“Korea is no longer just a proxy for global trade; it is the only market currently positioned at the bottleneck of the three most critical megatrends of the 2020s: AI, electrification, and defense,” said Keith Bortoluzzi, managing director at Singapore-based Impactfull Partners. Germany’s earnings are grappling with a secular decline in autos and chemicals, while Korea is enjoying a supercycle fueled by rearmament and AI infrastructure.