Cybersecurity News in Asia

BANGKOK, June 13, 2022 /PRNewswire/ — The Thailand Board of Investment (BOI) at a meeting today approved a combined 209.5 billion baht (US 6.2 billion) worth of investment applications in manufacturing and infrastructure projects, including 36.1 billion baht by Horizon Plus Co., Ltd., a joint venture between Taiwan’s Foxconn and Thailand’s PTT PCL, to make battery electric vehicles (BEV), and approved enhanced benefits for investment in battery production, building up on the policy to become Southeast Asia’s EV manufacturing hub. The board also approved a set of improved incentives to promote investments in smart industrial estates and smart systems, including upgrades of existing industrial estates.

“The roll out over the last three years of the measures to boost investment in EVs is already showing clear results and by improving the incentives for battery production, an essential element of the industry’s transition, we hope to further strengthen the supply chain,” Ms Duangjai Asawachintachit, Secretary General of the BOI, told reporters after the BOI meeting chaired by Prime Minister Gen Prayut Chan-ocha.

Both existing and new projects using advanced technology in the production of EV batteries, from battery cells to battery modules, and in the production of high energy density batteries, will under the revised benefits enjoy a 90 percent reduction of import duty on raw and essential materials for 5 years in cases where the output is sold domestically, Ms Duangjai said.

So far, a total of 16 projects, with a combined investment value of 4.82 billion baht, by 10 different companies, have been granted promotion benefits for investments in the manufacture of EV batteries, while another 3 projects, with a combined investment value of 6.75 billion baht, have been promoted for investment in high energy density batteries, she said.

Smart Industrial Estates Incentives

The board also approved an improved package for the promotion of investment in smart industrial estates/zones as well as an incentive package for upgrading existing general industrial estates/zones. To apply for promotion or upgrade conventional facilities to smart industrial estates/zones, the projects must provide intelligent system services to their customers in five key areas, namely Smart Facilities, Smart IT, Smart Energy, Smart Economy, and at least one of the three other intelligent system services, namely Smart Good Corporate Governance, Smart Living, and Smart Workforce, Ms Duangjai said.

Investment promotion benefits now also extend to investments in the development of smart systems for use in industrial estates and zones. The approved projects will be granted an 8-year corporate income tax exemption, and those located in the country’s Eastern Economic Corridor (EEC) area, will enjoy a 50 percent corporate income tax reduction for an additional period of 5 years.

While investments in smart industrial estates and zones require at least 51 percent Thai shareholders to be eligible for the benefits, there is no shareholding limit for investments in the development of smart systems.

Facilitation of Land Ownership for Foreign Juristic Persons

To facilitate the operations of international companies investing in Thailand, the board also approved a measure allowing BOI promoted foreign juristic persons with registered and paid-up capital of not less than 50 million baht to own land to setup offices and residential quarters for executives and foreign experts.

“The measure represents a major step in business facilitation, because land ownership is one of the very important factors when it comes to attracting foreign investment,” Ms Duangjai said.

Project Approvals

Besides the Horizon Plus project, the investment applications approved by the board today comprise the following:

Asia Era One Co., Ltd. received approval for its 162.3 billion baht investment to build a high-speed rail project connecting the three airports located in Bangkok and the EEC.

The Kingboard Holdings Group, a Chinese company, received approval for its total 8.23 billion baht investment in technical fiberglass yarn and fabric for use in the production of multi-layer PCB.

IRPC Clean Power Co., Ltd. received approval for the 2.83 billion baht expansion of its cogeneration power plant.

For more information, please contact:
Thailand Board of Investment
Tel. +66 (0) 2553 8111
Website: www.boi.go.th
YouTube: Think Asia, Invest Thailand

• New council established to drive company’s digital innovation and promote manufacturing intelligence
• Five global AI experts specializing in various crucial sectors assigned to spearhead key technological tasks

SEOUL, South Korea, June 12, 2022 /PRNewswire/ — LG Energy Solution (LGES; KRX: 373220) today announced the launch of its Advisory Council on Artificial Intelligence (AI).

Joining forces with leading scholars specializing in AI technology, the Advisory Council is expected to play a major role in LGES’s digital transformation and the establishment of a manufacturing intelligence platform.

