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Gaw Capital Acquires Korea’s Leading Waste Management Firm Koentec as First Waste Management Infrastructure Investment
Koentec is the number one operator in waste incineration and steam production (by single-site capacity) with sizable landfill capacity in South Korea. Strategically located in the Ulsan Industrial Complex Zone, the country’s hub for automotive, shipbuilding, and petrochemical industries, Koentec operates a highly efficient, end-to-end waste management platform from a single site. The company boasts industry-leading EBITDA margins with significant potential for organic growth through capacity expansion and bolt-on acquisitions.
Founded in 1993 through a joint investment by 85 companies operating in the Ulsan/Mipo Industrial Complex, Koentec has established long-standing relationships with a roster of blue-chip customers. These relationships are anchored by B2B contracts, many of which span over 20 years.
This acquisition underscores Gaw Capital’s strategic commitment to expanding its presence in the infrastructure sector and leveraging Koentec’s strong market position to capitalize on future growth opportunities in the waste management industry in Korea and across Asia-Pacific.
Kenneth Gaw, President & Managing Principal at Gaw Capital Partners, said, “We are excited to see our first waste management infrastructure investment in Asia, a quality addition to our portfolio. Waste management is an essential public service with inelastic demand regardless of economic conditions, providing predictable revenue streams that appeal to institutional investors. This acquisition aligns perfectly with our strategy of diversifying the asset classes we invest in, reinforcing Gaw Capital’s position as a leading multi-asset investment manager. Korea is also a key focus market for our firm, and we continue to look for opportunities to expand our presence there.”
Hyun-Chan Cho, Head of Infrastructure and Head of Korea at Gaw Capital, said, “Koentec holds a strong position in the region, supported by attractive long-term growth potential and a robust financial profile. With high regulatory and capital barriers, proven private-sector operators play a critical role in Korea’s waste industry. We are pleased to invest in a business that advances the circular economy and provides carbon credits to its steam customers, and we look forward to growing the company in partnership with a broad range of stakeholders.”
Korea’s waste management industry is one of the most advanced in the world, with significant barriers to entry. Strict government oversight has resulted in a recycling rate of over 80% and a landfill diversion rate of over 90%, both ranking among the highest in OECD nations.
Hashtag: #GawCapital
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About Gaw Capital Partners
Based in Asia, Gaw Capital Partners is a multi-asset investment management firm focusing on real estate, growth equity, private credit and infrastructure markets globally.
Since its inception in 2005, the firm has raised seven commingled funds targeting Asia Pacific, alongside value-add /opportunistic funds in the U.S., a Pan-Asia Hospitality Fund, a European Hospitality Fund, a Growth Equity Fund and a Credit Fund. It also manages credit strategies and separate account direct investments globally.
Gaw Capital has consistently generated high yields by revitalizing underperforming assets, enhancing value through creative financing solutions and leveraging deep expertise in capital allocation.
Since 2005, the firm has managed US$34.3 billion in assets and raised US$24.6 billion in equity as of Q3 2025.
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4,680 young Chinese volunteers called “Little Deer” ready for Asian Beach Games
Recruited from 12 universities, including Hainan University and Hainan Normal University, as well as other local organizations, the volunteers share the common nickname “Little Deer.” The name is derived from Sanya’s nickname, “Deer City,” and is meant to reflect the volunteers’ lively, warm, and friendly spirit.
“See ya in Sanya” is both the slogan of the Asian Beach Games and the guiding principle for its volunteers. Liang Zihan, a student from Hainan Tropical Ocean University, said: “Since the launch of the volunteer recruitment drive, whether it is learning about the Games, mastering multilingual communication, or taking part in scenario-based drills and emergency exercises, I have given it my all. I hope to convey Sanya’s warmth, openness, and inclusiveness to every friend who comes from afar.”
Alongside local students, the volunteer team also includes many young people from across China brought together by the Games. Wu Yujia, a sophomore at the Hospitality Institute of Sanya, is one of them. “I want to show a warm, caring, and energetic Sanya,” she said. When asked about her future plans, she did not hesitate: “I want to stay in Sanya.” In her eyes, the city’s pleasant climate and beautiful scenery have deepened her affection for it and strengthened her commitment to volunteering.
The 6th Asian Beach Games will be held in Sanya, Hainan, from April 22 to 30, 2026. Delegations from all 45 member countries and regions of the Olympic Council of Asia (OCA) will take part in what is the largest and most influential beach sports event in Asia. As the first major international sporting event to be held in Hainan after the independent customs operations of the Hainan Free Trade Port, the Games are not only a celebration of Asian sport but also an important opportunity for Hainan to present an open and welcoming face to the world.
The issuer is solely responsible for the content of this announcement.
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SERES’ Clifford Kang Highlights AI-Enabled Smart Mobility at the 2026 World Internet Conference Asia-Pacific Summit
The summit, hosted by the World Internet Conference and organised by the Government of the Hong Kong Special Administrative Region, brought together global industry leaders to explore developments in digital and intelligent transformation.
Against this backdrop, Kang noted that artificial intelligence is accelerating a fundamental shift across industries, with mobility among the most significantly transformed sectors. AI is moving from merely functional to truly frictionless, becoming deeply embedded in every part of our lives and emerging as an inclusive force that enhances mobility, living and consumption experiences.
As this transformation accelerates, SERES continues to embed intelligence across its full value chain, from product development to manufacturing and user services, using continuous innovation to enhance user experience and strengthen its long-term competitiveness as a technology-driven new energy vehicle company.
