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PR Newswire

Sohu.com Announces Completion of Changyou Going-Private Transaction

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BEIJING, April 18, 2020 /PRNewswire/ — Sohu.com Limited (NASDAQ: SOHU) (“Sohu”), China’s leading online media, video, search and gaming business group, today announced that it has completed the acquisition of all of the outstanding shares of Changyou.com Limited (“Changyou”) that it did not already beneficially own, through the merger (the “Changyou Merger”) of an indirect wholly-owned subsidiary (“Changyou Merger Co.”) of Sohu with and into Changyou, with Changyou being the company surviving the Changyou Merger. As a result of the Changyou Merger, Changyou has become a private company wholly owned directly and indirectly by Sohu and the American depositary shares of Changyou (the “Changyou ADSs”), each of which represented two Changyou Class A ordinary shares (“Changyou Class A Ordinary Shares”), are no longer traded on the Nasdaq Global Select Market.

Pursuant to the plan of merger for the Changyou Merger, each Changyou Class A Ordinary Share issued and outstanding immediately prior to the effectiveness of the Changyou Merger, other than Changyou Class A ordinary shares owned beneficially by Sohu, was cancelled in exchange for the right to receive $5.40 in cash without interest, and each outstanding Changyou ADS was cancelled in exchange for the right to receive $10.80 in cash without interest (less $0.05 per ADS cancellation fees and other fees as applicable). Because Changyou Merger Co. owned over 90% of the voting power represented by all issued and outstanding shares of Changyou prior to the effectiveness of the Changyou Merger and the Changyou Merger was in the form of a short-form merger in accordance with section 233(7) of the Companies Law of the Cayman Islands, the Changyou Merger was not subject to a vote of the shareholders of Changyou.

In connection with the Changyou Merger, each outstanding and fully‑vested option (each, a “Vested Option”) to purchase Changyou Class A Ordinary Shares under Changyou’s share incentive plans was cancelled, and each holder of a Vested Option has the right to receive an amount in cash determined by multiplying (x) the excess, if any, of $5.40 over the applicable exercise price of such Vested Option by (y) the number of Changyou Class A Ordinary Shares underlying such Vested Option; and each outstanding but unvested option (each, an “Unvested Option”) to purchase Changyou Class A Ordinary Shares under Changyou’s share incentive plans will remain outstanding and continue to vest following the effectiveness of the Changyou Merger in accordance with the applicable Changyou share incentive plan and award agreement governing such Unvested Option in effect immediately prior to the effectiveness of the Changyou Merger.

Changyou has requested that trading of Changyou ADSs on the Nasdaq Global Select Market be suspended, and that the Nasdaq Stock Market LLC (“Nasdaq”) file with the Securities and Exchange Commission (the “SEC”) a Form 25 notifying the SEC of Nasdaq’s withdrawal of the Changyou ADSs from listing on Nasdaq and intention to withdraw the Changyou Class A Ordinary Shares from registration under Section 12(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Changyou has informed Sohu that it intends to file with the SEC, ten days after Nasdaq files the Form 25, a Form 15 suspending Changyou’s reporting obligations under the Exchange Act and withdrawing the registration of Changyou Class A Ordinary Shares under the Exchange Act. Changyou’s obligations to file with or furnish to the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will terminate once the deregistration of Changyou Class A Ordinary Shares becomes effective.

China Renaissance, through its subsidiary CRP-Fanya Investment Consultants (Beijing) Limited, has served as financial advisor to Sohu in connection with the Changyou Merger; Goulston & Storrs PC has served as U.S. legal counsel to Sohu; and Han Kun Law Offices has served as PRC legal counsel to Sohu.

Houlihan Lokey (China) Limited has served as financial advisor to the committee of independent and disinterested directors established by Changyou’s board of directors (the “Changyou Special Committee”) to review and evaluate the Changyou Merger; and Skadden, Arps, Slate, Meagher & Flom LLP has served as U.S. legal counsel to the Changyou Special Committee.

Conyers Dill & Pearman has advised as to Cayman Islands legal matters with respect to the Changyou Merger.

About Sohu

Sohu is China’s premier online brand and indispensable to the daily life of millions of Chinese, providing a network of web properties and community based/web 2.0 products which offer the vast Sohu user community a broad array of choices regarding information, entertainment and communication. Sohu has built one of the most comprehensive matrices of Chinese language web properties and proprietary search engines, consisting of the mass portal and leading online media destination www.sohu.com; interactive search engine www.sogou.com; developer and operator of online games www.changyou.com and the online video website tv.sohu.com.

