficiency: The Truth Behind Grocery Prices

Sep 14, 2026 6 min read --

“Is it true that a single pack of ramen costs 2,000 won?” Last year, President Lee Jae-myung asked this question during an emergency economic inspection task force meeting.