The newly formed council will set visions and business directions to enhance the company’s digital transformation, as well as build the technological partnerships required to realize these ambitions. Accordingly, the council comprises five following divisions:

• Big data / AI
• AI systems
• AI algorithms
• Robot mechanics & Computer Vision
• Advanced Process Control and Process Optimization

 The company has appointed five AI experts as its committee members: Sungroh Yoon (Ph.D, Electrical Engineering, Stanford University), Byung-Gon Chun (Ph.D, Computer Science, University of California, Berkeley), Jinwoo Shin (Ph.D, Mathematics, Massachusetts Institute of Technology), Frank Chongwoo Park (Ph.D, Applied Mathematics, Harvard University), and Jong Min Lee (Ph.D, Chemical Engineering, Georgia Institute of Technology).

Each advisory member will be assigned to a different division, and oversee the selection and execution of strategic assignments within their respective area of expertise. The members will also actively participate in determining key technological tasks utilizing AI, particularly in executing AI tasks for establishing smart factories, as well as fostering the next-generation AI professionals.

“LG Energy Solution is consistently executing several projects for digital innovation that maximizes both the efficiency and precision of its manufacturing processes,” said Youngsoo Kwon, CEO of LG Energy Solution. “With the Advisory Council, we will expedite the promotion of manufacturing intelligence, as well as the establishment of smart factories.”

Prior to establishing this forward-thinking council, LG Energy Solution has been working towards digital transformation based on improving the quality of its batteries and maximizing the efficiency of the supply chain.

As part of its efforts, LG Energy Solution welcomed Dr. Peter Kyungsuk Pyun, former Nvidia Corporation data scientist, as Chief Data Officer (CDO). Dr. Pyun is currently executing digital transformation projects across several areas including R&D, production, and marketing.

About LG Energy Solution

LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 24,000 patents. Its robust global network, which spans North America, Europe, Asia, and Australia, includes battery manufacturing facilities established through joint ventures with major automakers such as General Motors, Stellantis N.V. and Hyundai Motor Group. At the forefront of green business and sustainability, LG Energy Solution aims to achieve carbon neutral operations by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solution’s ideas and innovations, visit https://www.lgensol.com.

HANGZHOU, China, June 13, 2022 /PRNewswire/ — NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, “NetEase” or the “Company”) and Xbox today announced that NARAKA: BLADEPOINT, an up to 60-player PVP mythical action combat game, will be launched on Xbox Series X|S, Windows PC and with Game Pass on June 23 and be available for pre-order beginning on June 12. The announcement was officially unveiled at the Xbox & Bethesda Games Showcase 2022 earlier today, marking a pivotal milestone for NetEase as it builds its position in the global console market.

Developed and published by NetEase, NARAKA: BLADEPOINT has been appreciated by over 10 million players worldwide since its release in last August, turning it into one of the best-selling PC games in 2021 globally. In this game, players can experience the excitement of melee combat and world exploration with their selected heroes and weapons, competing with other foes to be the last one standing. The launch of its console version represents the debut of NetEase’s games on the Xbox Series X|S and Game Pass, as well as the Company’s first time participating in the Xbox & Bethesda Games Showcase.

“We share the same ambition with Microsoft to bring appealing and exciting new gaming experiences to wider communities,” said Zhipeng Hu, Vice President of NetEase, Inc. “It’s a milestone step for us to bring this melee battle gameplay with Eastern aesthetics and philosophies to a new audience in Western markets, together with Microsoft, one of NetEase’s long-standing partners.”

“At Xbox, we are dedicated to bringing the joy of gaming to everyone on the planet,” said Sarah Bond, Microsoft’s Corporate Vice President for Gaming Ecosystem Organization at Xbox. “We are excited to help NetEase bring the fast-paced and tactical PVP experience of NARAKA: BLADEPOINT to consoles for the first time and help them reach new players around the world with Game Pass members and Xbox fans alike.”

In 2016, NetEase entered into a license agreement with Mojang AB, a subsidiary of Microsoft, to operate Minecraft in China. Launching NARAKA: BLADEPOINT as a console game for the first time paves the way for future opportunities for both companies to reach new players around the world.

About NetEase, Inc.