Sohu’s corporate services consist of online brand advertising on Sohu’s matrix of websites as well as bid listing and home page on its in-house developed search directory and engine. Sohu also provides multiple news and information services on mobile platforms, including Sohu News App and the mobile news portal m.sohu.com. Sohu’s online game subsidiary Changyou develops and operates a diverse portfolio of PC and mobile games, such as Tian Long Ba Bu (“TLBB”), one of the most popular PC games in China. Changyou also owns and operates the 17173.com Website, a game information portal in China. Sohu’s online search subsidiary Sogou (NYSE: SOGO) has grown to become the second largest search engine by mobile queries in China. It also owns and operates Sogou Input Method, the largest Chinese language input software. Sohu, established by Dr. Charles Zhang, one of China’s internet pioneers, is in its twenty-fourth year of operation.

For investor and media inquiries, please contact:

In China:

In the United States:

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Source: Sohu.com Ltd.

PR Newswire

Launch Ceremony of “Yiwugo Live Streaming” & Debut of Yiwugo Top Landladies

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YIWU, China, April 17, 2020 /PRNewswire/ — Yiwugo.com, the official website of the Yiwu Commodity Market, which is the largest commodity wholesale market in the world, held the “Launch Ceremony of Yiwugo Live Streaming & Debut of Yiwugo Top Landladies” at 2:00 pm, April 15, 2020. Ten landladies who had received the title of “Yiwugo Top Landladies” participated in the event and made their debut on the “Yiwugo Live Streaming” platform to recommend products for the audience.

The “2020 Yiwugo Top Landladies”, including Ye Yili from Shifeng Socks Firm; Long Dongzhao from Bacai Toys Firm; Fu Jiangyan from Zhangweichao Socks Firm; Deng Tingting from Nantong Ennas Home Textile Co., Ltd.; Zhang Jiying from Zhejiang Xingbao Umbrella Co., LTD; Li Jun from Yiwu Zongxin Shoes Co., LTD; Fang Hongying from Hongying Magnet; Shi Guangxu from Brilliant Diamond Painting DIY; Zhu Jingwen from Yiwu Chunchao Hatting Factory; and Zhang Limin from Yiwu Weigang Hardware Firm, not only brought the most recommendable flagship products of their stores, but also launched attractive promotional schemes for this live streaming show. Besides, Yiwugo invited Song Yu, the top host in Yiwu to moderate this live streaming show, and Mr. Wang Jianjun, CEO of Yiwugo, also participated to cheer for the landladies. The products introduced by the landladies during the live streaming show preceded waves of purchase orders.

Different from other streaming platforms that depend on “Internet celebrity” to bring traffic and orders, the “Yiwugo Live Streaming” platform featured the business owners who have great insights into the product features, production process and market advantages to recommend the products in person. As the purchase requirements of wholesale buyers are highly rational and professional, they require more specialized product introductions. As business owners know best about their own products, they may present professional product introductions through live streaming and directly address the concerns of the buyers, thus significantly increasing the deal-closing ratio and meeting the particular conditions of the Yiwu market.

2020 - Yiwugo Top Landladies
2020 – Yiwugo Top Landladies

Besides, the “Yiwugo Live Streaming” platform, which is “grafted” onto the Yiwugo APP, also features a matching intelligent recommendation system. During the live streaming process, the system will automatically match and recommend live streaming businesses for interested buyers who have logged on Yiwugo according to their previous research and purchase data. Once the user followed a certain business, it will also receive live streaming recommendations from the business. As more functions are added to the “Yiwugo Live Streaming” platform in the future, Yiwugo will not only help buyers to easily locate their desired goods, but also contribute to closing more deals.

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PR Newswire

SenSen Networks Secures ~USD$1.5M Smart City Contract in US

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SYDNEY, April 17, 2020 /PRNewswire/ — Australian Artificial intelligence solutions provider, SenSen Networks Ltd (ASX: SNS) has today announced it has been awarded a ~USD$1.5M tender with the City of Las Vegas to provide a range of intelligent transportation and smart city solutions. The agreement will support the City of Las Vegas’ goal to become a true Smart City by 2025.

