"Trillions to hundreds of trillions of won in losses" sounds frightening, but if it's an impact from revaluation, don't rush to pessimism.

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CryptoFrontier
K-Fabless AI Chip Firms Face Accounting Paradox: Massive Losses Mask Rising Valuations
South Korea's AI semiconductor startups recorded hundreds of billions to over a trillion won in net losses in 2025, but this represents an accounting artifact rather than operational failure. The losses stem from the revaluation of convertible preferred shares (RCPS) under K-IFRS accounting
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