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Munich Re – Weather disasters in USA dominate natural disaster losses in 2021

  • In 2021, natural disasters caused overall losses of US$ 280bn, of which roughly US$ 120bn were insured
  • Alongside 2005 and 2011, the year 2021 proved to be the second-costliest ever for the insurance sector (record year 2017: US$ 146bn, inflation-adjusted) –overall losses from natural disasters were the fourth-highest to date (record year 2011: US$ 355bn)
  • Hurricane Ida was the year’s costliest natural disaster, with overall losses of US$ 65bn (insured losses of US$ 36bn)
  • In Europe, flash floods after extreme rainfall caused losses of US$ 54bn (€46bn) – the costliest natural disaster on record in Germany
  • Many of the weather catastrophes fit in with the expected consequences of climate change, making greater loss preparedness and climate protection a matter of urgency

SINGAPORE – Media OutReach – 10 January 2022 – “The images of natural disasters in 2021 are disturbing. Climate research increasingly confirms that extreme weather has become more likely. Societies need to urgently adapt to increasing weather risks and make climate protection a priority. Insurers meet their responsibilities by covering a portion of the risks and losses. By applying risk-adequate premiums, they put a price on natural hazards, thereby encouraging carefully considered behaviour to limit the losses. At the same time, severe volcanic eruptions and earthquakes in 2021 showed that we should not overlook these categories of natural disasters either.”

 

Torsten Jeworrek, Member of the Board of Management


In figures: Natural disaster losses increased substantially

Worldwide, natural disasters caused substantially higher losses in 2021 than in the two previous years. Based on provisional data, storms, floods, wildfires and earthquakes destroyed assets worth US$ 280bn. Losses in the previous year amounted to US$ 210bn, while in 2019 they were US$ 166bn. Roughly US$ 120bn of losses were insured, which was also more than in the two previous years (2020: US$ 82bn, 2019: US$ 57bn). The insurance gap, in other words the uninsured portion, declined slightly due to a higher proportion of losses in the USA, but was still approximately 57%. Almost 10,000 people lost their lives in natural disasters in 2021, a death toll comparable with those of recent years.

 

Exceptionally high proportion of losses in USA

The USA accounted for a very high share of natural disaster losses in 2021 (roughly US$ 145bn), of which some US$ 85bn were insured. Both overall and insured losses were significantly higher than in the two previous years (Overall losses 2020: US$ 100bn, 2019: US$ 52bn; insured losses 2020: US$ 67bn, 2019: US$ 26bn). In detail:

–        Tornadoes
In December 2021, a series of severe storms across several states in the central and southeastern USA led to exceptionally high losses, especially for the month of December. Dozens of violent tornadoes with wind speeds of up to 310 km/h (190 mph) carved a trail of devastation across six states. Especially hard hit was the town of Mayfield, Kentucky, where a long-track, massive wedge-type EF4 tornado roared through the neighbourhood. Large parts of the town, including a candle factory, were completely destroyed. According to initial estimates, overall losses amount to around US$ 5.2bn, with projected insured losses of US$ 4bn. An estimated 90 people were killed.

–        Tropical storms: The Atlantic hurricane season
The costliest natural disaster in 2021 was Hurricane Ida, which made landfall on 29 August 90 km south of New Orleans as a major hurricane (Category 4, the second-most destructive), with wind speeds of around 240 km/h (150 mph). Tens of thousands of buildings were damaged or destroyed. The New Orleans levee system, which was strengthened following Hurricane Katrina in 2005, withstood the storm surges, thereby preventing much higher losses.

Hurricane Ida then tracked to the northeast, causing severe flooding, in particular in New Jersey and the New York City metropolitan area. Overall, Hurricane Ida caused losses of US$ 65bn, of which approximately US$ 36bn were insured (55%). A total of 114 people lost their lives.

Hard on the heels of the previous record-setting 30 named tropical storms in 2020, storm activity during the 2021 hurricane season was again significantly above the long-term average (14.3 for the period 1991 to 2020), with 21 named tropical storms.

–        Deep freeze
In February, an exceptional cold wave brought icy temperatures as far as the southern USA. A temperature of -8°C (17°F) was recorded in the southern Texas city of Houston. Although the state of Texas experiences a major freeze event about once a decade, the state’s energy, infrastructure and buildings are often inadequately prepared for such conditions. Millions of people were left without electricity. Overall, with losses of US$ 30bn (half of which were insured), the event was the year’s third-costliest natural disaster.

 

Europe: Extreme flash floods with record losses

In Europe, torrential rainfall in July 2021 triggered exceptionally severe floodings that caused devastating losses in local areas, particularly in western Germany. In the regions affected, the rainfall caused by the low-pressure system “Bernd” was the highest in over a hundred years. In tributaries, such as the River Ahr in the Rhineland-Palatinate, the deluge triggered flash floods that swept away countless buildings. There was also severe damage to infrastructure, such as railway lines, roads and bridges. More than 220 people were killed.

Overall losses came to €46bn (US$ 54bn), of which €33bn (US$ 40bn) was in Germany. The insured portion was relatively low because of uninsured infrastructure losses and the limited insurance density for flooding in Germany. €11bn (US$ 13bn) was insured, of which €8.2bn (US$ 9.7bn) was in Germany, according to figures provided by the Association of German Insurers. It is the costliest natural disaster in Germany and Europe to date.

 

What effect is climate change having?

Ernst Rauch, Chief Climate and Geo Scientist at Munich Re, and head of the Climate Solutions Unit, commented as follows on the figures:

“The 2021 disaster statistics are striking because some of the extreme weather events are of the kind that are likely to become more frequent or more severe as a result of climate change. Among these are severe storms in the USA, including in the winter half-year, or heavy rain followed by floods in Europe. For hurricanes, scientists anticipate that the proportion of severe storms and of storms with extreme rainfall will increase because of climate change. Even though events cannot automatically be attributed to climate change, analysis of the changes over decades provides plausible indications of a connection with the warming of the atmosphere and the oceans. Adapting to increasing risks due to climate change will be a challenge.”