SenSen’s technology will be used to assist the City of Las Vegas in keeping roads safe and congestion free by automating the enforcement of hundreds of bylaws associated with regulating traffic and parking on city streets.

The initial deal, which will be rolled out later this year, will see the introduction and management of two SenForce mobile parking enforcement units and 80 of its Gemineye mobile units. The ultra-portable nature of the Gemineye solution means units can be deployed across enforcement vehicles and car parks, as well as segways, Go4 scooters and city officers.

Commenting on the Contract win, SenSen CEO, Dr Subhash Challa, said,

“SenSen is extremely proud to be working with the City of Las Vegas. Las Vegas is a flagship US city and SenSen is excited to be providing its world-leading AI and video analytics expertise in improving the amenity of the City’s citizens by helping reduce traffic congestion and efficiently manage its parking.” 

“This is a major milestone for our business in the US. We expect operations will continue to grow as more and more forward-thinking cities seek Smart City intelligent transportation solutions.”

The contract marks the first commercial rollout of SenSen technology with a flagship US city customer, while the 80 Gemineye units to be deployed as part of the contract is the largest commercial implementation with a single SenSen customer to date. The City of Las Vegas, is on track to become a Smart City by 2025 with SenSen assisting with its intelligent transportation systems and smart technology.

The City of Las Vegas is an internationally renowned major resort and entertainment city, with over 42 million visitors annually. It is the most populous city in the State of Nevada, USA and serves as the leading financial, commercial and cultural centre for the State.  The City has a population of more than 650,000 residents while the larger Las Vegas metropolitan area has a population of more than 2 million.

The City of Las Vegas contract builds upon SenSen’s expanding footprint in the US, following the ongoing collaborative services agreement with Chicago Parking Meters, LLC to improve parking space management efficiency in the City of Chicago.

For more information please visit: https://www.sensennetworks.com/ 

Notes to Editor

Valuation of Contract Win

There are no material conditions that need to be satisfied prior to the commencement of the contract and SenSen will earn a total of US$1,584,500 over the five-year term of the contract, including:

  • US$397,600 for the systems, software and commissioning of the units, which will be paid in a milestone delivery-based schedule from May to August 2020.
  • US$237,380 annually in recurring revenues and fees for the software licence, hardware maintenance and support services under the five-year term of the contract. This Software as a Service (SaaS) revenue will be paid in equal monthly instalments of US$19,781 over 5 years (60 payments).

Please see attached full media kit here.

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PR Newswire

Chunghwa Telecom 2019 Form 20-F filed with the U.S. SEC

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TAIPEI, April 17, 2020 /PRNewswire/ — Chunghwa Telecom Co., Ltd (TAIEX: 2412, NYSE: CHT) (“Chunghwa” or “the Company”) today announced that the Company filed its 2019 Annual Report on Form 20-F with the U.S. Securities and Exchange Commission. The Form 20-F filing is available at https://www.cht.com.tw/en/home/cht.

Hard copies of the Company’s complete audited financial statements can also be requested, free of charge, by contacting Chunghwa, by phone or in writing, at the following address:

Chunghwa Telecom Co., Ltd.
Investor Relations
21-3 Hsinyi Road, Sec. 1, Taipei, Taiwan 100
Tel: +886 2 2344-5488
email: chtir@cht.com.tw

Website: https://www.cht.com.tw/en/home/cht

About Chunghwa Telecom

Chunghwa Telecom (TAIEX 2412, NYSE: CHT) (“Chunghwa” or “the Company”) is Taiwan’s largest integrated telecommunications services company that provides fixed-line, mobile, broadband, and internet services. The Company also provides information and communication technology services to corporate customers with its big data, information security, cloud computing and IDC capabilities, and is expanding its business into innovative technology services such as IoT, AI, etc. In recent years, Chunghwa has been actively involved in corporate social responsibility and has won domestic and international awards and recognition. For more information, please visit our website at www.cht.com.tw.

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Source: Chunghwa Telecom Co., Ltd.

PR Newswire

Globe Invests in Cloud Business to Expand ICT Capabilities

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MANILA, Philippines, April 17, 2020 /PRNewswire/ — Globe Telecom, Inc. (“Globe”) has entered into an agreement to acquire substantially all of the assets of US-based Cloud Consulting Companies, Cascadeo Corporation and Cascadeo Partners (referred to as Cascadeo) for US $4M. Globe shall incorporate new entities through which the acquisition will be made. As part of the transaction, Globe, along with Cascadeo, will make follow up investments into the entities for growth capital to fund the company’s expansion strategies. Full execution of the agreement is targeted in the next few months following completion of regulatory approvals.

