[Bank of Korea Warns: AI Industry's Dependence on External Financing and Revolving Finance Intensifies; Vulnerability Accumulating Amid Rising Long-Term Interest Rates] According to a report by Yonhap News Agency on October 27th, Kim Yoon-kyung, Section Chief of the Research Bureau of the Bank of Korea, and Wang Jae-kun, Investigator, pointed out in their report "Main Characteristics and Risk Assessment of AI Industry Financing" that recent competition for financing within the AI industry has increased its reliance on external funding and revolving finance, leading to a growing number of warnings about financial risks arising from AI. The report states that this year, hyperscale data center operators have significantly expanded external financing, primarily through long-term corporate bonds, while AI-focused cloud companies have significantly increased external financing through GPU-secured loans and convertible bonds. AI companies are also actively utilizing off-balance-sheet financing such as special purpose vehicles, joint ventures, and leasing. The scale of revolving transactions between hyperscale enterprises and AI chip manufacturers to secure future sales through supply chain investments is also increasing. (Note: The original text contains some inconsistencies and inconsistencies in the source material. A more accurate translation would require the full context.) The report assesses that large, leading companies are financially sound, and the likelihood of AI financial risks materializing is low. However, vulnerabilities are gradually accumulating in a long-term interest rate environment. Key risk factors include delayed AI monetization and the spread of cyclical financial shocks. Attention should be paid to the potential risks of AI cloud companies with insufficient financial resources and low information transparency. The report emphasizes that South Korea, as the biggest beneficiary of the AI boom, may experience a stronger transmission of real and financial shocks triggered by AI due to its high degree of integration with the global supply chain. Continued monitoring of potential vulnerability accumulation and the likelihood of risk occurrence is necessary.