As a leading internet technology company based in China, NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, “NetEase”) provides premium online services centered around innovative and diverse content, community, communication and commerce. NetEase develops and operates some of China’s most popular mobile and PC games. In more recent years, NetEase has expanded into international markets including Japan and North America. In addition to its self-developed game content, NetEase partners with other leading game developers, such as Blizzard Entertainment and Mojang AB (a Microsoft subsidiary), to operate globally renowned games in China. NetEase’s other innovative service offerings include its majority-controlled subsidiaries Youdao (NYSE: DAO), China’s leading technology-focused intelligent learning company, and Cloud Village (HKEX: 9899), also known as NetEase Cloud Music, China’s leading online music content community, as well as Yanxuan, NetEase’s private label e-commerce platform. For more information, please visit: http://ir.netease.com/.

Forward-Looking Statements

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “aim,” “anticipates,” “future,” “intends,” “plans,” “believes,” “may,” “estimates,” “potential,” “continue,” “ongoing,” “goal,” “targets,” “commits” and similar statements. Among other things, statements that are not historical facts, including statements about business plans and statements about the launch of new games and their popularity among players in different markets, are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. All information contained in this announcement is as of the date of this announcement and are based on assumptions believed to be reasonable as of this date. You should not rely upon these forward-looking statements as predictions of future events. The parties do not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contacts for NetEase

Investor Enquiries:

Margaret Shi
NetEase, Inc.
ir@service.netease.com
Tel: (+86) 571-8985-3378
Twitter: https://twitter.com/NetEase_Global

Media Enquiries:

Li Ruohan
NetEase, Inc.
globalpr@service.netease.com
Tel: (+86) 571-8985-2668
Twitter: https://twitter.com/NetEase_Global

The merger combines IoT technology with software services to empower the road freight transport sector

BEIJING, June 11, 2022 /PRNewswire/ — G7 Connect Inc. (“G7”), a fleet management company backed by Tencent Holdings Ltd., and E6 Technology (“E6”), announced the merger of the two companies. The merger took place in the first quarter of 2022, with the initial stage of their business integration having been completed. G7 co-founder and CEO Zhai Xuehun has been appointed as chairman and CEO of the merged group (hereafter referred to as the “Group”), while E6 chairman and CEO Zhang Jingtao will serve as vice chairman and G7 CFO Zhang Jielong as CFO.

The merger will create the largest and most influential software service provider in the industry, with businesses spanning key vertical markets covering both production and consumer logistics. The Group’s customers include major players in the trillion-yuan road freight transport market. With its product portfolio serving as a one-stop digital service that integrates subscriptions and transactions, the merged entity consolidates the two prior firms’ advantages in technology, making it the only technology company in the sector to provide a comprehensive range of Internet of Things (IoT) software as a service (SaaS) services.

The Group is well positioned to provide customers with more cost-competitive, premium services by optimizing its supply chain and service networks and reducing procurement and operating expenses. It also plans to continue investing in technology and R&D in a move to provide customers with valuable data-driven products, with the aim of facilitating an industry-wide upgrade to a connected supply chain supported by data intelligence.

G7 and E6 were among the few fleet management firms that were capable of providing IoT SaaS solutions due to substantial investments in IoT, data, algorithms and software technologies alongside continued strengthening of their respective advantages in technology as a way to build barriers to competitors. Both firms had also explored and implemented differentiated approaches based on their respective core competencies. Notably, G7 had established a leadership role in the area of IoT technology empowered software subscription, and overall capacity and transactions on transpiration, energy, insurance and equipment, while E6 had been dedicated to providing software subscription services to large cargo owners and logistics providers, becoming a leader within the domain of consumer logistics, including fast-moving consumer goods (FMCG), retail, food, and cold chain logistics.

“Although the digital transformation journey of the sector has just begun, freight cooperators are looking forward to changing how they operate and achieving business success through the application of digital solutions,” said the chairman and CEO, Mr. Zhai. “The combination of G7 and E6 enables us to invest more firmly in technology and to further create value for our customers by way of data-driven products.”

“Prior to the merger, both companies believed in the importance of helping customers succeed and bringing changes to the sector by virtue of IoT SaaS services while post-merger, the shared belief has become our common ambition,” stated the vice chairman, Mr. Zhang. “We plan to continue providing premium products and services with the goal of building an outstanding SaaS company with an ongoing commitment to creating value for customers.”