 

Relatively low losses in Asia-Pacific region

In the Asia-Pacific region, losses remained modest. With overall economic losses of US$ 50bn, of which US$ 9bn were insured (insurance gap 83%), the region accounted for just 18% of overall losses and 7% of insured losses. The costliest natural disaster was a severe flood in Henan Province in central China, where countless rivers, including the Yellow River, burst their banks. Hundreds of thousands of homes were flooded. Overall losses came to some US$ 16.5bn, with only about 10% of these insured.

A 7.1-magnitude earthquake struck off the east coast of Japan on 13 February. The earthquake was not far from the epicentre of the Tohoku earthquake off Japan’s northeast coast, which ten years earlier had triggered a devastating tsunami that led to the Fukushima nuclear disaster. The latest earthquake caused substantial losses of US$ 7.7bn, with insured losses in the region of US$ 2.3bn (insurance gap: 70%).

Volcanic eruptions and earthquakes – an underestimated threat?

Along with the earthquakes in Japan, several violent volcanic eruptions following a number of more peaceful years underlined the threats from geophysical catastrophes. In September, the Cumbre Vieja volcano in the south of La Palma in the Canary Islands erupted. Giant streams of lava flowed all the way to the sea. Some 3,000 properties were buried under lava streams and layers of volcanic ash. It was not until 25 December that the authorities were able to officially declare the eruption over. Losses are in the region of €850m (US$ 1bn). Only a small portion of this is likely to be insured.

On the Indonesian island of Java, the Mount Semeru volcano erupted in December. The event produced what are known as pyroclastic flows consisting of hot ash and rock at temperatures of around 1,000°C, which is why such eruptions are far more dangerous than those with lava flows. More than 50 people were killed.

 

Even in industrialised countries, there is still a large insurance gap

On a global level, around 57% of losses from natural catastrophes in 2021 were not insured. Those affected must bear the financial losses themselves, or rely on aid. This insurance gap has declined over the last few decades in industrialised countries, whereas in poorer countries it remains unchanged at over 90%. 

In industrialised countries, the proportion of insured losses depends on the particular natural hazard concerned. For example, in the USA and Europe, insurance density is much lower for floods than for storms. Some infrastructure in the USA is insured, while this is seldom the case in Europe.

“Greater insurance density can help people and countries to better cope with the financial consequences of a disaster and help them return to a normal life. Developing concepts in partnership with governments (public-private partnerships) certainly makes sense,” explains Ernst Rauch.

About Munich Re

Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the asset management company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake through to the 2019 Pacific typhoon season. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies or cyberattacks. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals.

#MunichRe

Disclaimer

Munich Re’s NatCatSERVICE collects information from governmental agencies, scientific institutes, associations, the insurance industry, the media and other publicly available sources in order to analyse nat cat losses. NatCatSERVICE applies Munich Re’s comprehensive in-house nat cat expertise and market data from the worldwide insurance markets to its analyses.

Munich Re assumes no guarantees as to the accuracy of this data, which is collected as of specific dates and can also change at any time. The information may not be used as the basis for any decision without prior professional advice and careful contextual analysis. Munich Re is not liable for damages arising from any decisions that third parties may take on the basis of this information.

This media release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to make them conform to future events or developments.

The issuer is solely responsible for the content of this announcement.

“Metaverse Forum” Organizes by Wealthking Investments, Explores the Wave of Metaverse and Investment Opportunities

HONG KONG SAR – Media OutReach – 10 January 2022 – Wealthking Investments Limited (the “Company”; “Wealthking Investments”, together with its subsidiaries collectively known as the “Group”; Stock code: 1140.HK;), is pleased to announce the successful conclusion of “Metaverse Forum cum Mataverse New Books Release Online Conference” on pervious Sunday (Jan 9). The forum invited guests from industry giants to give delightful speeches and discussions, and conducted in-depth discussions on issues such as the constantly evolving real background and the future development trend of Metaverse, bringing new insights to the industry and seizing the new trend of industrial digitalization.

 

“Metaverse Forum cum Mataverse New Books Release Online Conference” is hosted by the Metaverse 30 Forum, organized by Wealthking Investments and Trenda Group, and co-organized by the Hong Kong Blockchain Association and The Commercial Press(HK). Metaverse has become one of the most popular keywords recently. Global technology enterprises have announced their entry into the world of Metaverse. For this reason, a number of important guests made the topics sharing online and on-site respectively, and conducted interactive sessions to explore the great wave of the Metaverse.

 

The lineup of guests for this forum was prosperous, including Dr. Liu Zhiwei, Chairman of Wealthking Investments, Tony Tong, Co-chairman & Co-Founder of the Hong Kong Blockchain Association and Director of GlobalSTOX Limited, Cheney Tsoi, President of Asia Blockchain Society, Joe Zhou, Head of Market Department of BC Technology Group Limited, Marco Lim, Managing Partner of MaiCapital, Chen Ping, Founding Partner of Ausvic Capital Limited, Xu Yuanzhong, Chairman of Da San Sheng Group and Founder of Metaverse 30 Forum, Yi Huanhuan, Vice President of The Union of Finance Alumni of Peking University and the author of the trilogy of Metaverse, Zhao guodong, the author of Metaverse and Secretary-general of the Zhongguancun Big Data Industry Alliance, Dr. Keer Golden from the Institute of Social Aesthetic Education of Tsinghua University, and Kelvin Yeung, Founder and CEO of HKD.com.

 

Dr. Liu Zhiwei, Chairman of Wealthking Investments opened a chapter for the forum, by sharing the theme of “Metaverse, Value Investing and Social Responsibility”. He shared the following: “Wealthking Investments is firmly optimistic about the digital economy and has established the digital economy as the Company’s major investment direction and has made a large layout. The Metaverse concept provides a lead for our predictions, providing a broader perspective and helping us further open up the imagination space. In our view, the development of the Metaverse is still at an early stage and it may be difficult to judge its development path and final form. However, we believe that the interactive interface will be more convenient, efficient and natural in the future; the interactive content will be 3D, real-time, and the connection between people will be strengthened.”

 

“Metaverse concept has incorporated all of our predictions to the next generation of the Internet. We believe that the direction is certain and the trend is inevitable. Therefore, we have a wholly-owned subsidiary, MetakiLimited, to focus on capturing investment opportunities in the field of metaspace. Our investment philosophy is simple, that is to firmly pursue value investment is to seek companies and entrepreneurs who have dreams, ability and technology to create value for the society.”

