Asia Filing Notes

Korea (DART K-IFRS) · Taiwan (TWSE) · U.S. (SEC) Primary-Filing Research

About Asia Filing Notes & Primary-Filing Methodology

Asia Filing Notes is an independent financial research notebook focused on translating and auditing primary Korean (DART K-IFRS) and Asian (TWSE) semiconductor disclosures for global English-speaking readers, and cross-checking those upstream numbers against U.S. SEC EDGAR filings.

Why Korea & Asia Primary Filings Come First

Two of the world's most critical AI hardware bottlenecks—High-Bandwidth Memory (SK Hynix 000660.KS and Samsung Electronics 005930.KS) and leading-edge foundry + CoWoS packaging (TSMC 2330.TW)—are domiciled in South Korea and Taiwan. Yet English-language coverage often relies on secondary wire summaries rather than reading the primary Korean Financial Supervisory Service DART filings (dart.fss.or.kr), K-IFRS segment footnotes, preliminary fair-disclosure amendments (잠정실적 공정공시), and TWSE financial reports directly.

How I Write These Notes

  1. Primary Regulatory Filings Only (DART, TWSE, SEC EDGAR): Every post cites the exact Korean DART receipt number (rcpNo), investor presentation, TWSE financial report, SEC Form 10-K/10-Q/8-K, or Federal Reserve statement used. Ratios or boundaries that I calculate myself from those primary tables (such as Samsung Memory's standalone operating margin boundary or Big Tech CapEx-to-OCF ratios) are explicitly marked (Calc.).
  2. Upstream Asia vs. Downstream U.S. Cross-Checking: Rather than analyzing U.S. hyperscalers or Asian chipmakers in isolation, I cross-check U.S. hyperscaler capital expenditure and lease commitments against Korean HBM capacity/margin prints and Taiwan foundry wafer allocation.
  3. Falsifiable Hypotheses & Footnote Discipline: Where I form a forward hypothesis, I write down the exact falsification criteria that I will check in the next quarterly filing, and I explicitly withhold judgment where public disclosures do not break out the required figures.

Independence & Non-Solicitation Policy

All notes on Asia Filing Notes are written by an individual author as a personal analytical record based on public disclosures. Nothing on this site constitutes investment advice or a solicitation to buy or sell any security. Investment decisions and responsibilities rest solely with the reader.