G7, a leading provider of IoT SaaS services for the road freight transport sector, served a wide range of small, medium and large freight manager with IoT-based software subscriptions and transaction services. The firm, by continuing innovations in technology and expanding its portfolio, had been leading the sector in terms of software subscriptions as well as transaction services for transport capacity, energy, insurance and equipment. E6, a pioneer in IoT SaaS services for the sector, had been dedicated to providing customers with IoT-based software subscription services with a focus on large cargo owners and logistics companies. With a continued commitment to tightly-run operations and superior services, the company has earned a reputation as the dark horse in the FMCG, retail, food and cold chain segments.

As two leaders in the IoT technology and software services space, both G7 and E6 had been focusing on providing IoT technologies and software to large cargo owners and logistics providers as well as to tens of thousands of freight managers. Prior to the merger, the two firms together served over 80% of China’s large cargo owners and logistics providers in addition to assisting almost 30,000 small and medium-sized freight managers in improving efficiency and increasing revenue.

The merger received strong support from both firms’ shareholders. AnJie Law Firm, Llinks Law Offices, Global Law Office, Simpson Thacher & Bartlett, Deloitte, KPMG and Boston Consulting Group provided professional services for both the transaction and integration efforts. Following the completion of the merger, Global Logistic Properties’ private equity arm Hidden Hill Capital, Tencent, Cainiao Smart Logistics Network and other investors have each appointed representatives to the Group’s board of directors in tandem with carrying out specific tasks with an eye to further deepening their business collaboration.

^{¹ Freight manager refer to enterprises that manage the operation and trading activities of road freight, including large, medium and small cargo owners, logistics companies, self-owned fleets, outsourced fleets, commerce trading companies , manufacturing enterprises, etc. According to a BCG research report, about 700,000 freight managers carry about 85% of China’s road freight volume and are major players in the road freight market.}

For more information, please visit G7.

Media Contact:
Peipei Lin, linpeipei@g7.com.cn
Shuai Zhang, conntect@g7.com.cn

BEIJING, June 10, 2022 /PRNewswire/ — Recently, Secoo Group(NASDAQ:SECO) has made an official announcement that it will build up a Black Card service system concerning exquisite lifestyle–to turn its high-end users into its spokesman.

According to Bain& Company’s annual China Luxury Report 2021, despite mounting global social and economic challenges, China’s Luxury goods mainland market(not include Hongkong and Macao ) finished 2021 with strong double-digit growth overall, with some brands exceeding a 70% increase. Even though China market has reached a high level of digitization and continues to grow, the report forecasts that the online sales of China market’s person luxury goods will increase approximately by 56%.   

It shows that the most concerned China’s high-end users of luxury goods has shifted from offline consumption to online consumption due the epidemic outbreak. On top of that, consumers use to be influenced by others when they make luxury goods purchase decision and now they tend to be more rational. A newly-released report by Bain&Company Unpacking Asia-Pacific Consumers’ New Love Affair With Sustainability suggests that 90% of the respondents of a survey of 16,000 consumers in Asia-Pacific countries are willing to pay for products’ sustainability and 40% of the respondents show willingness to increase their budgets on sustainable products in next 3 years.   

As a world famous exquisite lifestyle platform, Secoo mainly focuses on high-end consumer market and believes that high-end consumers will be the trend of domestic personal luxury goods. Since its foundation in 2008, Secoo has been dedicated to providing the latest and smartest fashion items for high-end users. As of now, Secoo has more than 50 million registered high-end users, covering over 4000 high-end brands of clothing, shoes and boot, bags, watches, jewelry and accessories. As the global epidemic continues, high-end users’ demands for exquisite life have changed significantly.

In consideration of the needs of high-end users, Secoo has launched its Black Card service system concerning exquisite lifestyle. Nevertheless, the services provided is not standardized, instead, it’s personalized and customized luxury service. Based on the personalized demands, Secoo will tailor the high-end customized service for users by providing both online and offline services. Experts, buyers and consultants from various high-end areas of life will provide the most detailed services and experiences for its users covering life modes and scenes.  

As Li Rixue,  the founder of Secoo, says that Secoo, even though works in luxury goods industry, aims to be companies like American Express and Michelin and a world famous company needs to standardized its service down to the smallest detail. So Secoo now needs to constantly optimize existing service standards as well as to refine and categorize users’ demands so as to provide personalized services for each user. Only in this way can Secoo turn its users to potential spokesman.

