Connect with us

News

ECFC Welcomes New Board of Director Members With 39th Annual Conference on Horizon

gbafNews28

ECFC, the leading nonprofit organization promoting choice in benefit solutions, announced today the election of five new board of directors as well as the re-election of three other board members.

We want to congratulate our newly elected board of director members and our re-elected members. We look forward to benefiting from their counsel throughout the year and bringing everyone together at our annual conference, said Christa Day, Executive Director of ECFC. The collective experience and knowledge of our board of directors will help us to continue to expand our mission of advancing healthcare consumerism.

The new board appointments are announced as ECFC prepares its 39th Annual Conference from March 18-20 in Washington, D.C. The conference will feature congressional speakers, in-depth briefings, inside the beltway keynote speakers, regulatory agency perspective, technical panels and scheduled meetings on Capitol Hill with congressional members and staffers.

The new ECFC Board of Directors are:

  • Becky Seefeldt, Vice President of Strategy, Benefit Resource, Inc.
  • Chris Erickson, President and Founder, Benefit Extras, Inc.
  • Thad Inge, Manager of Government Relations, Paychex, Inc.
  • William Stuart, Director of Strategy and Compliance, Benefit Strategies, LLC.
  • Philip Mason, Director of Healthcare Services, UMB Healthcare Services.

Newly re-elected board members include Kim Kaczmarek, Vice President, Global Healthcare Product Development and Innovation Director, MasterCard; Joan Christensen, Vice President, Healthcare & Insurance Solutions, Fiserv; and Charles Zelazny, CEO, Taxsaver Plan.

The ECFC Board of Directors consists of 18 members, four of which are elected At-Large. Each serves a three-year term. Terms coincide with the Annual Conference in March. Officers include a Chair, Vice-Chair, Secretary and Treasurer.

About ECFC

ECFC is a leading non-profit organization dedicated to maintaining and expanding employee benefit programs on a tax-advantaged basis. ECFC represents and promotes employee benefit programs through effective lobbying and provides education and awareness to members, compensation practitioners, national opinion leaders and the general public to help advance healthcare consumerism. ECFC, which was founded in 1981 as the Employers Council on Flexible Compensation, is the single organization that focuses its efforts on preserving, protecting and defending the tax-advantaged programs currently available to working families through employer plan sponsors. Visit ecfc.org for more information.

For ECFC Media Inquiries:

Greg Severin

314-239-4143

[email protected]

News

Open-sourced Blockchain Technologies Bring Back Cross-border Tours between Chinese Mainland and Macao

gbafNews28

SHENZHEN, China, Oct. 20, 2020 /PRNewswire/ — From September 23 onwards, Chinese mainland resumed issuing visas for visitors to Macao. Thanks to the mutual recognition system of Macao blockchain health code and Guangdong health code launched in May, mainland Chinese tourists can apply and use Guangdong health code to verify their health status when entering Macao. Up to date, more than 17 million people have cleared customs between Chinese mainland and Macao using the blockchain system. The average time of receiving, transforming, and generating the health code for the first time is only 100 seconds. And it will only take less than 3 seconds to complete the procedure when traveler clears customs again.

In May, Serviços de Saúde de Macau (SSM) and Macao Science and Technology Development Fund (FDCT) became the first to establish a blockchain-based health code system to fight the epidemic – Macao blockchain health code. It serves as an electronic pass for residents to access public places. It is a coherent part of Macao’s epidemic prevention measures and is later extended to add the mutual recognition mechanism with the Chinese mainland’s Guangdong health code system. Due to the epidemic, Macao suspended tourist visa application in January 2020. The establishment of Macao blockchain health code and the mutual recognition mechanism with Guangdong health code greatly improves the efficiency and accuracy of information verification across borders. It proves to be an effective solution to bring travel between Chinese mainland and Macao back to normal.

Macao blockchain health code is implemented based on China’s open-source blockchain platform FISCO BCOS and WeIdentity for reliable information verification across organizations.

