https://www.rakentaja.fi/keskustelukanava/img/20157/295425.j...
I live in Finland. Here if the walls of a room are not completely above ground, you risk molds and therefore it's never advisable to have living quarters in such rooms.
If you do have living quarters in such rooms, the proper way to do it is to install non-permeable membrane between the soil and the concrete. The renovation looks like this: https://www.vastavalo.net/albums/userpics/13316/normal__MG_1...
If it's just a garage or storage space with no white leaks, I would just wait it to crumble to a degree that justifies changing the whole foundation. I don't see how internal coating could help anything. And external coating helps only very little if it's above ground.
I'd guess SF is so arid that people don't really notice that stuff. It's different in a country like this that has swamps and rain all over.