SINGAPORE, June 9, 2022 /PRNewswire/ — CDNetworks, the global leader in CDN, edge computing, and cloud security, announced today its new Zero Trust Access Solution: Enterprise Secure Access (ESA). ESA has been built from the ground up to modernize organizations with secure remote access to apps and services, and establish a secure, efficient, and easy-to-use hybrid networking environment.

ESA is a cloud service based on a Software-Defined Perimeter (SDP) and Zero Trust architecture. ESA checks user identity, device security, and user behavior to authenticate users and devices before granting access to enterprise applications. ESA also safeguards applications from cyberattacks by shielding the origin’s IP address and port behind a security gateway.

“As organizations scramble to solve unprecedented remote access challenges during or post-pandemic, adopting Zero Trust Network Access has increased significantly.” said Doyle Deng, CDNetworks’ Head of Product Management, “With Zero Trust Network Access implementation, our Enterprise Secure Access offers a secure remote access that can effectively adapt to modern security infrastructures and embrace hybrid workplaces while protecting a company’s apps, devices, and data.”

Rooted in a Zero Trust architecture, CDNetworks’ Enterprise Secure Access brings powerful benefits to organizations:

• Zero Trust Network Access. Checks user identity, device security, and user behavior to ensure secure remote access to enterprise applications by authenticated individuals.
• Adaptive Access Control. Dynamically adapts access control policies by evaluating user behavior, identification, device security, and threat intelligence to protect enterprise applications.
• Secure Applications and Data. Encrypts data transmissions, shields resources behind a security gateway, and protects applications with a cloud-based web application firewall.
• Connect Hybrid Network. Integrates enterprise, SaaS, cloud, and on-premise applications into a single secure and uniform platform, regardless of where applications are hosted.
• Accelerate Application Access. Accelerates remote access and data transmissions with a globally distributed network to ensure speedy and secure access to applications.
• Flexible Management. Delivers an easy-to-manage platform for setting up and maintaining applications and users individually and in batches.

Apply for a free trial to learn how ESA empowers your workforce to stay productive from anywhere on any device, without exposing your apps and network to cyberthreats.

About CDNetworks

As a global-leading CDN and Edge Service provider, CDNetworks delivers fully integrated cloud and edge computing solutions with unparalleled speed, low latency, security, and reliability. Our diverse products and services include web performance, media delivery, enterprise applications, and cloud security — all of which are designed to spur business innovation.

CDNetworks Co. Ltd
media@cdnetworks.com

AI Butler, Family Assistant, Safety Guard, Tech Playmate – the first home service robot brought to customers by Midea delivers everything in a single AI package

GUANGZHOU, China, June 9, 2022 /PRNewswire/ — Smart home global leader Midea introduces XIAOWEI, a robot with intelligent technology that can act as an AI Butler, Family Assistant, Safety Guard and Tech Playmate. The household robot XIAOWEI is expected to be launched in the 2nd half of 2022, and will be established as an independent brand WISHUG by Midea Group.

The first-generation Midea household robot XIAOWEI stands around one meter tall, resembling a childlike effigy with some cute facial features. “We hope XIAOWEI can make a family’s daily life easier”, states Dr. Tang Jian, IEEE Fellow, ACM Distinguished Scientist, CIE Fellow, and General Manager of Midea AI Innovation Center.

XIAOWEI is able to access smart home appliances and IoT devices; for example, when XIAOWEI detects a family member is coming home, it can turn on the lights and air conditioner in advance to set a comfortable temperature and humidity for their arrival.

XIAOWEI is able to identify family members through the use of face and body tracking technology, making the versatile robot a reliable AI housekeeper that can also deliver effective all-around security. you can direct the robot to visit every corner of the house to keep an eye on happenings and to help deliver household items, remote monitoring and safety patrol.

It’s worth noting that XIAOWEI is also an excellent playmate; utilizing its built-in projector and other advanced technologies it’s able to create a mobile theater, entertainment center, and interactive play area at home to keep the entire family amused.