Mutual recognition of health codes across jurisdictions has a major challenge to overcome – the information security and privacy protection regulations in both Chinese mainland and Macao. Health authorities in Chinese mainland and Macao need to verify the health information submitted by users crossing the border and yet they are not supposed to exchange data directly with each other to stay in compliance with their corresponding regulations. The way WeIdentity solution works – IDs and personal health data are encrypted to verifiable digital credentials signed by the issuing authorities and recorded on the consortium blockchain network serving the participating organizations. Users transmit data to the receivers directly via a secured communication channel. Receivers will be able to verify the integrity of the data received by comparing with the corresponding digital credentials as recorded on blockchain. Such a blockchain-based solution on one hand offers a robust data verification mechanisms among trusted parties, while at the same time ensures that the generation and the use of the Macao health code fully comply with the Personal Data Protection Act of Macao.

In addition, the mutual recognition mechanism enables the seamless conversion of health codes for the users without the need to fill in personal information repeatedly on different platforms, offering great convenience and ease of use for cross-border travelers.

With FISCO BCOS and WeIdentity, a robust solution is created to overcome the challenge faced by health authorities and border controls around the world and apparently offers an answer on how to enable cross-border travel once again during the time of a pandemic.

Continue Reading

News

Finalist Teams Announced for 2020 Asia Super Team: Reach for the Stars

gbafNews28

Social Collider to compete for USD$50,000 prize package

TAIPEI, Oct. 20, 2020 /PRNewswire/ — Asia Super Team is here again. 2020 is the seventh consecutive year the "Taiwanese government" has hosted the international competition together with "Taiwan External Trade Development Council", "TAITRA". This year, the theme is Reach for the Stars, with four-member corporate finalist teams — from Japan, Vietnam, Indonesia, Malaysia, South Korea, Singapore, Thailand, and the Philippines — who have qualified to participate in the November finals competition.

The eight teams are already preparing for the challenge to earn the Asia Super Team title. Due to COVID-19, this will be the first time the competition will be held completely online, so teams can experience Taiwan from the comfort and safety of their own environments. The champion team will win an incentive travel package to Taiwan for their company valued at US$50,000.

Be sure to follow the latest news and developments on the official MEET TAIWAN fan page. Plus enter a lucky draw for one roundtrip ticket to Taiwan by casting a vote. To support the Social Collider team from Singapore, log on to the official website during November 9-15 to cast a vote. Don’t miss out.

  • Event Duration: 18:00 November 9 to 23:59 November 15 (GMT +8)
  • Official Voting Website: asiasuperteam.meettaiwan.com
  • MEET TAIWAN Official Fan Page: www.facebook.com/meettaiwan

There were hundreds of applications for the Asia Super Team competition from businesspeople in Singapore. Congratulations to Social Collider for advancing to the second stage finals.

Asia Super Team Finalists:

  • JTB GMT (Japan): With 508 offices in 39 countries, they are a popular travel agency in Japan, promoting and facilitating overseas travelers.
  • NG Bio Co., Ltd. (Korea): A cosmetic manufacturer from Korea, providing popular products such as Pacomeri hand sanitizers throughout Asia.
  • Social Collider (Singapore): A leading co-work space rental company in Singapore, providing space, facilities, and other rental services to social enterprises in Singapore.
  • Balance Gaming Network (Thailand): A leading e-sports company in Thailand, building an e-sports network throughout America, Europe, Australia and South Eastern Asia.
  • St Nivel Tour Sdn Bhd (Malaysia): The leading travel agency in Malaysia, Perak, providing travel assistance to companies and individuals.
  • Teleperformance Philippines (the Philippines): The largest outsourced omnichannel customer experience management company in the Philippines, with more than 30,000 workstations in a variety of businesses.
  • Telkom Indonesia (Indonesia): The biggest telecom company in Indonesia, providing internet, digital communication services, and more.
  • Ngan hang TMCP Ban Viet (Vietnam): One of the leading banks in Vietnam, with 27 years of operation.

