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AI & Enterprise

Baek Kyung-hoon discusses AI, digital cooperation with Saudi Arabia

Baek Kyung-hoon (배경훈), South Korea’s deputy prime minister and science and ICT minister, met Saudi Arabia’s Minister of Communications and Information Technology Abdullah bin Amer Al-Swaha on July 16 to discuss cooperation in AI and digital fields. They shared a vision to expand policy investment and support in AI. Talks also covered cooperation on a Korean-style full-stack AI model, public sector AI transition, and digital infrastructure including cloud and AI data centres.

Industry

Solum wins Saudi EV charger manufacturing incentive approval, first for Korean company

Solum has become the first South Korean company to win Saudi government incentive approval in electric vehicle charger manufacturing, it said on Sunday. The electronic components maker received final approval under the Standard Incentives for the Industrial Sector programme and secured Saudi government subsidies. Solum is pursuing a joint venture with local partner AL BAKHEET and is in talks to build an EV charger plant using its own power modules.

World News

Five largest IPOs revisited as SpaceX plans listing

As Elon Musk\'s SpaceX pursues an initial public offering of about $75 billion, attention has returned to the world’s biggest IPOs to date. South China Morning Post reported that energy, e-commerce, telecoms, autos and finance dominate the top ranks. Saudi Aramco raised $29.4 billion in 2019, followed by Alibaba at $25.0 billion in 2014, SoftBank at $23.6 billion in 2018, General Motors at $23.1 billion in 2010 and Agricultural Bank of China at $22.1 billion in 2010.