XIAOWEI robot is able to scan the home in all directions through its built-in 3D camera, perform autonomous exploration and mapping, identify object attributes, and compile semantic information through its 3D Semantic mapping. For example, through this technology, the robot XIAOWEI knows which is the sofa and where the sofa is, and then you tell him “go to the sofa”, and XIAOWEI will go to the sofa by himself using its navigation functions by responding to a voice command.

“Looking to the future, the household robot brings multiple possibilities.” Dr. Tang Jian highlighted that household robots, just like smartphones and new energy vehicles, are already changing people’s lifestyles and will become a basic must-have for families.

GUANGZHOU, China, June 9, 2022 /PRNewswire/ — Midea Digital Midea 2025 conference displays Midea actively building a technology group that provides digital solutions combining software and hardware for both B-end and C-end users.

Midea has specified the goals of its 2025 digital strategy: 100% digitalization of the entire operation across the whole value chain, driving business through a user perspective and reaching high-tech industry standards, maintaining industry leadership by building core technology barriers, becoming the first choice in the global smart home industry, and integrating digital technology into business development to innovate business models.

In recent years, Midea has successively established the AI Innovation Center, Midea Software Engineering Institute, Midea Cloud Data Center, and the Privacy Computing Joint Laboratory. This all represents Midea’s determination to implement its digital strategy and ambitions in technology transformation.

Zhang Xiaoyi, vice president and CIO of Midea Group, explains: “Digital Midea 2025 reflects the process of Midea gradually approaching our users.” In the fields of Smart Home, Smart Building, Smart Travel, Smart Energy, Smart Healthcare, Smart logistics, and Smart manufacturing, Midea has a unified digital base, providing exclusive data cockpits and exclusive smart decision-making assistants for everyone.

At the press conference, Midea officially launched the home service robot XIAOWEI, a robot with intelligent technology that is an AI butler, family assistant, safety guard, and playmate all in one. In terms of industrial digitalization, Midea further expands from smart home to industrial technology, building technology, and in to other fields, empowering corporate customers and building a new digital ecosystem.

Midea Industrial Technology is committed to supporting industry development through the power of technological innovation, especially in intelligent transportation, industrial automation, energy solutions, and consumer appliances. Midea Building Technologies provides a one-stop solution for air, water, and elevator products worldwide. Midea Cloud focuses on intelligent manufacturing and industrial software. By 2025, it will cover 2,000 industry-leading customers and introduce 1,000 ecological partners. Through perceivable data collection to executable business processes, Midea Annto Logistics realizes a reliable decision-making basis.

For Midea, when all hardware is supported by digital technology, there will be an organic open ecosystem, from every metadata to platforms, systems, home hardware, and even buildings and cities, all connected in a smart digital way, to provide a better digital world. With Midea, the digital world is at the fingertips.

• Cooperation for AMI(Implementation of Smart Power Meter) pilot project and AI-based operation in Star Lake New Town in Hanoi, Vietnam
• Significance in ‘Open Innovation’ collaboration between Vietnamese state-owned company and Korean private enterprises
• First step towards the stable and safe power supply, as well as data based Smart City

SEOUL, South Korea, June 8, 2022 /PRNewswire/ — Cloud delivery platform company, Bespin Global(https://bespinglobal.com, CEO HanJoo Lee) announced on June 8th that its Vietnamese subsidiary – Bespin Global Vietnam, a local subsidiary of Daewoo Engineering & Construction – THT Development Company, and Hanoi Power Corporation – EVNHANOI, recently signed an MOU for AMI(Advanced Metering Infrastructure, intelligent remote meter reading infrastructure) pilot project in Star Lake New Town.

The MOU was signed to upgrade the system and provide benefits to users by introducing a pilot infrastructure applied with AMI within Star Lake New Town in Hanoi, Vietnam, which is independently created by Daewoo Engineering & Construction. This will not only improve convenience, but also enable the collection, analysis, and integrated operation of data, which will take a step forward in the implementation of a true Smart City. The AMI, under the direction of the Prime Minister of Vietnam, is a pilot project that the Vietnam Electricity Corporation is pursuing in two regions(Hanoi and Ho Chi Minh City) by 2025. It is expected to become one of Vietnam’s core technology standards in the future by being linked to the Smart City Data Integrated Management Platform(THT-BESPIN SMART CITY HUB) jointly built and operated by Bespin Global and THT Development.

