$SKHYNIX history is always astonishingly similar
I’ve been wondering why every time there’s a crash, there’s always a Korean presence?
In the 1997 Asian financial crisis, Korean companies and banks expanded aggressively by borrowing dollars. When foreign capital pulled out, dollar liquidity snapped, forcing Korea to accept IMF rescue.
In the 2000 dot-com bubble, all of Korea was trading tech stocks. KOSDAQ plunged over just a few months.
In the 2008 financial crisis, U.S. subprime mortgages blew up. But because Korean banks had high foreign-currency liabilities, the won and the stock market were hit hard.
In 2021, China concept stocks: Bil Hwang, a Korean-heritage investor, and his Archegos fund used extreme leverage. The fund’s positions collapsed, triggering multiple investment banks to rush and sell.
In 2022, crypto: Do Kwon of South Korea’s LUNA and UST collapsed, and more than $40 billion disappeared.
And there’s the “kimchi premium” for Bitcoin—at its peak, the price of BTC in Korea was about 30% higher than overseas.
In 2026’s memory cycle, behind Samsung and SK Hynix, once again, a large amount of leveraged capital has appeared.
Korea isn’t always the starting point of every crisis, but it often is where market sentiment becomes the most insane and leverage is at its highest.
I’ve been wondering why every time there’s a crash, there’s always a Korean presence?
In the 1997 Asian financial crisis, Korean companies and banks expanded aggressively by borrowing dollars. When foreign capital pulled out, dollar liquidity snapped, forcing Korea to accept IMF rescue.
In the 2000 dot-com bubble, all of Korea was trading tech stocks. KOSDAQ plunged over just a few months.
In the 2008 financial crisis, U.S. subprime mortgages blew up. But because Korean banks had high foreign-currency liabilities, the won and the stock market were hit hard.
In 2021, China concept stocks: Bil Hwang, a Korean-heritage investor, and his Archegos fund used extreme leverage. The fund’s positions collapsed, triggering multiple investment banks to rush and sell.
In 2022, crypto: Do Kwon of South Korea’s LUNA and UST collapsed, and more than $40 billion disappeared.
And there’s the “kimchi premium” for Bitcoin—at its peak, the price of BTC in Korea was about 30% higher than overseas.
In 2026’s memory cycle, behind Samsung and SK Hynix, once again, a large amount of leveraged capital has appeared.
Korea isn’t always the starting point of every crisis, but it often is where market sentiment becomes the most insane and leverage is at its highest.
