[The Editors' Verdict] Science, Blind Faith, and Fraud... Deep Tech Stocks in Chaos

AI, Biotech, and Quantum Computing: The Scientific "Black Box" Remains
Ignorance and Blind Faith in Deep Tech Create Opportunities for Fraud
Rational Investments and Systematic Safeguards Are Urgently Needed

In the latter half of the 20th century, it seemed as though humanity was on the verge of conquering science itself. This was the era of the 'deterministic worldview,' when people believed that every phenomenon could be explained through causality. The coding languages of the time, with their 'IF~ THEN~' logic that produced predetermined outcomes based on input values, were symbolic of this way of thinking. However, the deep tech that now shoulders the future of humanity takes an entirely different approach. Artificial intelligence (AI), biotechnology, and quantum computers all embody uncertainty—specifically, the notion that phenomena cannot be perfectly explained. In the words of Socrates, 'admitting what we do not know' has become the starting point for understanding technology.

AI can instantly generate answers to complex questions. However, we are unable to fully trace the computational process by which AI reaches its conclusions. While the input and output are clear, the intermediate process is shrouded in mystery—a so-called 'black box' problem. The operational principles cannot be entirely explained through human logic. This becomes the root of fears that AI could spiral out of control and threaten humanity itself.

The Human Genome Project, a milestone in biological research, revealed that approximately 20,000 genes contain the blueprints for proteins. Proteins perform a wide range of functions inside and outside of cells. Google's AlphaFold succeeded in predicting protein 'structures.' However, to unlock the secrets of life and death, we must further uncover when these proteins are produced, what signals they exchange, and how they interact and bind with each other. The number of proteins for which we have clearly identified the mechanisms of action remains extremely small.

Quantum computers are based on quantum mechanics, which is intuitively difficult to understand. As in the famous 'Schrodinger's cat' analogy, a quantum in the microscopic world exists in a superposition of states—simultaneously alive and dead—until it is observed. Such a cat cannot exist in the macroscopic world, according to common sense. But in the quantum world, the cat always exists in this state. Through superconducting and photonic technologies, quantum computers maximize computational power by controlling this unstable superposition and minimizing errors.

Perhaps because of this fundamentally unknowable complexity, deep tech sometimes transcends the realm of science and becomes an object of blind faith. Recall those who, during the Hwang Woo-suk scandal, denied the reality of fabricated research papers, insisting, "That can't be true." In investment markets where vast sums of capital are at stake, such belief becomes even more entrenched when combined with confirmation bias. The Shillajen incident in the past, and the recent blind faith in certain publicly listed companies, are evidence of this phenomenon.

The domestic stock market is particularly rife with listed companies that are objects of blind faith in technology. This is especially true for 'technology-special listing companies' that go public based on future value assessments, despite being in the red. Even though technology, patent, and accounting experts conduct reviews, it is nearly impossible for outsiders to discern the true nature of such technology or the authenticity of the data in the deep tech sector within a short period. If a company intentionally distorts its data, the systems in place to filter this out in advance remain weak and vulnerable.

The less the general public understands a technology, the more they rely on grand narratives—such as 'this will change the world'—instead of logical verification. This mentality is often transformed into blind faith as it spreads through YouTubers or social networking services (SNS). Some companies seize this opportunity to selectively release only favorable data or to give vague answers, thereby reinforcing investors' confirmation bias and fueling even greater zealotry. This is the moment when science departs from rational skepticism and becomes a vehicle for deception.

Deep tech must begin with the humble acknowledgment that 'there is still much we do not know.'

Stock market investors, too, must take a cold, honest approach that acknowledges their own ignorance. Investing based on cool-headed reason—not unfounded faith—is the way to protect one’s assets. The government must also establish robust, detailed systems that distinguish technological truth, so that expert verification does not become a mere formality. Unverified innovation can at any time repeat the tragedy of another Shillajen incident.

This content was produced with the assistance of AI translation services.