By KIM TONG-HYUNG
SEOUL:Billionaire Samsung scion Lee Jae-yong was sent back to prison on Monday after a South Korean court handed him a two and a half-year sentence for his involvement in a 2016 corruption scandal that spurred massive protests and ousted South Korea’s then-president.
In a much-anticipated retrial, the Seoul High Court found Lee guilty of bribing then-President Park Geun-hye and her close confidante to win government support for a 2015 merger between two Samsung affiliates. The deal helped strengthen his control over the country’s largest business group.
Lee’s lawyers had portrayed him as a victim of presidential power abuse and described the 2015 deal as part of “normal business activity.”
Wearing a mask and black suit and tie, Lee was taken into custody following the ruling. He didn’t answer questions by reporters upon his arrival at the court.
Injae Lee, an attorney who leads Lee Jae-yong’s defense team, expressed regret over the court’s decision, saying that the “essence of the case is that a former president abused power to infringe upon the freedom and property rights of a private company.”
He didn’t specifically say whether there would be an appeal. Samsung didn’t issue a statement over the ruling.
Lee Jae-yong helms the Samsung group in his capacity as vice chairman of Samsung Electronics, one of the world’s largest makers of computer chips and smartphones.
In September last year, prosecutors separately indicted Lee on charges of stock price manipulation, breach of trust and auditing violations related to the 2015 merger.
It isn’t immediately clear what his prison term would mean for Samsung. Samsung didn’t show much signs of trouble during the previous time Lee spent in jail in 2017 and 2018, and prison terms have never really stopped South Korean corporate leaders from relaying their management decisions from behind bars.
Samsung is coming off a robust business year, with its dual strength in parts and finished products enabling it to benefit from the coronavirus pandemic and the prolonged trade war between United States and China.
Samsung’s semiconductor business rebounded sharply after a sluggish 2019, driven by robust demand for PCs and servers as virus outbreaks forced millions of people to stay and work at home.
The Trump administration’s sanctions against China’s Huawei Technologies have meanwhile hindered one of Samsung’s biggest rivals in smartphones, smartphone chips and telecommunications equipment.
Conservative politicians and some members of Moon’s liberal party have endorsed the idea of pardoning the former presidents for the sake of “national unity” as the country’s deeply split electorate approaches presidential elections in March 2022.
Vi showcases 5G
NEW DELHI: Vodafone Idea Limited (VIL), leading telecom operator, today demonstrated a range of 5G-based technology solutions as part of its ongoing 5G trials on government allocated 5G spectrum in Pune, Maharashtra and Gandhinagar, Gujarat.
According to Ravinder Takkar, MD & CEO, Vodafone Idea Limited, “With our 5G trials underway, Vi is preparing to take India on the next journey of fifth generation wireless mobile communication technology. Our 5G trials showcase a whole new world of possibilities across various domains that promise a new era of technology advancement in India. I am confident that 5G will bring a better tomorrow that will deliver significant benefits to consumers, businesses and society, driving digital economy growth in India.”
Today, we demonstrated a range of 5G-based #technology solutions as part of Vi's ongoing #5G trials. Here's a glimpse of our differentiated use case demos for enterprises & consumers. #5GForABetterTomorrow #Vi pic.twitter.com/3GGoXVzfKe
— Vi_News (@VodaIdea_NEWS) November 26, 2021
With the purpose for a better tomorrow, Vi has been conducting 5G trials and developed a wide range of use cases relevant for Enterprises and Consumers in India. Vi has partnered with industry leaders like L&T Smart World & Communication, Athonet, Indian start-ups like Vizzbee & Tweek Labs, and technology leaders – Ericsson and Nokia for trialling use cases in the two locations.
Committed to helping its customers thrive and have a better tomorrow, Vi is leveraging the power of 5G technology across segments such as industry 4.0, smart cities, smart healthcare, smart workplace, smart education, smart agriculture, gaming, amongst others. Vi’s trials have proven that high data speed, low latency and reliability of 5G technology, can bring about massive developments by enhancing business performance, revolutionizing customer experience, changing consumer lifestyle and positively impacting people dwelling in remote corners of India.
Vi has been allocated 26 GHz and 3.5 GHz spectrum in the mmWave band by the DoT, for 5G network trials and use cases. Vi has achieved peak speeds in excess of 1.5 Gbps on 3.5 GHz, more than 4.2 Gbps on 26 GHz and up to 9.8 Gbps on backhaul spectrum of E-bands.
The 5G trial network set up by Vi in Pune, deploys Ericsson Radios and Ericsson Dual Mode Core based on cloud native technology comprising of 5G SA, 5G NSA & LTE packet core functions. All use cases demonstrated in Pune have been developed over Ericsson’s 5G technology solutions.
In Gandhinagar, Vi is using Nokia’s AirScale radio portfolio and Microwave E-band solution for the trial that support enterprises, both large and small and medium businesses with reliable connectivity. Vi use cases in Gandhinagar were demonstrated via a live telecast at the special media preview held in Pune.
LTI, IBM inaugurate innovation and experience center in Bengaluru
NEW DELHI: Larsen & Toubro Infotech, a global technology consulting and digital solutions company has opened an Innovation & Experience Centre at LTI Whitefield campus in Bengaluru (India) focusing on IBM technologies. The Center will assist enterprises in modernizing their operations and accelerating digital transformation journeys.