 

“The investment income we obtain and the wealth we create for our shareholders are essentially derived from the social value created by our portfolio companies. This determines the three characteristics of our investment: first, our selection criteria for investment targets are stringent and consistent, and we start from four aspects, namely people, technology, business and environment. Secondly, we are determined to be a long-termist. For enterprises that meet the selection criteria, we will stay with them after investing at a relatively reasonable price. Thirdly, we hope to be a good investor, which means that we hope the technology, resources and capabilities of the portfolio company to create value and benefit the society.”

 

“We firmly invest in technologies, enterprises and entrepreneurs which truly care about people, promote reality through virtuality, and can continuously create social value. This is our social responsibility as an investor, and is also highly consistent with our value investment philosophy and our pursuit of maximizing shareholders’ interests.” He concluded.

 

Xu Yuanzhong, Chairman of Da San Sheng Group and founder of Metaverse 30 Forum, gave a speech on behalf of the organizer, saying that Metaverse will promote global technology and economic development, and different fields will continue to derive and explore potential value under the Metaverse. In the future, compared with the current physical economy, the new economy of the metaverse will grow dozens of times, and has great potential for development.

 

Yi Huanhuan, Vice President of The Union of Finance Alumni of Peking University and the author of the trilogy of Metaverse, to give theme sharing of “Metaverse Investment”. He shared his insights into the development of Metaverse and was determined to publish the trilogy of Metaverse. He believes that the large and deep nature of the Metaverse changes the working environment, education, medical care and health, and will promote globalization. Everyone cannot imagine Metaverse will bring us a new trend of co-existence and a wonderful new world to everyone after 10-15 years.

 

Zhao Guodong, The author of Metaverse and Secretary-general of Zhongguancun Big Data Industry Alliance, shared the theme of “Interpretation of Big Wave Trend of Metaverse”. He thought Metaverse is a comprehensive development. Its technological development can carry out cross-sector cooperation with different industries, including technology, culture, art, and consumption to achieve continuous coexistence for humans, virtual society and creating economy, and provide a new development path.

 

Tony Tong, Co-chairman of the Hong Kong Blockchain Association and Director of GlobalSTOX Limited, shared the theme of “GamiFi, NFT, Metaverse” which stated that with the introduction of a series of new blockchain policies and controls by the state. Hong Kong has also fully leveraged the advantages of “One Country and Two Systems” to issue licenses to regulate virtual assets, which in turn helps more Hong Kong companies to transform into the Metaverse market, and continues to be well-positioned to promote the development of technology and blockchain in Hong Kong.

 

Cheney Tsoi, President of Asia Blockchain Society, gave theme sharing of “Open the Door to the Wealth of Metaverse”. He believes that the Metaverse is the future trend and development direction. We can continue to obtain data assets and wealth in the Metaverse through continuous learning, participation and creation. The Metaverse, blockchain, new digital currency and digital economy are incremental markets in the future, and actively accelerating participation is a way to open up the door of wealth.

 

Dr. Keer Golden from the Institute of Social Aesthetic Education of Tsinghua University, shared the theme of “The Self and Transcendence in the Art of the Metaverse Era”. He showed that the metaverse is a deep integration of art, technology and finance by sharing multiple works of art , while breaking the constraints of time and space. Although the Metaverse is still at the exploration stage, it will be able to build a more diversified, multi-media and digital society through Metaverse in the future.

 

Joe Zhou, Head of Market Department of BC Technology Group Limited, to give theme sharing of “How Does the Exchange Play its Role and Function under Metaverse”, shared that the Group’s OSL Digital Exchange is preparing to convert financial products including funds, bonds and other products into security tokens (STO). Traditional investors are expected to have a better understanding of virtual asset investment and conduct in-depth research.

 

Marco Lim, Managing Partner of MaiCapital shared the theme of “The Unlimited Business Opportunities of the Metaverse”. He is of the view that the virtual world created by Metaverse is not only entertainment, but also a complete ecosystem integrating payment, consumption, education and other real-life scenarios. The business opportunity behind the circular is huge, which can turn into economic benefits and lead the new market development through new technologies and business models.

 

Kelvin Yeung, Founder and CEO of HKD.com shared the topic of ” HKD.com’s Developing Metaverse Projects”, as one of the industry representatives for the development of blockchain, and he hopes that the conceptualisation can be led to practical application gradually.

 

Last but not least, all guests expressed their views at the interactive session to make a satisfactory conclusion of the forum. Dr. Liu Zhiwei commented: “Wealthking Investments also will continue to keep abreast of the development of Metaverse and changes in the market, and actively explored and invested in high-quality enterprises related to upstream and downstream of the Metaverse market, so as to facilitate the sustainable development of the industry.”

 

Dr. Liu Zhiwei concluded: “This Metaverse forum achieved a complete success. The strong support from all industry guests to give valuable speeches made the forum a great difference. As one of the most popular concepts this year, Metaverse will affect all aspects of the economy. Wealthking Investments will accelerate its layout in the Metaverse field, actively promote the development and application of new technologies such as 5G, cloud computing, AI and blockchain involved in the Metaverse industry, facilitate the transformation and upgrading of relevant technology industries, incubate a number of innovative technology enterprises, contribute to the development of the Metaverse industry, and create more value for the society.”

 

About Wealthking Investments Limited (Stock code: 1140.HK)

Wealthking Investments Limited(1140.HK) is a cross-border crossover investment platform listed on the Main Board of the Hong Kong Stock Exchange. Its investment portfolio covers listed and unlisted companies in various fields, with strong investment and financing and industry integration capabilities. Based on different holding cycles and strategies, Wealthking Investments takes private equity, investment portfolio management and trading and other core holdings as its investment strategies, and flexibly builds a multi-cycle investment portfolio to create diversified and stable investment returns for shareholders.