This investment echoes Globe’s trust to build a robust ICT portfolio and deliver tools and solutions that propel businesses to stay competitive towards the digital future. Globe’s vast resource pool and extensive reach in the Philippine market together with Cascadeo’s specialized expertise in cloud-based products and services bring forth synergies, which will be passed on to the Philippine and US enterprise clients through an upgraded cloud-based product and service offering.

“The joint venture with Cascadeo will further strengthen our ability to invent, innovate, and experiment,” said Globe President and CEO, Ernest Cu. “We will be leveraging on Cascadeo’s Cloud-Native Consulting and Managed Services capabilities to further solidify our credibility as a cloud solutions provider for enterprises and small and medium business customers who are ready to digitally transform.” The deal forms part of the strategy of Globe Business to accelerate development of its ICT capabilities and solutions and to provide their customers a complete suite of cloud-native products and services.

“We’re excited to have a partner like Globe in the next stage of our growth journey. Their commitment to cloud-first and speed of adoption are rare to see in large organizations. We also admire that Globe has balanced achieving business goals with taking care of their people. We continue to be amazed by the talent of the Filipino workforce and partnering with Globe will be instrumental in helping us become an employer of choice as we broaden our footprint in the Philippine market,” said Jared Reimer, CEO of Cascadeo Corporation.

Founded in 2006, Cascadeo is one of only a few elite Amazon Web Services (“AWS”) Premier Consulting Partners in North America and is also a Managed Services Provider (“MSP”). Their expertise is on automation, Cloud-Native Platform as a Service, Data Analytics, Serverless Infrastructure and programmatic security. They also have professional consulting services and managed operations for customer deployments on AWS, Azure, Google Cloud Platform, NetApp Cloud Solutions and even on-premise VMWare private cloud environments. Cascadeo is head-quartered in Seattle, Washington and maintains a Cloud Operations Center of Excellence in Manila, which supports their customers in the US and the Philippines.

About Globe

Globe is a leading full-service telecommunications company in the Philippines and is publicly listed in the Philippine Stock Exchange with the stock symbol GLO. The company serves the telecommunication and technology needs of consumers and businesses across an entire suite of products and services including mobile, fixed, broadband, data connectivity, internet and managed services. It has major interests in financial technology, digital marketing solutions, venture capital funding for startups, entertainment, and virtual healthcare. Its principal shareholders are Ayala Corporation and Singtel, acknowledged industry leaders in the country and in the region.

Globe News Room: globe.com.ph/about-us/newsroom
Follow @enjoyglobe on Facebook, Twitter, Instagram and YouTube.

About Cascadeo

Founded in July 2006, Cascadeo, a US-based entity with a subsidiary in the Philippines, is a Premier AWS Consulting Partner and Managed Services Provider (MSP) that specializes in cloud migration, artificial intelligence and machine learning. Originally established to focus on data centers and customized managed hosting, Cascadeo has evolved to become a Premier AWS Consulting Partner that also provides on-going managed services within the public cloud ecosystem. The company also has partnerships or certifications with other cloud vendors such as Microsoft Azure, Google Cloud Platform, Kubernetes and NetApp Cloud Solutions. Cascadeo.io, an AIOps-enabled platform, is considered the next generation managed services delivered as a SaaS (Software as a Service).

For more information, visit www.cascadeo.com

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Source: Globe Telecom, Inc.

PR Newswire

OctaFX Is Donating 25,000 USD to COVID-19 Relief

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KINGSTOWN, Saint Vincent and the Grenadines, April 17, 2020 /PRNewswire/ — OctaFX is a Forex broker implementing online trading services globally since 2011. It offers a state-of-the-art trading experience to over one million users. OctaFX has won more than 20 awards since its foundation, including the Best Forex Broker Asia 2019 award. The company is well-known for its social and charity activity. They announced an initiative to help combat the virus, which has affected many, with a 25,000 USD donation.

