Hello everyone, this is Alex on Pangeo Techno Valley Weekly News. Here is the news from the first week of May. First up, SK Bioscience to apply for domestic approval of its COVID-19 vaccine, SkyCovI-1 GBP 510. SK Bioscience announced on the 29th that it applied for approval of the Ministry of Food and Drug Safety of its COVID-19 vaccine, SkyCovI-1 GBP 510. The name of the product is finalized as SkyCovI-1. If approved, it will become South Korea's first COVID-19 vaccine. SkyCovI-1 is a synthetic antigen COVID-19 vaccine. It received development funding from the Bill and Melinda Gates Foundation and the Coalition for Epidemic Preparedness Innovations. Global pharmaceutical company GSK's Immune Boosting Agent was applied and it was jointly developed with the Antigen Design Research Institute at the University of Washington in the US. SK Bioscience has secured immunogenicity and safety data from Phase 3 clinical trials. Antibodies that induce prevention by neutralizing the infection of COVID-19 when vaccinated twice with SkyCovI were formed at a rate of 2.93 times higher than the control vaccine. The antibody conversion rates for subjects whose neutralized antibodies have more than crawled droopled when getting SkyCovI-1 vaccination was 98% more than 10 percentage points higher than the antibody conversion rate of the controlled vaccine. Even in the elderly age 65 or older, the antibody conversion rate was 95%. So the control vaccine was 79%. SkyCovI-1 will be supplied to countries around the world through COVAX facility after getting domestic approval. Our second story, Genius Cacao Healthcare to formalize an agreement on healthcare based on genetic information. Genius, a company specializing in genetic analysis will join forces with Cacao Healthcare to build an ultra personalized healthcare service. Genius announced on the second that it has signed a memorandum of understanding on a digital healthcare partnership with Cacao Healthcare. It plans to jointly promote a direct-to-consumer personal genetic diagnosis service and a precision medical artificial intelligence platform business. Park Unyoung, CEO of Genius and Huang He, CEO of Cacao Healthcare, attended the signing ceremony. Based on genetic data, the two companies plan to jointly carry out healthcare projects by life cycle. The goal is to present a healthcare method that is tailored to individuals based on genetic data obtained through DTC tests and individual lifestyle habits. Genius has a single cell analysis technology that can analyze every single cell and a cancer genome analysis solution. The data of 5000 Koreans is secured through health scan, a medical examination genetic test service for the general public. Cacao Healthcare, which split off from Cacao in March, is building a mobile based digital healthcare ecosystem, including efforts to standardize medical data. It plans to support the application of AI technology in the process of developing healthcare services. Our third big story today, NHN Edgey to Attract Investments, worth 32 billion won, set out to create metaverse for education, NHN Edgey, a subsidiary company of NHN, announced on the second that it attracted investments worth 32 billion won from not a investment and BNW investment. Combined with education in ICT, the education technology that makes improvements in other investments to educational services, this sector is growing rapidly around the world. The global education technology market expenditure is projected to reach $404 billion by 2025. With these investments, NHN Edgey is set out to secure its position as a leading company in education technology. It explains that it will advance its education platform, IM School, which has 6.7 million members and gained momentum in the creation and operation of the metaverse for education. NHN Edgey provides services, depending on users by dividing IM School into a school notification only service and a community for parents. With a focus on securing loyal customers, schools are also planning to expand exclusive services from school news to administration and allow parents to choose services according to their needs. In addition, NHN Edgey is planning to create a virtual cycle of data with an aim of establishing a metaverse platform for education enjoyable for students and reliable for parents and faculty members. It is considering making investments in or acquiring outstanding edu Tech startups to advance its services. And for our final big stories of the week, NAVOR WebTune becomes a platform for 180 million viewers per month in 5 years since it's been off. After WebTune recorded 180 million active monthly users, it has been 5 years since the spin-off. At the time of the spin-off in 2017, the company had 46 million users. Annual transactions also increased during that same time period. Last year annual transactions amounted to 1.5 trillion won. It more than quadrupled from about 240 billion won at the time of the spin-off in 2017. For WebTune explained that it has been expanding its StoryTech platform model to the global market, which has proven its success in South Korea over the past 5 years. In particular, it explained that NAVOR WebTune's platform model, which has both an amateur content model that anyone can showcase their works on, and an original content model that is officially serialized on the WebTune platform, is showing overseas results. The number of monthly active users of the StoryTech platform built around the world by NAVOR WebTune increased from 46 million at the time of the spin-off in 2017 to 180 million as of March 2022. This includes NAVOR WebTune in South Korea, Line WebTune, East Asia, WebTune, North America and Central America in Europe, and Line Manga in Japan. NAVOR WebTune has challenged overseas markets where WebTunes were unfamiliar early on, and is currently providing services in a total of 10 languages around the world, including the areas of South Korea, Japan, North America, Europe, Southeast Asia, and Latin America. Now in particular, it overcame cultural barriers by applying amateur promotion systems and contests to each cultural area and continuously identifying local creators to create a local creator ecosystem. About 6 million creators are working on NAVOR WebTunes global platform and WAPPAD, and the cumulative number of works has reached 1 billion. In addition, NAVOR WebTune has grown based on the strength of 1, a strong global platform, where a number of creators and users communicate, 2, a strong business model, and 3 intellectual property to secondary and tertiary creations. Therefore, WebTunes and Web novels have grown into core IPs in the global entertainment market. NAVOR WebTune explained that it has been improving its creative environment by taking the lead in developing artificial intelligence technologies such as AI Painter, which automatically colors and Tune Radar, which monitors distribution of illegal copies. And now it's time for the quick news of the week. First up, Nexon. To begin, intensive recruitment for positions in the new development division. Nexon's new development division will focus on hiring Project M.O.D. and Faceplay Development personnel. A total of 14 sectors will hire workers in the double digits. Based on recruiting talent, Nexon is stepping up efforts to develop games that didn't exist before by breaking away from the one-size-fits-all game development culture that currently exists. According to Nexon, the company will hire up to 99 people in the areas of backend, server, client, game programmer, front-end, planning, artificial intelligence research, software engineer. Time planning, video production, and front-end development engineer. Next up, OnLab teaches how to respond to cloud security threats at OnLab Online Seminar. OnLab announced on the second that it held an OnLab Online Seminar 2022 for corporate security personnel on the 28th and introduced counter measures against cloud security threats. The seminar included effective security configuration measures for threat response in the cloud environment, core security features of the general cloud workload protection platform, and cloud threat response measures using the function of OnLab's CWPP solution, OnLab CPP, and actual response cases to security vulnerabilities. And finally, we made to target a global asset market and establish a branch office in Dubai, an emerging virtual asset city. We made will enter the Dubai market, which is called a virtual asset friendly city. It's the first time that a Korean gaming company opens a branch in the UAE and expands its business area there. There is a We Made Tree Singapore Corporation, the predecessor of blockchain gaming platform WeMix, but it seems that Singapore has used to buy as a new outpost, as it has recently tied regulations on virtual assets. That's it for the Pungo Techno Valley Weekly News. I'm Alex Sigourist, and I'll see you next week.