RESEARCH
Korean Market Research
Deeper research into structural shifts across industries, companies, policy, and markets.
Latest Research
Diesel, Not CrudeIn September, New York Harbor diesel spot prices were up 107% from a year earlier—roughly twice the 52% rise in crude. Crude prices alone no longer tell the fuel-cost story. We examine how the measures announced before the November 3 U.S. midterm elections could work, and what the numbers mean for inflation and Korean industries.
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Where Did $690 Billion Go?Korea's net international investment position fell by $689.5 billion in Q2 2026. That was not an equivalent capital outflow. A fact-check of transactions, equity valuation and external liabilities using Bank of Korea statistics.
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All reportsResearch2026-10-03 · 22 min read
The Engine Is the Bottleneck
As grid and gas-turbine queues lengthen, some data-center on-site power demand is shifting to four-stroke engines. Snowshagal Research NO.08 traces where shipboard generators and data-center power plants meet on parts of the same medium-speed manufacturing and test base—and how long that bottleneck can last.
Research2026-09-27 · 23 min read
The cash is already there
In Q1 2026, South Korean nonfinancial corporations swung from net borrowing to net lending. Snowshagal Research NO.07 traces where that cash is now and whether it moves into capex, overseas investment, shareholder returns, M&A, or remains unallocated.
Research2026-09-19 · 18 min read
Are Humanoids Really Working?
The question after more than 20,000 humanoids shipped: separating units shipped from actual work, human intervention and economics, then locating Korea in the industry using public evidence. Snowshagal Research.
Research2026-08-29 · 20 min read
Behind the Coin Are Treasuries
Stablecoins do not buy America’s 30-year debt. This research traces how, under the GENIUS Act framework, global dollar demand connects to U.S. Treasuries maturing in 93 days or less.
Research2026-08-23 · 11 min read
America’s Costlier 30-Year Money
RESEARCH NO.04 · America’s 30-Year Money. Breaking down what makes up a 30-year yield above 5%, and asking which prevails first if that price persists: America’s strength or its burden.
Research2026-08-16 · 4 min read
Interest on the Chip
Special Research · Can a GPU Become a Bond? Following how AI compute is turning into a financial asset after NVIDIA and six financial firms announced a $500bn compute-financing platform on August 10, 2026.
Research2026-08-09 · 9 min read
Who Holds the Keys?
A special research report on what sovereign AI is meant to protect, which layers—model, compute, data and operational control—make AI meaningfully ours, and how fifteen countries and regions have made different choices, including the NAVER–NVIDIA case.
Research2026-07-29 · 6 min read
Two Illusions
The first mistakes two different metrics for the same number; the second confuses the cause with the amplifier. Beneath the visible flows, we read the submerged structure.