For more Asia Super Team information, please check asiasuperteam.meettaiwan.com

Continue Reading

News

SK hynix to Acquire Intel NAND Memory Business

gbafNews28

NEWS HIGHLIGHTS

  • SK hynix will pay US $9 billion for the Intel NAND memory and storage business, which includes the NAND SSD business, the NAND component and wafer business, and the Dalian NAND memory manufacturing facility in China.
  • SK hynix aims to enhance the competitiveness of its NAND flash solutions as one of the leading global semiconductor companies and grow the memory ecosystem to the benefit of customers, partners, employees and shareholders.
  • Intel will retain its Intel® Optane business and intends to invest transaction proceeds in long-term growth priorities.

SEOUL, South Korea and SANTA CLARA, Calif., Oct. 20, 2020 /PRNewswire/ — SK hynix and Intel today announced that they have signed an agreement on Oct. 20, KST, under which SK hynix would acquire Intel’s NAND memory and storage business for US $9 billion.

The transaction includes the NAND SSD business, the NAND component and wafer business, and the Dalian NAND memory manufacturing facility in China. Intel will retain its distinct Intel® Optane business.

SK hynix and Intel will endeavor to obtain required governmental approvals expected in late 2021. Following receipt of these approvals, SK hynix will acquire from Intel the NAND SSD business (including NAND SSD-associated IP and employees), as well as the Dalian facility, with the first payment of US $7 billion. SK hynix will acquire from Intel the remaining assets, including IP related to the manufacture and design of NAND flash wafers, R&D employees, and the Dalian fab workforce, upon a final closing, expected to occur in March 2025 with the remaining payment of US $2 billion. Per the agreement, Intel will continue to manufacture NAND wafers at the Dalian Memory Manufacturing Facility and retain all IP related to the manufacture and design of NAND flash wafers until the final closing.

With this acquisition, SK hynix aims to enhance the competitiveness of its storage solutions, including enterprise SSDs, in the rapidly growing NAND flash space, and further aims to leap forward as one of the leading global semiconductor companies in the industry. SK hynix expects that the transaction would enable SK hynix to grow the memory ecosystem to the benefit of customers, partners, employees and shareholders.

As the global leader in the semiconductor industry, Intel possesses industry-leading NAND SSD technology and quadruple level cell (QLC) NAND flash products.

For the first six months ended June 27, 2020, the NAND businesses represented approximately US $2.8 billion of the revenue for Intel’s Non-volatile Memory Solutions Group (NSG) and contributed approximately US $600 million to NSG operating income.

SK hynix developed the world’s first Charge Trap Flash (CTF)-based, 96-layer 4D NAND flash in 2018 and 128-layer 4D NAND flash in 2019. SK hynix will combine Intel’s solutions technology and manufacturing capability in order to establish a higher value-added 3D NAND solutions portfolio including enterprise SSDs.

Intel intends to invest transaction proceeds to deliver leadership products and advance its long-term growth priorities, including artificial intelligence, 5G networking and the intelligent, autonomous edge.

Intel and SK hynix will work together to ensure a seamless transition for customers, suppliers and employees. The two companies will work collaboratively as they did recently with DDR5, to better serve the growing demand from the memory-based semiconductor ecosystem.

"I am pleased to see SK hynix and Intel’s NAND division, which have led the NAND flash technology innovation, work to build the new future together," said Seok-Hee Lee, Chief Executive Officer (CEO) of SK hynix. "By taking each other’s strengths and technologies, SK hynix will proactively respond to various needs from customers and optimize our business structure, expanding our innovative portfolio in the NAND flash market segment, which will be comparable with what we achieved in DRAM."