OctaFX is Donating 25,000 USD to COVID-19 Relief 
OctaFX is Donating 25,000 USD to COVID-19 Relief 

The beneficiaries of the 25,000 USD contribution are Aksi Cepat Tanggap, Indonesia, a humanitarian organisation; Malaysian Red Crescent Society, Malaysia; Vallalar Educational Trust, India; and Award Pakistan, Pakistan. These charities specifically serve impoverished families, medical workers, and those most impacted by the fallout from COVID-19. The donation will go towards purchasing of medical masks, hand sanitizers, and food. 

They reported that this is not their only initiative. Just recently they declared that they would be dramatically reducing their spreads up to 14 points. They have also asked locals to enquire about humanitarian organisations that could also benefit from an OctaFX monetary contribution. They’ll be holding a benefit lasting a month later beginning on the 23rd of April which will raise money to help those in need.

OctaFX always seeks new ways in which to provide support to local communities. They’ve challenged other brokers to match their relief efforts by cutting spreads and donating. OctaFX has a detailed history providing public assistance, and this is another example of how they value society. 

Follow OctaFX on Instagram

Photo: https://techent.tv/wp-content/uploads/2020/04/octafx-is-donating-25000-usd-to-covid-19-relief.jpg

Contact: marketing@octafx, +34-691-370-613

PR Newswire

SHL Announces Free Access to RemoteWorkQ For Individuals

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SHL’s groundbreaking new questionnaire provides insights into remote-work skills, allowing individuals to showcase their ability to flourish in the new world of remote working

MINNEAPOLIS, April 17, 2020 /PRNewswire/ — SHL, the market leader in talent solutions, announced yesterday the release of a free version of the new RemoteWorkQ for individuals seeking to discover their personal strengths, areas for development and need for support in a remote working environment.

As a result of the COVID-19 pandemic, millions of employees are now working from remote locations, while others have been furloughed or lost their jobs. Furthermore, nearly 74% of organizations intend to continue a remote work model even after COVID-19 restrictions subside.

The RemoteWorkQ, created by SHL and based on decades of research, data, and scientific expertise, is rooted in eight specific competencies necessary for individuals to excel in a remote working environment – with an emphasis on maintaining productivity, healthy workplace relationships, and overall well-being.

Individuals who complete the short 10-minute RemoteWorkQ receive a personalized report that outlines their remote working strengths, areas for development, and need for support – all with the scientific credibility that only SHL can provide. The report also includes development tips for increasing success as a remote employee.

“There are millions of people in the world adjusting to a new way of working, as well as others who are looking for a competitive edge back into the workforce,” said Andy Bradshaw, SHL CEO. “We have created a free version of the RemoteWorkQ specifically for these individuals so they can discover the unique value they add to this new world of working. Life will go on after COVID-19 and the RemoteWorkQ will play a key role in ensuring individuals are prepared to thrive.”

The RemoteWorkQ is also available as an enterprise offering through subscription on SHL’s TalentCentral; it includes robust reporting and analysis for organizations to understand their strengths and areas for development at scale.

Individuals can take advantage of the new RemoteWorkQ today.

About SHL 
SHL exists to help you win. At a time of unprecedented change, we provide deep people insights to predict and drive performance.

Our world-class talent solutions empower leaders and their teams to make unbiased decisions throughout the employee journey. With 40+ years of talent expertise, cutting-edge assessment science and more than 45 billion data points, we have an unparalleled view of the workforce. SHL partners with organizations of all sizes – from start-ups to multinational firms – worldwide to deliver proven business results from people investments. www.shl.com 

Contact 
Kristina Iniguez
PR@shl.com 

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PR Newswire

Hainan Free Trade Port: A witness to China’s continued opening-up

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BEIJING, April 16, 2020 /PRNewswire/ — A news report by China.org.cn on Hainan Province, a provincial-level free trade port:

 

Hainan, the southernmost island province of China, has been attracting people from around the world for years with its blue waters, towering coconut trees, year-round sunshine and sandy beaches. Starting this year, China will build an open and distinctive free trade port on this beautiful island.

The Hainan Free Trade Port will be a special functional economic area with the highest level of openness in the world. Overseas products and funds will have free access within the port, and the majority of goods will be exempt from tariffs. This move reflects China’s determination to further open up to the rest of the world.

