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GACA, Microsoft Sign MoU on Digital Transformation

GACA, Microsoft Sign MoU on Digital Transformation
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GACA, Microsoft Sign MoU on Digital Transformation

GACA, Microsoft Sign MoU on Digital Transformation

The General Authority of Civil Aviation (GACA) has signed a memorandum of understanding with Microsoft Arabia Ltd. on the sidelines of the International Technology Conference held at the Riyadh Front Expo.

The memorandum was signed on behalf of GACA by the Director General of Technology and Digital Transformation, Eng. Abdullah bin Fahd Al-Shaya, while it was signed on behalf of Microsoft by its general manager, Thamer Al-Harbi.

The MoU aims to enhance joint cooperation between the two sides in the areas of digital transformation, innovation and capacity building.

It comes within the objectives of the civil aviation sector strategy to enhance the scope of cooperation in the field of technology and digital transformation, which GACA is keen to activate with international institutions and companies specialized in advanced technical fields. This in order to keep pace with the latest developments in the field of digital transformation, and in line with the directions of the Kingdom’s Vision 2030.

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South Korea's SK Hynix to Invest $75 Bln by 2028 in AI, Chips

The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. (Reuters)
The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. (Reuters)
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South Korea's SK Hynix to Invest $75 Bln by 2028 in AI, Chips

The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. (Reuters)
The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. (Reuters)

South Korea's SK Hynix, the world no.2 memory chip maker, will invest 103 trillion won ($74.6 billion) through 2028 to strengthen its chips business, focusing on AI, its parent SK Group said on Sunday.

SK Group also said it plans to secure 80 trillion won by 2026 to invest in artificial intelligence and semiconductors as well as fund shareholder returns, while streamlining its more than 175 subsidiaries.

The sprawling conglomerate outlined the plans following a two-day strategy meeting, aiming to revive the group after SK Hynix, its main money maker, and the group's electric vehicle battery arm suffered heavy losses.

SK Group said it sought to improve its competitiveness by focusing on its AI value chain, including high bandwidth memory (HBM) chips, AI data centres and AI services such as personalised AI assistants.

At a time of transition, a "preemptive and fundamental change is necessary," SK Group Chairman Chey Tae-won was quoted as saying in the statement

During the meeting, the executives also agreed to take gradual steps to adjust the number of subsidiaries in the group to a "manageable range", without specifying the scale of the reduction.

Local media had said SK Innovation, which owns the county's largest oil refiner and battery maker SK On, was expected to pursue a merger with profitable gas affiliate SK E&S.

The group expects its profit before tax to reach around 22 trillion won this year, turning around from a loss last year, with the goal of hitting 40 trillion won in profit before tax by 2026.

South Korea, home to the world's top memory chip makers Samsung Electronics and SK Hynix, has fallen behind some rivals in areas such as chip design and contract chip manufacturing.

Earlier this year, the government announced a 26 trillion won ($19 billion) support package for its chip businesses, citing a need to keep up in areas like chip design and contract manufacturing amid 'all-out warfare' in the global semiconductor market.