Disclaimer

This document is solely for information purposes and is not intended as an offer, a solicitation of offer or a recommendation, to deal in shares of securities, futures, options or any financial instruments. Investment involves risk. Past performance and the predictions, projections, or forecasts on the economy, securities markets or the economic trends of the markets are not necessarily indicative of the future or likely performance of Wealthking Investments or any product and service of Wealthking Investments. Information herein is believed to be reliable at the time of publication but Wealthking Investments do not warrant its completeness or accuracy and is not responsible for any error of facts or opinion nor shall be liable for damages arising out of any person’s reliance upon this information. Any opinion or estimate contained in this document may be subject to change without notice.


#WealthkingInvestments

The issuer is solely responsible for the content of this announcement.

EML Payments Ltd. chooses Netcetera for new Access Control Server (ACS)

ZURICH, SWITZERLAND and SINGAPORE – EQS Newswire – 10 January 2022 – Headquartered in Australia and with operations in more than 27 countries, EML Payments Ltd (EML) provides an innovative global payment solutions platform, with years of experience in delivering secure payment solutions. Wherever money is in motion, their agile technology can power the payment process, so money can be moved quickly, conveniently, and securely. They work in partnership with their customers wherever they are, to deliver better outcomes for them. EML has just partnered with Netcetera, to implement their state-of-the-art Access Control Server (ACS) including a Risk Based Authentication (RBA) solution. Netcetera’s globally certified 3DS product is a perfect match for EML, ensuring secure online payments across all card networks and reducing the risk of fraudulent transactions.

Since early 2021, EML were on the lookout for a reliable ACS provider to authenticate a high number of online transactions and protect customers against fraud. Through warm recommendations from payment scheme contacts, they were referred to Netcetera. The multinational software dynamo with roots in Switzerland has developed the 3DS Issuer Service with pre-integrated risk scoring from INFORM. The Netcetera ACS is based on a modular system, has an integrated Out of Band (OOB) authentication method, a comprehensive reporting engine, extensive, customizable features, modern and user-friendly administration portal, and standardized web services & API’s enabling faster onboarding, which was just what EML was looking for.

 

As an EMVCo associate and market leader for secure payments with 3-D Secure products that are certified with all major card networks, Netcetera operates a PCI DSS- & PCI 3DS-certified system, complying with the highest security standards. Netcetera was an obvious choice for EML. Over 30 million cards worldwide are protected by their 3-D Secure Issuing Service, which allows frictionless online payment while authenticating transactions securely across all channels and devices, thus preventing online fraud. With over 20 years of serving customers all over the globe, Netcetera has combined experience with innovation and staying ahead of the curve.

 

Both companies are thrilled about the new collaboration, with EML’s Group Fraud Manager, Patrick O’Shaughnessy, commenting “I am very pleased to welcome Netcetera as our ACS+RBA provider. Netcetera’s product guarantees payment security and has added a highly effective card-not-present authentication solution to our offer.” Head of APAC Sales & Partnerships, Nitin Palande says “As an independent technology provider, we pride ourselves on offering the best new solutions on the market. We think about how the latest technology can support card issuers and banks’ needs and requirements in a fast-changing market”.

 

Additional features:
File: Media release Netcetera EML

About Netcetera

Netcetera is a global software company with cutting-edge IT products and individual digital solutions in the areas of secure digital payment, financial technologies, media, transport, healthcare and insurance. More than 2,000 banks and issuers, and 150,000 merchants rely on the digital payment solutions and globally certified 3-D Secure products of the market leader for payment security. The owner-managed company covers the entire IT lifecycle, from ideation and strategy to implementation and operation. The balanced combination of the latest technologies and proven standards ensures investment security, from large-scale projects to innovative start-ups. Founded in 1996, Netcetera is a holding company with around 800 employees and is headquartered in Zurich, Switzerland, with additional locations across Europe, Asia, and the Middle East.

Further information: netcetera.com

#Netcetera

The issuer is solely responsible for the content of this announcement.

Laos Confirms 641 New Cases of Covid-19 with 11 New Deaths

Xaysomboun Covid-19 Update

Laos has recorded 641 cases of Covid-19 across the country today, with eleven new deaths.

Lenovo technology predictions for 2022: hybrid, sustainable, personal

HONG KONG SAR – Media OutReach – 10 January 2022 – The past year was a time of transition – but which of the new approaches will take hold in Asia Pacific markets? For 2022 and beyond, Lenovo is offering a range of predictions that incorporate what has been learned in the past year, to improve future products and services.

 

Intensely hybrid working models, a focus on carbon neutrality and the environment, and a need for more comfortable, intuitive ways to operate our technology all set the tone for the following emerging trends.

 

1.     Work-from-anywhere technology, now broadly available, will expose a growing divide.

 

Just as the use of video conference software accelerated during the past year’s work-from-home, successful companies in Asia Pacific will accelerate the adoption of improved infrastructure and services that enable smarter, more flexible work.

 

Important innovations that will make this happen include upgrades in artificial intelligence, which is getting better at removing the daily background noise of an Asian city, improving privacy, and connecting seamlessly. Augmented reality will also have a role to play, by concentrating information intelligently and conveniently for the user. Remote desktop solutions, especially those that unite employees under cloud-like services with enterprise-level security, enable employees’ work while providing them necessary IT support wherever they are.

 

Other companies, held back by legacy systems, will resist these changes in the hope of going back to “the way it was” – and will find it more and more difficult to foster an engaged employee workplace – especially given Asia’s younger, more diverse workforce.

 

2.     Sustainability will become a leading factor in tech innovation and design.

 

2021 was the year that Asia Pacific got serious about sustainability. In 2021 October, Hong Kong Government announced Hong Kong’s Climate Action Plan 2050, outlining the strategies and targets for combating climate change and achieving carbon neutrality in 2050[1]. In the past, sustainability was a second-tier consideration in design and innovation for technology products, if it was considered at all; now, it will play a leading role.

 

Sustainable materials will experience a jump in popularity in manufacturing locations around the region, and become more available for product development. The products that find success in the future will incorporate recycled plastics, fibers and metals; self-decomposing materials like bioplastics; and renewable sources like bamboo – where Asia has an obvious advantage.

 

At the same time, societal considerations will grow in importance, including the accessibility and suitability of technology for a broad range of users.

 

3.     Security will finally start to move away from over-reliance on passwords.

 

AI and improved sensor technology will move to the forefront, as passwords take a backseat. Near-term, public key infrastructure (PKI) – what we use today to access our mobile banking applications – and multifactor authentication (MFA) will alleviate our reliance on passwords.