Bob Swan, Intel CEO said, "I am proud of the NAND memory business we have built and believe this combination with SK hynix will grow the memory ecosystem for the benefit of customers, partners and employees. For Intel, this transaction will allow us to further prioritize our investments in differentiated technology where we can play a bigger role in the success of our customers and deliver attractive returns to our stockholders."

Click HERE to download the PDF copy

Advisors

Citi served as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP, K&C and Fangda Partners served as legal counsel to SK hynix. BofA Securities served as financial advisor and Munger, Tolles & Olson LLP, Wilmer Cutler Pickering Hale and Dorr LLP, Linklaters LLP and Bae, Kim & Lee LLC served as legal counsel to Intel.

About SK hynix

SK hynix, headquartered in Korea, is the world’s top tier semiconductor supplier offering Dynamic Random Access Memory chips ("DRAM"), flash memory chips ("NAND flash") and CMOS Image Sensors ("CIS") for a wide range of distinguished customers globally. SK hynix’s shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com.

About Intel

Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. To learn more about Intel’s innovations, go to newsroom.Intel.com and Intel.com.

© Intel Corporation. Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Other names and brands may be claimed as the property of others.

 

CONTACTS: 

For SK hynix
Global Public Relations

Jaehwan Kevin Kim
E-Mail: [email protected]

Sejin Julia Yoo
E-Mail: [email protected] 

Eun Suk Yixi Lee
E-Mail: [email protected]

 

For Intel

Tony Balow
Investor Relations
+1 (503) 696 0469
[email protected] 

Cara Walker
Media Relations
+1 (503) 696-0831
[email protected] 

 

Forward Looking Statements

This announcement has been prepared by SK hynix and Intel exclusively for information purposes. It does not constitute or include any advice or recommendation by SK hynix or Intel (or any other person) regarding the securities of SK hynix, including its Global Depositary Receipts (GDRs), or Intel or as to the merits of any transaction or the making of any investment decision. This announcement is not an offer to sell or a solicitation of an offer to buy or exchange or acquire securities. It does not constitute or include any confirmation or commitment by SK hynix or Intel (or any other person) regarding the present or future value of the business of SK hynix, Intel’s NAND memory and storage business or Intel, their securities, affiliates or any of their respective their assets.

Statements in this press release that refer to future plans and expectations, including with respect to the transactions contemplated by SK hynix’s agreement to acquire Intel’s NAND memory and storage business, NAND manufacturing and supply arrangements and other relationships between SK hynix and Intel, and SK hynix’s and Intel’s business and investment plans, are forward-looking statements that involve a number of risks and uncertainties. Words such as "anticipates," "expects," "intends," "goals," "plans," "believes," "seeks," "estimates," "continues," "may," "will," "would," "should," "could," and variations of such words and similar expressions are intended to identify such forward-looking statements. Statements that refer to or are based on estimates, forecasts, projections, uncertain events or assumptions, including statements relating to the benefits of the transactions contemplated by SK hynix’s agreement to acquire Intel’s NAND memory and storage business; the timing and closing conditions of such transactions, including with respect to applicable governmental approvals; anticipated trends in SK hynix’s or Intel’s businesses or the markets relevant to them; investment returns and benefits; and future products and technology and the availability and benefits of such products and technology also identify forward-looking statements. Such statements are based on current expectations and involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, that governmental authorities may not approve the transactions; that the first or second closings of the transactions may not occur or may be delayed; that expected financial or other benefits of the transactions may not be realized; that litigation related to the transactions or limitations or restrictions imposed by regulatory authorities may delay, permanently restrain or negatively impact the transactions; that unanticipated transition costs may be incurred; that the transactions may not be supported by third parties; that the announcement and pendency of the transactions may adversely affect SK hynix’s, Intel’s or the purchased and sold division’s business relationships, operating results, or their business in general; that actions by competitors may negatively impact results; and that there may be negative changes in general economic or geopolitical conditions affecting the regions or the industries in which SK hynix and Intel operate; as well as the factors set forth in SK hynix’s earnings release dated July 23, 2020 and SK hynix’s most recent published business reports and Intel’s earnings release dated July 23, 2020, which is included as an exhibit to Intel’s Form 8-K furnished to the SEC on such date, and Intel’s SEC filings, including the company’s most recent reports on Forms 10-K and 10-Q. Copies of SK hynix’s earnings releases and business reports may be obtained by visiting SK hynix’s Investor Relations website at https://www.skhynix.com/eng/ir/irOverview.jsp. Copies of Intel’s Form 10-K, 10-Q and 8-K reports may be obtained by visiting Intel’s Investor Relations website at www.intel.com or the SEC’s website at www.sec.gov. Neither SK hynix nor Intel undertakes, and both SK hynix and Intel expressly disclaim any duty, to update any statement made in this press release, whether as a result of new information, new developments or otherwise, except to the extent that disclosure may be required by law.