Thirty-two years ago, the Chinese government established the province of Hainan on what was then a closed-off and underdeveloped border island. It was later designated as a special economic zone (SEZ) to attract foreign investment with its preferential tax rates and favorable business environment. In 1992, Hainan established the Yangpu Economic Development Zone, the first zone in China to be comprehensively developed by foreign investors. Eight years later in 2000, Hainan took the lead to implement a policy of visas on arrival. The following year, the town of Boao in Hainan became the permanent venue for the annual Boao Forum for Asia. A series of initiatives like these have allowed Hainan to continue developing. Establishing special economic zones was also a breakthrough in China’s opening-up.

Back in 2018, Hainan created a pilot zone for free trade on the island. Two years later, it began to explore and establish a free trade port with Chinese characteristics, meaning, greater freedom in finance, investment and the flow of talents. The essence of the port goes beyond trade or favorable policies; it creates a truly open environment at the highest level in terms of the governance system, legal institutions and technological innovation, amongst others.

Hainan is blessed with a picturesque landscape. Its industrial structure focused around tourism and modern services will not only become an advantage and characteristic for the Hainan Free Trade Port, but also coincide with the rapid trade growth in global services and are in line with the development of many ports toward the service sector. Besides, as a provincial level SEZ, a free trade zone and a port, Hainan enjoys its scale. It also has comprehensive experience and has made such institutional innovations as “province-wide one-stop business registration” and “an integrated big data society governance system.”

All these factors will enable Hainan to become a global center for the trade in services. Meanwhile, as a pivot of the Belt and Road Initiative, the Hainan Free Trade Port will not only promote multilateral free trade and regional economic integration, but also share the benefits brought from China’s development with more countries.

Hainan’s evolution from special economic zone to free trade pilot zone, and now today’s free trade port, not only bears witness to its development, but also the continual opening-up of China, as well as its determination to build an open global economy featuring innovation and inclusiveness. Hopefully, in the future, more companies and talented personnel from around the world will come to the island and share in the benefits of free trade.

China Mosaic
 http://www.china.org.cn/video/node_7230027.htm

Hainan Free Trade Port: A witness to China’s continued opening-up
http://www.china.org.cn/video/2020-04/16/content_75939128.htm

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PR Newswire

COVID-19 Pandemic Impact: Workforce Shortages and Uncertainty will Cause 5G Network Infrastructure Revenue to Drop As Much As 10% in 2020

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ABI Research whitepaper identifies the short-and long-term impacts the global pandemic will have on 5G and Mobile Network Infrastructure

OYSTER BAY, New York, April 16, 2020 /PRNewswire/ — The outbreak of COVID-19 has created a crippling effect, not only on service industries, but also on manufacturing enterprises, including 5G infrastructure vendors. Despite the current ongoing discussion on OpenRAN and open networks, most advanced 5G networks still rely on Tier One infrastructure vendors and their supply chain has been disrupted. The shortages of component manufacturing and/or network workforce deployment, such as integration engineers, are the main reasons of this disruption. These disruptions  will cause 2020 5G network infrastructure revenue to fall as much as 10% of the forecasted US$2.1 billion, states global tech market advisory firm, ABI Research.

“The current virus outbreak will likely delay the deployment of advanced 5G NR systems, including Massive Multiple Input, Multiple Output (MIMO) and active antennas that several operators have already started deploying,” explains Jiancao Hou, Senior Analyst at ABI Research. This may mean that operators that have already deployed a significant number of base stations will be in a better position to become early adopters and benefit from an earlier transition from previous generations to 5G, but this will rely on the availability of relevant handsets. In the short term, 5G radio deployments will be delayed further due to geopolitical constraints and COVID-19.

“In the longer term, while 5G’s momentum will be slowed, new use cases will emerge,” says Hou.  It is important for mobile operators to broaden their supply chain and avoid a single-vendor infrastructure market. Apart from that, the effects of the virus outbreak will likely accelerate more innovative use cases and services. “For example, considering a 5G Ultra-Reliable Low-Latency Communications (URLLC) scenario, if surgery and health monitoring can be done remotely, the doctor will not need to physically meet the patient infected with the virus.”

A great lesson has been provided by the virus breakout to both network operators and related authorities. “The former should be able to manage the risk of relying on a few vendors dominating the infrastructure market. The latter should embrace new technologies and understand how these can be used in turbulent times to improve business and society,” Hou recommends.

For a clearer picture of the current and future ramifications of COVID-19 across technologies and verticals, including 5G and Mobile Network Infrastructure, download the whitepaper Taking Stock of COVID-19: The Short- and Long-Term Ramifications on Technology and End Markets.