 

The sensors that power biometrics – fingerprint, facial, iris and voice authentication – will start to take on greater responsibility for our security online and with our devices during the coming year. This will play an additional role in making technology more accessible and with multiple levels of literacy.

 

4.     Computers will quietly, and steadily, become more human.

 

Humans are not designed for long hours sitting in front of screens and typing on keyboards – but today, many people spend the majority of their waking hours interacting with technology. New designs will help slowly transition that relationship towards designs that work with – not against – human physiology.

 

In 2022 and beyond, instead of a focus on keyboards and touchpads, expect to see more flexible display options, ergonomic mice, haptic feedback, voice-to-text (and vice versa), and more intuitive forms of input involving artificial intelligence.

 

The past year has signaled a major shift in the way that we use technology in our daily lives. While we can look forward to these changes in the coming year, we can also see them as the beginning of a more gradual shift that will take place beyond 2022. Where will the following year take us?

About Lenovo

Lenovo (HKSE: 992) (ADR: LNVGY) is a US$60 billion revenue Fortune Global 500 company serving customers in 180 markets around the world. Focused on a bold vision to deliver smarter technology for all, we are developing world-changing technologies that power (through devices and infrastructure) and empower (through solutions, services and software) millions of customers every day and together create a more inclusive, trustworthy and sustainable digital society for everyone, everywhere. To find out more visit https://www.lenovo.com and https://techtoday.lenovo.com/hk/en/solution to read about the latest news via our StoryHub.

#Lenovo

The issuer is solely responsible for the content of this announcement.

Xlife Sciences plans listing on the “Sparks” segment of SIX Swiss Exchange

Listing on the new “Sparks” segment of SIX Swiss Exchange for small and medium-sized companies is planned for Q1 2022, subject to market environment


– Xlife Sciences AG is a Swiss company focused on the value development and commercialization of promising research projects from universities and other research institutions in the field of life sciences


– The company is involved as incubator and accelerator in in 23 project companies until the successful exit after the proof-of-concept phase with the goal of participating in their
long-term value development


– Xlife Sciences is currently listed on the Munich Stock Exchange and has a market capitalization of EUR 233 million as per end of 2021.

ZURICH, SWITZERLAND – EQS Newswire – 10 January 2022 – Xlife Sciences AG (XLS DE) confirms its intention to be listed on SIX Swiss Exchange, as communicated in November 2021. Subject to market environment, the listing on the new “Sparks” segment of SIX Swiss Exchange is still planned for Q1 2022.

Dr. Bernhard Scholz, Chairman of the Board of Xlife Sciences, comments: “Switzerland has a strong and dynamic life sciences industry and correspondingly knowledgeable investors and analysts. The new Sparks segment of the Swiss stock exchange is attractive for Xlife Sciences as an emerging growth company and should further increase our visibility and market transparency.”

Oliver R. Baumann, CEO of Xlife Sciences, added: “With the planned listing in Switzerland and the accompanying move to a regulated market, we aim to make our company more accessible to institutional investors, increase the liquidity of the stock and further enhance the transparency of Xlife Sciences.”

The Company
Xlife Sciences is a Swiss company focused on the value development and commercialization of promising research projects from universities and other research institutions in the field of life sciences. The goal is to bridge the gap from research and development to healthcare markets.

Xlife Sciences brings carefully selected early-stage projects in the four areas of technological platforms, biotechnology/therapies, medical technology, and artificial intelligence/digital health to the next stage of development. The focus is on preclinical projects in biotechnology that are acquired with a successful spin-off by a university, a clinical center, or a research institution. Currently, eleven employees and eight consultants work for Xlife Sciences AG; across all project companies, there are more than 120 scientific employees, researchers, and project managers in total.

The team of Xlife Sciences has proven experience in the life sciences sector thanks to the many years of expertise in successful partnering of the company founders and the scientific advisory board. In addition to Chairman Dr. Bernhard Scholz, the Board of Directors comprises Christian Faber, Prof. Dr. habil. Michael B. Klein, Mark S. Müller, and Simon Schöni. The Management Team consists of CEO Oliver R. Baumann (also member of the Board of Directors), CFO Carl von Halem, Chief Scientific Officer (CSO) Frank Plöger, and Beat Kläui as Head of Accounting & Taxation.

The Value Chain
Xlife Sciences generally focuses its involvement in a project on the early phase, i.e., until completion of the so-called “proof-of-concept” phase, and subsequently strives to commercialize the project company, e.g., through a sale of the company or individual product candidates (“trade sale”), through out-licensing of products or patents, or through an IPO of the project company. This strategy enables Xlife Sciences to realize an increase in value already after the proof-of-concept phase. Potential future growth opportunities are also captured with possible milestone payments and royalties in the later market phase.

The Project Companies
Xlife Sciences cooperates with 15 prominent universities and research institutes from Germany and Switzerland, and reviews invention disclosures and project ideas in a thorough and structured three-step due-diligence process. If Xlife Sciences decides to take over the invention disclosure, usually a separate project company is founded for this purpose and prepared for the possible exit after a successful proof-of-concept phase (2-3 years). In addition, these companies are supported in positioning, structuring, and implementing their concepts, for example by providing management services. Furthermore, Xlife Sciences aims to create and exploit synergies between the project companies.

Currently, the portfolio of Xlife Sciences comprises 23 project companies. Five project companies are based in Switzerland, the others mostly in Germany. According to the current assessment of the Management Team, the project companies Veraxa Biotech, Laxxon Medical, Lysatpharma, Quadira Biosciences, Saniva, Vitruvia, Synimmune, Ix Therapeutics, and Baliopharm are among the short- and medium-term growth drivers of Xlife Sciences. These growth drivers can be, for example, an exit, the completion of the preclinical development phase, further commitments of federal funds or even the first-time revenue generation.

Planned listing on SIX Swiss Exchange
Currently, the company is admitted to trading on the Munich Stock Exchange (unregulated market [“Freiverkehr”] in the segment m:access) with a market capitalization of EUR 233 million as of the end of 2021. Concurrently with the listing on SIX Swiss Exchange on the new “Sparks” segment, trading of the shares of Xlife Sciences AG on the Munich Stock Exchange shall be ceased for regulatory reasons. The shares will be tradeable on SIX Swiss Exchange after the switch to SIX Swiss Exchange.

