Connect with us

Technology

SK Networks and Sunway Join Forces to Drive AI Innovation and Explore Regional Expansion

Published

on

*Extensive collaboration expected in AI-powered products and systems••• including possible joint venture & share swap
*MoU will also see Sunway tapping the talent and innovation of PhnyX Lab, the Silicon Valley-based AI research and development arm of SK Networks
*SK Networks, “We’ll focus on boosting the Malaysian market and maximizing synergy between the two companies to drive greater corporate value.”

SEOUL, South Korea, Oct. 30, 2024 /PRNewswire/ — SK Networks, a company steering the growth of its subsidiaries and scaling future value through AI-driven innovations, is ramping up its strategic collaboration with Sunway Group, a leading conglomerate in Southeast Asia with core interests in real estate, construction, healthcare, education, leisure and hospitality sectors.

SK Networks (CEO: Hojeong Lee) announced on October 30 that it had inked a Memorandum of Understanding (MoU) with Sunway to establish a wide-ranging partnership encompassing both companies and their subsidiaries.

On October 22, SK Networks, part of SK Group which is among the largest conglomerates in South Korea, hosted senior executives from Sunway, led by Group CEO of Digital and Strategic Investments Evan Cheah, to formalise this collaboration through an MoU signing ceremony at SK Networks’ headquarters in the Samil Building, Jongno-gu, Seoul.

Founded in 1974, Sunway today owns and manages three publicly-listed companies on Bursa Malaysia with a combined market capitalisation of more than RM35 billion / USD 8 billion, operating across 13 business divisions in 50 locations worldwide.

Sunway is highly regarded for its unique build-own-operate model, and its flagship Sunway City Kuala Lumpur is Malaysia’s first fully integrated, green and sustainable township, which attracts more than 42 million visits a year.

SK Magic, a subsidiary of SK Networks specialising in innovative home appliances, has already established a foothold in the Malaysian market through its existing relationship with Sunway. This MoU will deepen this partnership by identifying key areas to leverage synergies across multiple business sectors and regions where SK Networks and Sunway have a presence.

These initiatives include SK Magic’s ongoing development of innovative AI-powered products and the introduction of PhnyX Lab’s technology to develop and integrate AI systems within Sunway’s ecosystem.

Furthermore, SK Networks and Sunway are pushing for various collaboration models, such as establishment of a joint venture between SK Magic and Sunway, and possible share swap between SK Networks and Sunway.

Sunway Group CEO of Digital and Strategic Investments Evan Cheah said: “Our partnership with an AI-driven organization like SK Networks represents a natural synergy for Sunway’s own digital transformation journey.”

“As a conglomerate marking our 50th anniversary this year, we will continue to build on our history of embracing technology and innovation to evolve our businesses towards the next 50 years and beyond,” Evan added.

SK Networks plans to actively support the process following this agreement between the two companies to ensure that it translates into tangible results. The company aims to facilitate the smooth global expansion and collaboration of its existing businesses while continuing to enhance its value as an AI-driven company.

Hojeong Lee, President & CEO of SK Networks said, “We will establish a working group to develop specific collaboration strategies with Sunway, focusing on AI-related areas. Our objective is to generate visible synergies as we expand our presence in Malaysia. We are dedicated to facilitating seamless operations between our headquarters and subsidiaries while also exploring innovative avenues to identify new business models and nurture external partnerships that can create significant value.”

View original content to download multimedia:https://www.prnewswire.com/news-releases/sk-networks-and-sunway-join-forces-to-drive-ai-innovation-and-explore-regional-expansion-302291073.html

SOURCE SK Networks

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Amid Rising Costs, XRP Healthcare Prescription Savings Card Making a Difference at 68,000 Pharmacies Across America: A Game-Changer for Individuals and Organizations Alike

Published

on

By

DUBAI, UAE, Oct. 31, 2024 /PRNewswire/ — Amid rising costs in the U.S., the XRP Healthcare Prescription Savings Card is providing Americans with much-needed relief on medication expenses. Accepted at over 68,000 pharmacies, including major chains like Walmart, Walgreens, and CVS, the card offers savings of up to 80% on prescriptions and over-the-counter medications, free to download on the XRPH app with no hidden fees or subscription costs.

 

While not a complete solution for financial pressures, the card delivers meaningful savings on repeat medications, especially for those managing chronic conditions like diabetes, high blood pressure, and mental health.

“With financial pressures mounting, our Prescription Savings Card offers a simple, no-cost solution to help families reduce their prescription expenses,” says Kain Roomes, CEO of XRP Healthcare.