This Innovation and Experience Center will showcase LTI solutions that have been co-created using IBM technologies such as IBM Cloud and Cloud Paks. The Centre will also serve as a forum for customers to engage with LTI and IBM technical resources for in-depth technology briefings, solution demos, software, tool access and solution workshops.
Sudhir Chaturvedi, President-Sales and Executive Board Member, LTI, said: “The rapid technological advances make it necessary for customers to experience solutions before adopting them. Our new center in Bengaluru fulfils this need for the joint customers of IBM and LTI. This center will offer combined benefits of LTI’s rich domain proficiency and IBM’s deep technical expertise, and thereby assist clients in their transformation journey.”
Through this center, IBM and LTI will collaborate and invest in creating joint solutions and develop industry viewpoints around digital transformation, hybrid cloud, data & AI, and security services. In addition, both LTI and IBM teams, will work with customers to address their requirements around driving digital transformation and managing multiple clouds.
Evaristus Mainsah, GM, Hybrid Cloud and Edge Ecosystem, IBM, said, “This center is an outcome of our growing alliance with LTI to help clients predict, automate, secure, and modernize their business operations. We are confident our clients will benefit from the ease of access to industry-specific assets and customized joint solutions with IBM’s open hybrid cloud approach that will help to accelerate their transformation journeys.”
Distinct features of the center include an IBM Playground for associates to explore and experiment with prototypes, History Zone that highlights LTI-IBM alliance journey, joint customer success stories, Innovation Zone for brainstorming on innovative ideas and planning future offerings, and Discussion Zone with feedback mechanism to ensure continuous improvement.
LTI has strong capabilities in IBM’s Digital Business Automation portfolio. LTI’s Automation consultants are helping clients in driving productivity improvements with industry specific pre-built IBM frameworks. Earlier this year, LTI and IBM had announced expansion of their global alliance.
Cygnet Infotech’s Cygnature adds a new feature; helps procure an electronic stamp online
NEW DELHI: Cygnature by Cygnet Infotech, the global Technology Products & Services company, has added an important feature called ‘e-stamp’ to its e-signing solution. Cygnature is an award-winning signing solution that securely authenticates signers, offers them a range of signature types for signing and protects the integrity of the documents.
With the e-stamp feature, businesses will be able to procure e-stamps through Cygnature platform and significantly ease the process of stamping documents.
COVID-19 has been a catalyst in pushing industries to move towards a paperless economy by offering a faster way of executing documents. Cygnet Infotech’s Cygnature supports organizations when it comes to digitally transforming their businesses. Cygnet Infotech’s Cygnature has added a useful feature ‘E-Stamp’ in its latest release providing multiple benefits. E-stamp can be generated within minutes using this feature. It can help you save time as physical stamp paper procurement is a time-consuming process. Users can prepay the stamp duty amount and then issue stamp papers against that balance.
With Cygnature, the solution can help digitize the process of paying the stamp duty and procuring e-stamp challan online rather than going to a stamp paper vendor to procure traditional stamp paper:
1. Initiate a workflow by uploading an agreement on Cygnature
2. Add E-stamp, select state and stamp duty amount to be paid for the relevant document category
3. Provide details of first and second party
4. On confirmation of details, the e-stamp challan will be generated and gets added instantly to the uploaded agreement
5. Both the parties can then continue to sign the document using Cygnature by adding placeholders to e-sign the document
6. The stamp duty amount will be deducted from the prepaid amount you deposit in your Cygnature account
7. The physical copies of the stamp paper will be couriered at the end of the month to the consumer’s address
Cygnature will not provide advice on the amount of stamp duty to be paid. This will have to be decided by the user.
Niraj Hutheesing, Founder & Managing Director at Cygnet Infotech said, “Cygnet Infotech’s product, Cygnature has been developed with an aim to promote seamless digital signing of documents. With the introduction of Cygnature’s E-stamp feature, we seek to further support businesses in speeding up the process of authorization of documents. Paying stamp duty is mandatory for many transactions across the country, and to simplify the process, e-stamp will help tackle counterfeiting and will further make the payment of stamp duty easier and glitch free.”
In this latest release, Cygnature’s E-stamp feature will be available for 5 states – Delhi, Gujarat, Maharashtra, Karnataka and Tamil Nadu.
4g6 months ago
Jio’s IAX and IEX projects to address region’s data revolution
Broadband6 months ago
Nokia modernizes Subisu’s optical network for high-speed broadband across Nepal
5g6 months ago
Capgemini joins hands with Ericsson to support client innovation at its 5G Lab for Industries in India
Broadband5 months ago
Tremendous potential for proliferation of Wi-Fi hotspots in India: TRAI
5g6 months ago
5G tech safe; concerns around health consequences misplaced: COAI
Appointments6 months ago
Justice Vikramjit Sen to head Digital Media Content Regulatory Council
5g5 months ago
JioPhone Next, co-developed with Google, to be most affordable smartphone globally: Mukesh Ambani
5g5 months ago
Samsung launches new 5G Radio with integrated antennas