Following the intended listing on SIX Swiss Exchange, the proportion of freely tradable shares (“free float”) is expected remain at approximately 44%, the current quota on the Munich Stock Exchange. The majority of the shares will continue to be held by the two founders as well as the members of the Board of Directors and management team.

Since October 1, 2021, fast-growing, small and medium-sized enterprises (SMEs) have been able to list on the “Sparks” segment of SIX Swiss Exchange. This is a regulated trading segment tailored to the requirements of SMEs and their investors. Among other things, the segment provides for easier access for younger companies and a condensed trading window. Apart from that, SMEs are subject to the same prospectus requirements, the same regulatory oversight and the same reporting requirements as companies traded on the main segment of SIX Swiss Exchange.

About Xlife Sciences AG

Xlife Sciences is a Swiss company focused as incubator and accelerator on the value development and commercialization of promising research projects from universities and other research institutions in the life sciences sector, with the aim of providing solutions for high unmet medical needs and a better quality of life. The goal is to bridge research and development to healthcare markets. Xlife Sciences takes carefully selected projects in the four areas of technological platforms, biotechnology/ therapies, medical technology, and artificial intelligence/digital health to the next stage of development, and participates in their subsequent performance. For more information, visit www.xlifesciences.ch

Disclaimer
This press release may contain ‘forward-looking statements’, such as guidance, expectations, plans, intentions, or strategies regarding the future. These forward-looking statements are subject to risks and uncertainties. The reader is cautioned that actual future results may differ from those expressed in or implied by the statements, which constitute projections of possible developments. The company does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.

THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS FOR BACKGROUND PURPOSES ONLY AND DOES NOT PURPORT TO BE FULL OR COMPLETE. NO RELIANCE MAY BE PLACED BY ANY PERSON FOR ANY PURPOSE ON THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT OR ITS ACCURACY, FAIRNESS OR COMPLETENESS.

THIS INFORMATION DOES NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SHARES OR OTHER SECURITIES IN THE COMPANY TO ANY PERSON IN THE UNITED STATES OR IN ANY JURISDICTION TO WHOM OR IN WHICH SUCH OFFER OR SOLICITATION IS UNLAWFUL. IT IS NOT BEING ISSUED IN COUNTRIES WHERE THE PUBLIC DISSEMINATION OF THE INFORMATION CONTAINED HEREIN MAY BE RESTRICTED OR PROHIBITED BY LAW. THE DISTRIBUTION OF THIS ANNOUNCEMENT MAY BE RESTRICTED BY LAW IN CERTAIN JURISDICTIONS AND PERSONS INTO WHOSE POSSESSION ANY DOCUMENT OR OTHER INFORMATION REFERRED TO HEREIN COMES SHOULD INFORM THEMSELVES ABOUT AND OBSERVE SUCH RESTRICTION. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF ANY SUCH JURISDICTION. SECURITIES OF THE COMPANY ARE NOT BEING PUBLICLY OFFERED. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF THE UNITED STATES,

THIS DOCUMENT IS NOT INTENDED TO CONSTITUTE AN OFFER OR SOLICITATION TO PURCHASE OR INVEST IN THE SECURITIES. THE SECURITIES MAY NOT BE PUBLICLY OFFERED, DIRECTLY OR INDIRECTLY, IN SWITZERLAND WITHIN THE MEANING OF THE SWISS FINANCIAL SERVICES ACT (FINSA). NEITHER THIS DOCUMENT NOR ANY OTHER MARKETING MATERIAL RELATING TO THE SECURITIES CONSTITUTES A PROSPECTUS PURSUANT TO THE FINSA OR ANY APPLICABLE LAWS OR REGULATIONS.

#XlifeSciencesAG

The issuer is solely responsible for the content of this announcement.

AXA launches “FortuneXtra Savings Plan” 9 policy currency options with most flexibility in currency conversion and market-first dual currency accounts

Up to 20% premium refund upon successful application

HONG KONG & MACAU – Media OutReach – 10 January 2022 – AXA Hong Kong and Macau (AXA) today announced the launch of “FortuneXtra Savings Plan (“FortuneXtra”)  to help customers seize currency potentials and accelerate wealth building with exceptional flexibility to suit changing trends and needs.


Kevin Chor, Chief Life and Health Insurance Officer, AXA Hong Kong and Macau, said, “In September 2021, Hong Kong recorded a 6-year record high for non-US Dollar foreign currency deposits, equivalent to over HKD 2 trillions. In particular, RMB customer deposits increased by more than 25% YoY1. We observed a huge market demand for foreign currencies which is subsequently validated by the survey2 jointly conducted by AXA and an independent research agency in November 2021.

 

70% of the respondents currently possess foreign currency savings or investment, among which, insurance products come as the third most common investment vehicle after bank deposits and stocks. In terms of favoured currencies, Euro is one of their top choices other than USD and RMB. Many people are looking for flexible saving vehicles with good returns to help them fulfil their changing needs in different life stages, such as wealth accumulation, preparation for an education fund, legacy planning, overseas property investments and retirement planning. These survey findings inspired us to launch FortuneXtra which provides exceptional potential return and unmatched flexibility to meet the market needs, underscoring AXA’s commitment to be a life-long partner to our customers.”

 

Four notable features of FortuneXtra include:

1)       Meeting global citizen lifestyle and maximising wealth accumulation advantage with market-highest policy currency options3, including market-unique Euro

FortuneXtra provides a choice of up to 9 policy currency options, offering the most options in the market3, including Renminbi (RMB), United States Dollar (USD), British Pound (GBP), Euro (EUR), Canadian Dollar (CAD), Australian Dollar (AUD), Singapore Dollar (SGD), Hong Kong Dollar (HKD) and Macau Pataca (MOP; only for policies issued in Macau), each offering competitive potential return. Among the currencies, Euro is uniquely available in FortuneXtra3, promptly responding to the emerging market needs.

