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Industry

Hanwha Solutions to use 2.4 trillion won to defend credit rating, repay borrowings

Hanwha Solutions approved a 2.4 trillion won rights issue to overhaul its financial structure and pre-empt pressure on its credit rating by directly repaying debt. Of the proceeds, 1.5 trillion won will be used to redeem bonds, commercial paper and credit lines maturing this year, targeting a consolidated debt ratio below 150 percent by year-end. The remaining 900 billion won will fund solar technology investments over three years. The company also disclosed a 2026-2030 shareholder return policy.

Industry

U.S., Japan, Korea NAND group to invest 3.5 trillion won in Taiwan's Nanya Tech to secure DRAM

A DRAM shortage driven by surging AI demand is leading NAND makers to invest directly in DRAM producers to lock in supply. Taiwan's Nanya Technology raised about $2.5 billion in a private placement from SanDisk Technologies, Solidigm, Cisco Systems and Kioxia. SanDisk and Kioxia also signed long-term DRAM supply agreements with Nanya. Nanya plans to use the funds for advanced DRAM plant facilities and equipment.

AI & Enterprise

National AI strategy committee steps up cooperation with Cisco on AI security, talent training

South Korea's National Artificial Intelligence Strategy Committee said on Wednesday it will strengthen cooperation with U.S. network and security company Cisco. Standing Vice Chair Lim Moon-young met Cisco Senior Vice President Pastora Valero, who oversees international policy, to discuss mutually beneficial cooperation to respond to the era of AI technological hegemony. The two sides agreed that talent is the fundamental driving force in the AI era and will expand training of practical AI and security professionals through Cisco's Networking Academy.