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Saudi Arabia Highlights Cybersecurity Achievements, Urges Global Collaboration at UN Debate

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)
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Saudi Arabia Highlights Cybersecurity Achievements, Urges Global Collaboration at UN Debate

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia's Ambassador and Permanent Representative to the UN Dr. Abdulaziz Alwasil emphasized the critical need for a secure and reliable cyberspace that fuels growth and prosperity.

Speaking at a day-long UN Security Council debate on evolving cyberspace threats, Alwasil underscored the importance of prioritizing cybersecurity efforts globally, reported the Saudi Press Agency on Saturday.

He stressed that robust cybersecurity is essential for safeguarding nations' vital interests and national security.

Alwasil advocated for strengthened international cooperation in cybersecurity and urged combined efforts to mitigate cyber risks. He stressed the need for the international community to adopt a serious and practical approach to unifying global efforts against cyberspace threats through relevant UN committees and specialized bodies.

Moreover, he highlighted the significant and rapid progress achieved in Saudi Arabia's cybersecurity sector, which aligns with the goals outlined in Vision 2030.

The Kingdom has embarked on a transformative journey to develop the "Saudi model" in cybersecurity based on centralized governance and decentralized operability, he went on to say.

Alwasil detailed the Kingdom's accomplishments in cybersecurity, including achieving a global ranking of second, and first in the Arab world, the Middle East, and Asia according to the International Telecommunication Union (ITU) Global Cybersecurity Index.

The Kingdom has also secured second place globally in 2022 and 2023 in the World Competitiveness Yearbook's cybersecurity indicator, published by the Swiss-based Institute for Management Development (IMD). This year, Saudi Arabia solidified its global leadership in cybersecurity by claiming the top spot in the World Competitiveness Yearbook.

Alwasil said the Kingdom's establishment of the Global Cybersecurity Forum (GCF), a Riyadh-based organization dedicated to bolstering cybersecurity on an international scale.

Alwasil emphasized Saudi Arabia's commitment to fostering regional cooperation in boosting cybersecurity. This commitment is exemplified by the establishment of the Gulf Cooperation Council (GCC) Cybersecurity Ministerial Committee and the League of Arab States (LAS) Arab Cybersecurity Ministerial Council, both spearheaded by Saudi Arabia.

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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.