 

2)      Exceptional flexibility to meet changing needs with free currency conversion in whole or in part

FortuneXtra (both 5-year pay and 10-year pay) offers unlimited number of times4 of full or partial policy currency conversion for free from the 3rd policy anniversary. Whether due to changes in life plan or shifts in global market opportunities, our customers can convert their policy to one of a different policy currency, in whole or in part, while keeping the same policy commencement date to ensure their wealth accumulation remains on track after the conversion. In particular, partial conversion is unique in market3 and can help customers flexibly deal with different foreign currency needs at the same time.

 

3)      Market-first3 dual currency accounts to capture gains and accumulate interest

Unlike conventional savings insurance plans, FortuneXtra offers the opportunity to save in up to two currencies under the same policy. Starting from the 10th policy anniversary, customers can flexibly lock the policy value to capture market upside, turning non-guaranteed values into guaranteed. After that, dual currency accounts allow customers to earn competitive interests in policy currency or one of the other 8 available currencies as selected and make flexible withdrawals any time as they wish.

4)      Grow generations of wealth and pass on legacy with change of the insured an unlimited number of times and foreign currency needs catered

While FortuneXtra is extremely flexible, it is also great for legacy planning. Customers can change the insured of the policy for an unlimited number of times, enabling them to share their legacy with the generations to come. What’s more, inheritance solution coupled with the currency conversion capability can fully cater for the currency needs of the next generations and further enhance the flexibility of legacy planning.

 

From now until 9 February 2022, customers can enjoy up to 20% premium refund if they successfully apply for FortuneXtra.

 

For more information on FortuneXtra, please visit https://www.axa.com.hk/en/fortune-xtra-savings-plan.  

 

The above information is for reference only. For details on premium refund and product features, content, terms and exclusions, please refer to the product brochure, policy provision and promotional leaflet.



[1] Source: HKMA Monthly Statistical Bulletin (Sep 2021)

[2] The survey was conducted in Hong Kong in November 2021, with a total of 1,017 respondents who are aged 18 or above. Figures are weighed in relation to online population in Hong Kong.

[3] This is based on a comparison among participating savings plans with reversionary bonus available for new business provided by insurers which are covered in the Provisional Statistics on Hong Kong Long Term Insurance Business for January to June 2021 (in respect of life & annuity (non-linked (Class A)) individual business (direct new business)) published by the Insurance Authority. The comparison was made with reference to the information on the company website of the relevant insurers and other information available to AXA as of November 2021.

[4] Starting from the 3rd policy anniversary, one application for conversion can be made within one Policy Year; and application must be submitted within 30 days from each Policy Anniversary.

About AXA Hong Kong and Macau

AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 54 markets and serving 105 million customers worldwide. Our purpose is to act for human progress by protecting what matters.

As one of the most diversified insurers offering integrated solutions across Life, Health and General Insurance, our goal is to be the insurance and holistic wellness partner to the individuals, businesses and community we serve.

At the core of our service commitment is continuous product innovation and customer experience enrichment, which is achieved through actively listening to our customers and leveraging technology and digital transformation.

We embrace our responsibility to be a force for good to create shared value for our community. We are proud to be the first insurer in Hong Kong and Macau to address the important need of mental health through different products and services. For example, the Mind Charger function on our holistic wellness platform “AXA BetterMe”, which is available via our mobile app Emma by AXA, is open to not just our customers, but the community at large. We will continue to foster social progress through our product offerings and community investment to support the sustainable development of Hong Kong and Macau.

THIS PRESS RELEASE IS AVAILABLE ON AXA’S WEBSITE: AXA.COM.HK


IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause AXA’s actual results to differ materially from those expressed or implied in the forward-looking statements. Please refer to Part 4 – “Risk factors and risk management” of AXA’s Universal Registration Document for the year ended December 31, 2019, for a description of certain important factors, risks and uncertainties that may affect AXA’s business, and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as part of applicable regulatory or legal obligations.

#AXA

The issuer is solely responsible for the content of this announcement.

BAD AND CRAZY, Starring Spackman Media Group Artist Wi Ha-Jun Of SQUID GAME, Takes The Top Spot In Viewership Ratings

  • BAD AND CRAZY, headlined by Spackman Media Group artist Wi Ha-jun of Netflix’s top show ever, SQUID GAME, leads in viewership ratings last weekend
  • Distributed by tvN and iQIYI, BAD AND CRAZY airs every Friday and Saturday at 22:40
  • Represented by MSteam, a wholly-owned subsidiary of Spackman Media Group, Wi Ha-jun also starred in MIDNIGHT, which received the Best Feature Award at the 13th UK Grimmfest Film Festival

SINGAPORE – Media OutReach – 10 January 2022 – Spackman Entertainment Group Limited (the “Group“), one of Korea’s leading entertainment production groups, wishes to announce that K-drama BAD AND CRAZY starring Wi Ha-jun of MSteam Entertainment Co., Ltd. (“MSteam“), a wholly-owned subsidiary of the Group’s associated company, Spackman Media Group Limited (“Spackman Media Group“), ranked first place in viewership ratings for the same time period last weekend. The 8th episode of BAD AND CRAZY, which was screened last Friday and Saturday, recorded an average rating of 3.5% and a highest rating of 4.8% nationwide.

BAD AND CRAZY is directed by Yoo Seon-dong, produced by Studio Dragon and Mink Enertainment, and distributed by tvN and iQIYI.  The mystery drama airs every Friday and Saturday at 22:40. It relates the story of detectives with different personalities solving various cases.

Represented by MSteam, a wholly-owned subsidiary of Spackman Media Group, Wi Ha-jun stars alongside Lee Dong-wook of TOUCH YOUR HEART (2019), HELL IS OTHER PEOPLE (2019) and TALE OF THE NINE TAILED (2020).

Wi Ha-jun also headlined in Korean crime thriller film MIDNIGHT (2021), which received the Best Feature Award at the 13th UK Grimmfest Film Festival.

Previously, Wi Ha-jun starred in the original Korean series, SQUID GAME, the #1 show across over 90 countries including the US and Korea on Netflix. Through his role as Hwang Jun-ho, a policeman in SQUID GAME, Wi Ha-jun has emerged as an internationally recognized actor.