About ABI Research
ABI Research provides strategic guidance to visionaries, delivering actionable intelligence on the transformative technologies that are dramatically reshaping industries, economies, and workforces across the world. ABI Research’s global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors. 

ABI Research提供开创性的研究和战略指导，帮助客户了解日新月异的技术。 自1990年以来，我们已与全球数百个领先的技术品牌，尖端公司，具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。 

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.

Contact Info:

Global
 Deborah Petrara
Tel: +1.516.624.2558
pr@abiresearch.com  

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PR Newswire

GSIL and Samsung Engineering Sign Contract for Smart Safety Management System

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SEOUL, South Korea, April 16, 2020 /PRNewswire/ — In mid-March, GSIL, a member company of the Born2Global Centre, signed a new contract with the Korean conglomerate Samsung Engineering for the supply of GSIL’s smart safety management system to the construction site of Samsung Engineering’s Motor Control Center (MCC) at Green Building in Pyeong-taek, South Korea. The purpose of the contract is to implement safety policies and systems for employees who work in stuffy, airtight environments.

GSIL CI
GSIL CI

GSIL independently developed a smart safety management system for the prevention of safety accidents and the elimination of safety “gray areas” at construction sites. The system features a function that can ascertain a worker’s current location as well as an SOS-enabled emergency rescue system.

The system that GSIL will be providing not only tracks worker locations but also uses a large-screen tablet PC, installed at the water tank at each work site, to allow workers to exchange information about their work environment and receive alarms in the event of an accident or other problem. The system collects data and transmits real-time updates on the work environment, providing information on oxygen, carbon monoxide, carbon dioxide, combustible gas, and hydrogen sulfide levels in the water tank. This quick information system makes it possible to prevent injury and fatal accidents related to low oxygen levels or the influx of harmful gases into an airtight setting.

GSIL’s system also provides a timeline of workers entering and exiting the water tank that can be viewed anytime and maintains records on individual workers, indicating whether each worker has completed safety training and has received his/her annual health check-up. The system also features a well-organized rescue system for emergency situations that only requires the worker to press the SOS button on his/her sensor, which then immediately sounds an SOS alarm on all connected mobile and web devices, ensuring that everyone can quickly be made aware of the situation.

On March 20, the Ministry of Land, Infrastructure and Transport (MOLIT) promulgated a revised version of the Enforcement Rule of the Construction Technology Promotion Act that expanded the list of safety management fees that are required for the introduction of smart safety equipment. The revised rule’s addition of establishment/operation fees for safety management systems that utilize wireless communications/equipment to the list of official safety management expenses creates the necessary foundations for the use of cutting-edge technology at construction sites, namely through the application of smart safety equipment (based on IoT, big data, etc.). When passing the revised legislation, the MOLIT stressed its commitment to prioritizing the safety of on-site personnel by establishing a “quick response” basis for the early detection and removal of construction site dangers. The revised enforcement rule is expected to diversify the environments that can be equipped with GSIL’s smart safety management system.

Lee Jung-woo, CEO of GSIL, said, “The Pyeongtaek-Godeok construction site is a very important location in terms of Samsung Electronics’ enlargement of its new semiconductor facilities, which are expected to increase in number over the next ten years. GSIL is anticipating that the construction site will expand through Green building 1 and 2, which are the targets of this most recent contract.” GSIL is preparing the safety management system which can be applied to the confined area, such as the Samsung Engineering Tangjeong site and Samsung Electronics’ wastewater treatment facility.

Founded in 2016, GSIL has established and is operating smart construction management systems for work sites affiliated with the Korea Rail Network Authority (Gangwon branch), Korea Midland Power, and Samsung Engineering. It is also preparing to enter the Middle Eastern market and has already signed an agent contract with a subsidiary of the Bayan National Construction Contracting Company, a general construction company that is based in Kuwait. GSIL is also currently involved in negotiations for the application of its safety system and/or collaborative endeavors related to the F1 circuit (Kuwait Motor Town) and a smart city in Kuwait, PEPCO in the USA, Long Son Petrochemical in Vietnam, and a power plant in Indonesia.

For more detailed information on GSIL, visit http://www.gsil.net/.

Media contact

Jane Shin
Manager, GSIL
jane@gsil.kr

Jina Lee
PR Manager, Born2Global Centre
jlee@born2global.com

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