Supported by AI-driven guidance through the XRPH app, users can access reliable healthcare information and personalized insights. This digital platform ensures access to trusted advice on managing health concerns affordably, bridging a critical gap in healthcare.

Since launching in 2022, XRP Healthcare has successfully delivered on each phase of its growth roadmap, making significant strides in enhancing healthcare access.

Entering the final quarter of 2024 with strong momentum, XRP Healthcare is set to close the year with impactful mergers and acquisitions in underserved markets like Uganda, furthering its mission to improve healthcare access in emerging regions.

This growth positions the company as a leader in delivering cost-effective healthcare solutions to both established and developing markets.

“Expanding into Uganda represents a pivotal step toward our vision of a truly global healthcare ecosystem,” adds COO Laban Roomes, with a focus on strengthening affordable healthcare options in underserved markets.

 

About XRP Healthcare

XRP Healthcare is the first pharma and healthcare platform built on the XRP Ledger, leveraging blockchain and AI to transform access to affordable healthcare globally. Headquartered in Dubai, UAE, and Uganda, XRP Healthcare offers solutions like the Prescription Savings Card and an AI-powered chatbot, aimed at making healthcare accessible worldwide. The company’s token, XRPH, is paired with USDT and listed on multiple reputable CEX exchanges, driving innovation in the digital and healthcare sectors.

Photo – https://mma.prnewswire.com/media/2544773/XRP_Healthcare.jpg
Logo – https://mma.prnewswire.com/media/2365357/XRP_Healthcare_Logo.jpg

 

View original content:https://www.prnewswire.co.uk/news-releases/amid-rising-costs-xrp-healthcare-prescription-savings-card-making-a-difference-at-68-000-pharmacies-across-america-a-game-changer-for-individuals-and-organizations-alike-302291875.html

Continue Reading

Technology

Global Times: 15 years on, China’s Nasdaq-style ChiNext board drives innovative economic growth

Published

on

By

BEIJING, Oct. 31, 2024 /PRNewswire/ — Wednesday marked the 15th anniversary of the ChiNext board, a Nasdaq-style board for growth enterprises in China, which opened for trading on October 30, 2009. After 15 years of rapid growth, the board has become an important incubator for the development of high-quality private enterprises, and it vigorously propels innovative economic development and industrial upgrades.

As of Wednesday, 1,358 companies from a wide range of sectors including advanced manufacturing, the digital economy, and the green and low-carbon sectors had gone public on the ChiNext, and their total market capitalization exceeded 12 trillion yuan ($1.68 trillion), the Securities Daily reported.

In the past 15 years, the ChiNext board has nurtured quality high-tech companies that have showcased strong innovation capability and growth momentum, and they became important innovation engines driving the country’s high-quality economic growth in the new era, Yang Delong, chief economist at Shenzhen-based First Seafront Fund, told the Global Times on Wednesday.

At present, there are more than 1,000 private enterprises listed on the ChiNext board, which has become an important incubator for the development of high-quality private companies. Many enterprises have gained tangible benefits after listing on the board, and they have strong expectations for the development of the board.

Since going public on ChiNext in June 2018, Contemporary Amperex Technology Co., Ltd (CATL), a leading battery maker, has raised nearly 70 billion yuan from investors and issued 4.5 billion yuan in corporate bonds. A private placement completed in 2022 remains the largest ever on the board, which underscores the strong support of China’s capital markets for the development of CATL, the company told the Global Times on Wednesday.

Over the years, the ChiNext board has played the role of a “test field” for China’s capital market development. It has conducted institutional trials and innovations that better conform to the development characteristics of innovative and growth enterprises, accumulating reform experience for the capital market, Yang noted.

“The rapid development of the ChiNext board has been a highlight in the construction of a multi-layered capital market in China,” Yang said, noting that the ChiNext board greatly enhances the capability of China’s capital market to serve the new economy.

“The ChiNext board witnessed the leapfrog development of innovative enterprises over the past 15 years,” a spokesperson of Chinese medical device company Shenzhen Mindray Bio-Medical Electronics Co., Ltd, told the Global Times on Wednesday.

It is hoped that the ChiNext board can accelerate the building of a market, product and institutional system that accommodates the development of innovative growth enterprises, contributing to the development of new quality productive forces, the spokesperson said.

China’s top securities regulator is studying and drawing up action plans to further deepen capital market reform, Wu Qing, chairman of the China Securities Regulatory Commission (CSRC), said at the Annual Conference of Financial Street Forum 2024 in Beijing on October 18.