Other than Wi Ha-jun, MSteam also represents iconic Korean actress Son Ye-jin, who starred in hit romance drama CRASH LANDING ON YOU (2020), and top actress Lee Min-jung, who won the Top Excellence Award at the 2020 APAN Star Awards.

About Spackman Entertainment Group Limited

Spackman Entertainment Group Limited (“SEGL” or the “Company“), and together with its subsidiaries, (the “Group“), founded in 2011 by Charles Spackman, is one of Korea’s leading entertainment production groups. SEGL is primarily engaged in the independent development, production, presentation, and financing of theatrical motion pictures in Korea. According to Variety, Korea was the world’s fourth largest box office market in 2019, behind only North America, China and Japan.

Since incorporation in 2011, SEGL had produced more than 30 films including a number of highest grossing and award-winning films in Korea, namely #ALIVE (2020), CRAZY ROMANCE (2019), DEFAULT (2018), MASTER (2016), THE PRIESTS (2015), SNOWPIERCER (2013), COLD EYES (2013) and ALL ABOUT MY WIFE (2012).

The Group also invests into and produces Korean television dramas. In addition to our content business, we also own equity stakes in entertainment-related companies and film funds that can financially and strategically complement our existing core operations. SEGL is listed on the Catalist of the Singapore Exchange Securities Trading Limited under the ticker 40E.

Production Labels

SEGL owns Novus Mediacorp Co., Ltd. (“Novus Mediacorp“), an investor, presenter, and/or post-theatrical distributor for a total of 79 films (58 Korean and 21 foreign) including ROSE OF BETRAYAL, THE OUTLAWS and SECRETLY, GREATLY, which was one of the biggest box office hits of 2013 starring Kim Soo-hyun of MY LOVE FROM THE STARS, as well as FRIEND 2: THE GREAT LEGACY. In 2012, Novus Mediacorp was also the post-theatrical rights distributor of ALL ABOUT MY WIFE, a top-grossing romantic comedy produced by Zip Cinema. In 2018, THE OUTLAWS, co-presented by Novus Mediacorp broke the all-time highest Video On Demand (“VOD“) sales records in Korea. For more information on Novus Mediacorp, do visit http://novusmediacorp.com.

The Company owns a 100% equity interest in Simplex Films Limited (“Simplex Films“) which is an early stage film production firm. The maiden film of Simplex Films, JESTERS: THE GAME CHANGERS (2019), was released in Korea on 21 August 2019. Simplex Films has several line-up of films including HURRICANE BROTHERS (working title).

The Company owns a 100% equity interest in Take Pictures Pte. Ltd. (“Take Pictures“) which produced STONE SKIPPING (2020) and THE BOX (2021), and shall release GUARDIAN (working title) in 2021 tentatively.

The Company owns a 100% equity interest in Greenlight Content Limited (“Greenlight Content“) which is mainly involved in the business of investing into dramas and movies, as well as providing consulting services for the production of Korean content. Through the acquisition of Greenlight Content, the Group’s first co-produced drama, MY SECRET TERRIUS, starring top Korean star, So Ji Sub, achieved #1 in drama viewership ratings for its time slot and recorded double digits for its highest viewership ratings. Greenlight Content was one of the main investors of MY SECRET TERRIUS.

The Company owns a 20% equity interest in The Makers Studio Co. Ltd., which plans to produce and release four upcoming films, the first of which will be THE ISLAND OF THE GHOST’S WAIL, a comedy horror film.

Our films are theatrically distributed and released in Korea and overseas markets, as well as for subsequent post-theatrical worldwide release in other forms of media, including online streaming, cable TV, broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. We release all of our motion pictures into wide-theatrical exhibition initially in Korea, and then in overseas and ancillary markets.

Talent Representation

The Company holds an effective shareholding interest of 43.88% in Spackman Media Group Limited (“SMGL“). SMGL, a company incorporated in Hong Kong, together with its subsidiaries, is collectively one of the largest entertainment talent agencies in Korea in terms of the number of artists under management, including some of the top names in the Korean entertainment industry. SMGL operates its talent management business through renowned agencies such as MSteam Entertainment Co., Ltd. (Son Ye-jin, Lee Min-jung, Ko Sung-hee), UAA&CO Inc. (Song Hye-kyo, Yoo Ah-in, Park Hyung-sik), Fiftyone K Inc. (So Ji Sub, Ok Taec-yeon), SBD Entertainment Inc. (Son Suk-ku), and Kook Entertainment Co., Ltd. Through these full-service talent agencies in Korea, SMGL represents and guides the professional careers of a leading roster of award-winning actors/actresses in the practice areas of motion pictures, television, commercial endorsements, and branded entertainment. SMGL leverages its unparalleled portfolio of artists as a platform to develop, produce, finance and own the highest quality of entertainment content projects, including theatrical motion pictures, variety shows and TV dramas. This platform also creates and derives opportunities for SMGL to make strategic investments in development stage businesses that can collaborate with SMGL artists. SMGL is an associated company of the Company.

The Company owns a 100% equity interest in Constellation Agency Pte. Ltd. (“Constellation Agency“). Constellation Agency, which owns The P Factory Co., Ltd. (“The P Factory“) and Platform Media Group Co., Ltd. (“PMG“), is primarily involved in the business of overseas agency for Korean artists venturing into the overseas market. The P Factory is an innovative marketing solutions provider specializing in event and branded content production. PMG is a talent management agency which represents and manages the careers of major artists in film, television, commercial endorsements and branded entertainment.

Strategic Businesses

The Company owns a 100% equity interest in Frame Pictures Co., Ltd. (“Frame Pictures“). Frame Pictures is a leader in the movie/drama equipment leasing business in Korea. Established in 2014, Frame Pictures has worked with over 25 top

directors and provided the camera and lighting equipment some of Korea’s most notable drama and movie projects including ITAEWON CLASS (2020), HOW TO BUY A FRIEND (2020), KIM JI-YOUNG, BORN 1982 (2019), FOUR MEN (2019) and ASADAL CHRONICLES (2019).

We also operate a café-lounge called Upper West, in the Gangnam district of Seoul and own a professional photography studio, noon pictures Co., Ltd.

For more details, do visit http://www.spackmanentertainmentgroup.com/