Through the cooperation of three organizations, it is possible to analyze the trend of power use by hour, day, and month along with monitoring power usage. In addition, based on real-time data, existing collected data, and weather forecasts, it is also possible to predict the power consumption of residents, buildings and cities as a whole, and the power optimization method is also automatically supported.

This MOU is especially meaningful since Korean private companies support the core platforms for data collection, integration and analysis, and have achieved cooperation in terms of open innovation with Vietnamese state-owned company. It is expected to contribute to the creation of a new business model based on data in the future, as well as serve as a stepping stone for the establishment of a Smart City standardization model.

Nguyễn Danh Duyên, General Director of EVNHANOI said, “By applying AMI’s Industry 4.0 application technology, we can build a customer management ecosystem. We will be able to efficiently manage customers with self-monitoring, daily power production monitoring, and self-calculation of electricity bills which will help to improve customer satisfaction.”

An Kuk-jin, General Director of Daewoo E&C THT Development, said, “By jointly establishing AMI infrastructure with Hanoi Power Corporation in the central area of the Star Lake City project, a foundation for providing safe and stable power has been established. This is the most basic and important element of Smart City, and it is one of the successful cases of applying the data-based ‘Smart City 2.0 Standard Model’ developed by Daewoo Engineering & Construction and Bespin Global to the public sector.” He added that “This partnership will be a very meaningful step towards expanding the ‘Smart City 2.0 Standard Model’ that organically connects cities, operates on a data basis, and continues to create new values.”

Ted Kim, General Manager of Bespin Global Vietnam, said, “In order to provide users with high-quality Smart City services, it is essential to build a platform for the collection and analysis of a large number of data generated by facilities and services.” He stressed that “Based on Bespin Global’s technology and vision for a smarter world, we will take the lead in fostering innovative industrial models and providing more convenient and pleasant lives to citizens by integrating and analyzing the data generated in cities.”

SINGAPORE, June 8, 2022 /PRNewswire/ — ADVANCE.AI, a leading AI company specialising in digital identity verification, risk management and process automation, is the first company in Southeast Asia to successfully pass iBeta’s Presentation Attack Detection (PAD) test against fraudulent attacks in compliance to the International Organization for Standardization (ISO) 30107-3 standard for its liveness detection products.

The ISO 30107-3 is one of the most stringent technical standards that is recognised internationally for the robustness of biometric technology against presentation attacks. The accreditation is a testament to ADVANCE.AI‘s liveness detection’s capabilities in meeting global biometric standards.

ADVANCE.AI offers a comprehensive suite of solutions including KYC (Know Your Customer), KYB (Know Your Business) and KYT (Know Your Transaction) services that are consolidated into a single, easily customisable platform. Usage scenarios include customer onboarding, credit assessment as well as compliance, fraud and risk management.

Steven Zhou, Product Director of ADVANCE.AI, said, “Navigating complex regulatory and compliance standards is one of the biggest challenges for today’s businesses, especially in the financial services, fintech and web3.0 industries. Receiving this globally recognised security standard gives our clients and partners the re-assurance that our comprehensive market-leading solutions are compliant, high quality and meet global standards.”

ADVANCE.AI is part of Advance Intelligence Group, one of the largest independent technology startups based in Singapore with operations across South and Southeast Asia, Greater China, Latin America and Africa. ADVANCE.AI‘s flagship product, One-Stop Platform, provides a unified customer onboarding and profiling platform that combines 200+ data sources to power real-time response and fraud detection, with no-code orchestration capabilities that empowers businesses to deliver a safe, quick, and frictionless onboarding experience.

About ADVANCE.AI

ADVANCE.AI is a leading AI company that provides digital transformation, fraud prevention, and process automation solutions for enterprise clients. A leader in Artificial Intelligence, risk management and digital lending solutions, it currently partners 700+ enterprise clients across banking, financial services, fintech, payment, retail and e-commerce sectors. ADVANCE.AI is part of Advance Intelligence Group, one of the largest independent technology startups based in Singapore. Founded in 2016, the Group has presence across South and Southeast Asia, Latin America and Greater China. The Group is backed by top tier investors SoftBank Vision Fund 2, Warburg Pincus, Northstar, Vision Plus Capital, Gaorong Capital, Pavilion Capital, GSR Ventures and Singapore-based global investor EDBI.