Related Links :

https://www.skhynix.com

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
gbafNews28 gbafNews28
News1 hour ago

Finalist Teams Announced for 2020 Asia Super Team: Reach for the Stars

Teleperformance Philippines to compete for USD$50,000 prize package TAIPEI, Oct. 20, 2020 /PRNewswire/ — Asia Super Team is here again....

gbafNews28 gbafNews28
News1 hour ago

Hong Kong Blockchain Week 2020: Setting DeFi and Blockchain Trends for 2021

November 17th to 19th 2020, speakers and participants will assess the economic and technological rollercoaster of the year 2020,and will...

gbafNews28 gbafNews28
News1 hour ago

SK hynix to Acquire Intel NAND Memory Business

NEWS HIGHLIGHTS SK hynix will pay US $9 billion for the Intel NAND memory and storage business, which includes the...

gbafNews28 gbafNews28
News1 hour ago

Finalist Teams Announced for 2020 Asia Super Team: Reach for the Stars

Social Collider to compete for USD$50,000 prize package TAIPEI, Oct. 20, 2020 /PRNewswire/ — Asia Super Team is here again....

gbafNews28 gbafNews28
News1 hour ago

Open-sourced Blockchain Technologies Bring Back Cross-border Tours between Chinese Mainland and Macao

SHENZHEN, China, Oct. 20, 2020 /PRNewswire/ — From September 23 onwards, Chinese mainland resumed issuing visas for visitors to Macao....

gbafNews28 gbafNews28
News2 hours ago

Sisaran Group Co., Ltd. Honored at the Asia Responsible Enterprise Awards 2020

SINGAPORE- Media OutReach – 20 October 2020 – A total of 81 projects and business leaders across Asia were selected as recipients of the Asia...

gbafNews28 gbafNews28
News3 hours ago

Merchantrade in Technology Partnership with Ant Group to Offer Inclusive Remittance Services to Consumers in Asia

KUALA LUMPUR, Malaysia, Oct. 20, 2020 /PRNewswire/ — Malaysia’s largest Money Services Business (MSB) operator, Merchantrade Asia Sdn Bhd (Merchantrade)...

gbafNews28 gbafNews28
News3 hours ago

FICO Survey: Complexity and Cost of Validating Digital Banking Customers Top Pain Points for Lenders in the Philippines

50 percent of Philippine banks say processes are still too manual MANILA, Phillippines, Oct. 20, 2020 /PRNewswire/ — Highlights: The...

gbafNews28 gbafNews28
News3 hours ago

VisIC Technologies raises Series E to support growing EV market

The new financing round will allow the emerging GaN power electronics supplier to deliver high performing GaN products to growing...

gbafNews28 gbafNews28
News5 hours ago

eWAY Introduces Click to Pay with Visa and American Express to Improve Online Shopping

BRISBANE, Australia, Oct. 20, 2020 /PRNewswire/ — Leading ecommerce payments provider, eWAY, has become one of the first adopters of a...