On aiding the development of new quality productive forces, the CSRC will focus on supporting high-quality innovative enterprises, enhancing the inclusiveness and adaptability of the system, and reforming and optimizing the issuance and listing system, Wu said.

 

View original content:https://www.prnewswire.com/news-releases/global-times-15-years-on-chinas-nasdaq-style-chinext-board-drives-innovative-economic-growth-302292444.html

SOURCE Global Times

Continue Reading

Technology

ACE and Egyptian Authorities Shut Down Major Live Sports Piracy Ring

Published

on

By

Livehd7 Network Gave Users Illicit Access to Live Sports, Drawing More Than 17 Million Monthly Visits

LOS ANGELES, Oct. 31, 2024 /PRNewswire/ — Egyptian authorities collaborated with the Alliance for Creativity and Entertainment (ACE), the world’s leading antipiracy coalition, to shut down a notorious sports piracy network that illegally streamed live football/soccer matches to audiences around the world.

This action is the latest in a series of takedowns in the Middle East and North Africa (MENA) region. In recent months, ACE has worked with local MENA authorities to shutter unlawful streaming operations. Major takedowns include Laroza, formerly the largest piracy site in the MENA, taken down last month; Cima4U, which operated nearly 500 illegal domains and was shut down in January; and five other MENA-based piracy rings closed in 2024.

Operating since late 2020, Livehd7’s network of live streaming websites and at least 85 associated domains offered users access to matches from Europe’s top football/soccer leagues including England’s Premier League, Spain’s La Liga, Italy’s Serie A, Germany’s Bundesliga, France’s Ligue 1 and Portugal’s Primeira Liga, as well as the United States’ Major League Soccer (MLS) and domestic cup competitions in those countries. The content also included all UEFA club competitions and international qualifiers for the FIFA World Cup, UEFA Euro and EUEFA Nations League, and CONMEBOL Copa America.

“We applaud the excellent work of Egyptian law enforcement in protecting the intellectual property rights of ACE’s sports media company members,” said Motion Picture Association (MPA) Executive Vice President and Chief Content Protection Officer, Larissa Knapp. “The piracy of live sports is especially detrimental and poses an existential threat to sports leagues and their distribution partners, as a live sports broadcast loses substantial commercial value once a game ends. ACE remains committed to collaborating closely with the Egyptian Police to bring illegal operators to justice.”  

Through its various domains, the Livehd7 network logged more than 17 million monthly visits — more than 257 million visits in the past year. Site traffic originated primarily from Egypt, KSA, France, Germany, and the United States.

“Egyptian-operated piracy websites are popular across the MENA and Arabic-speaking markets generally, causing detrimental harm to our industry,” said Cameron Andrews, Legal Director of Anti-Piracy at beIN MEDIA GROUP. “According to our research, in the MENA region alone, they cost beIN over a $1 billion USD a year and threaten the viability of our business, which in turn has a direct effect on what broadcasters can pay for sports rights. We are very pleased to see action being taken as ACE continues to set a precedent in the fight against piracy.”

In addition to European and North American leagues, the illicitly streamed content included national leagues in the MENA such as the Saudi Pro League.   

The ring operators frequently built new domains to circumvent site blocking and other enforcement measures implemented in the countries where users accessed the illicit content.

All sites will be redirecting to the ACE “Watch Legally” page.

About The Alliance for Creativity and Entertainment

The Alliance for Creativity and Entertainment (ACE) is the world’s leading coalition dedicated to protecting the legal creative market and reducing digital piracy. Driven by a comprehensive approach to addressing piracy through criminal referrals, civil litigation, and cease-and-desist operations, ACE has achieved many successful global enforcement actions against illegal streaming services and unauthorized content sources and their operators. Drawing upon the collective expertise and resources of more than 50 media and entertainment companies around the world—including sports channels and associations—and reinforced by the Motion Picture Association’s content protection operations, ACE protects the creativity and innovation that drives the global growth of core copyright and entertainment industries. The current governing board members for ACE are Amazon, Apple TV+, Netflix, Paramount Pictures, Sony Pictures, Universal Studios, The Walt Disney Studios, and Warner Bros. Discovery. Charles Rivkin is Chairman and CEO of the Motion Picture Association and Chairman of ACE.

Logo – https://mma.prnewswire.com/media/2542302/ACE_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/ace-and-egyptian-authorities-shut-down-major-live-sports-piracy-ring-302292467.html

Continue Reading

Trending