A key milestone of SERES came in 2021, when SERES entered a cross-industry partnership with Huawei to launch the AITO brand, its premium new energy vehicle brand. At the time, the industry was facing a clear disconnect, where intelligent cars were not luxurious, while luxury cars were not intelligent. In response, AITO introduced the brand philosophy of “Intelligence Redefining Luxury”, positioning intelligence as the foundation of its premium mobility experience. The brand name itself, derived from “adding intelligence to auto”, reflects this core DNA.
Today, that strategy has translated into scale and adoption. AITO has built a user base of more than 880,000 active users of its smart driving assistance system, with total journeys surpassing 6.6 billion kilometres.
Clifford Kang further emphasised that a great product alone is not enough, and that company need to focus on the entire lifecycle user experience. Guided by this principle, SERES has extended intelligent technologies at scale across both manufacturing and customer service to improve every touchpoint.
In manufacturing, the SERES Super Factory, operates with more than 5,000 robots, enabling 100% automation of critical processes. AI vision inspection technology ensures strict quality control of key components, ensuring high quality standards across production.
On the customer service end, SERES has built a 24/7 cloud-based safety service system powered by AI and big data, enabling a shift from reactive support to intelligent predictive service. In 2025 alone, the system delivered approximately 250,000 proactive alerts to customers. One notable example came in July last year, when AITO M9 completed the industry’s first satellite-enabled rescue operation in a remote region of China, highlighting both the practical value and human warmth of intelligent connected technologies in real-world scenarios.
Looking ahead, Clifford Kang stated that new energy vehicles are evolving into the mobile intelligent space, requiring further robust investment in research and development. In 2025 alone, SERES invested RMB 12.5 billion in R&D, representing a 77% year-on-year increase. This investment has enabled the company to develop a suite of core technologies, including the SERES MF Platform, Super Range Extender and Intelligent Safety systems. These innovations are continuously applied across SERES’ products to enhance performance and deliver better mobility experiences for users.
“Bringing eruptive technology from the laboratory to the road requires more than one company’s efforts”, Kang said. “Open collaboration is the most efficient path forward. SERES has always embraced openness and partnership. We want to work with industry partners around the world to advance the mobility sector together. Let’s build up the future where technology has the vision to lead, the precision to excel, and the warmth to care.”
Hashtag: #SERESGroup
The issuer is solely responsible for the content of this announcement.
About Seres Group
Seres Group is one of China’s leading luxury new energy vehicle companies. Its premium brand AITO has surpassed one million cumulative users. In 2025 AITO became the best-selling Chinese luxury car brand in the domestic market. With strong capabilities in areas such as intelligent driving, SERES is bringing its vision of “Intelligence Redefining Luxury” to global markets and delivering a smarter mobility experience to more users around the world.
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Taicang Day in Munich: Celebrating 18 Years of Sino-German Industrial Innovation
The event featured a distinguished lineup of speakers who shared their insights on deepening cooperation. Gudrun Weidmann, Director for Internationalization at the Bavarian Ministry of Economic Affairs; Zhai Qian, Minister Counselor of the Chinese Embassy in Germany; Chen Xiaodong, Deputy Director of the Jiangsu Provincial Department of Commerce; Dr. Christian Scharpf, Deputy Mayor of Munich and Head of the Department of Labor and Economic Affairs, and Michaela Schenk, Chair of the Foreign Trade Committee of the Chamber of Commerce and Industry for Munich and Upper Bavaria, delivered opening remarks. The proceedings were moderated by Stefan Geiger, Chairman of the China-Western Bavaria Business and Cultural Association.

Chen Gao, Secretary of the CPC Taicang Municipal Committee, delivered a keynote address titled “Green, Innovation, and Integration: Establishing a Model for Sino-German Cooperation.” In his speech, Chen drew a poetic parallel between Munich and Taicang’s home region of Suzhou, describing both as paragons of the perfect fusion between tradition and modernity where cutting-edge technology and modern industry coexist harmoniously with rich cultural heritage.
Reflecting on 33 years of deep engagement with Germany, Chen emphasized that Taicang’s bilateral cooperation has reached a historic turning point, transitioning from merely attracting foreign capital to fostering two-way investment, and from industrial supply-chain support to the co-creation of a complete industrial ecosystem. The Secretary highlighted three flagship Taicang projects recently included in the official achievement list of the high-level Sino-German summit—the Schaeffler Humanoid Robot Digital Factory, the Sino-German Taicang Zero-Carbon Park, and the Taicang Rhine-Neckar Innovation Center. These milestones vividly demonstrate Taicang’s momentum in pivoting toward green transformation, collaborative innovation, and deep bilateral integration. Taicang’s strategy remains built on the philosophy of long-termism, with Chen reaffirming the city’s dedication to optimizing a market-oriented, law-based, and internationalized business environment while reinforcing its brand identity as a “home away from home” for German community.
Following these addresses, the event yielded several milestone agreements aimed at facilitating practical cooperation, including the official inauguration of the VDE China representative office in Taicang and the signing of a new batch of German scientific innovation projects. To further support the internationalization of local firms, the Taicang Enterprise Overseas Service Center was officially unveiled, alongside a dedicated matchmaking session for Chinese companies expanding into global markets. Furthermore, State Grid Taicang Power Supply Company presented its latest initiatives in Green Compliance and Environmental Sustainability, a presentation that received widespread acclaim for aligning industrial power solutions with international ESG standards.
Taicang’s strategic appeal is rooted in its premier location adjacent to Shanghai and its world-class infrastructure. Situated within a 30-minute commuting radius of central Shanghai, the city offers rapid access to Hongqiao Airport in 20 minutes and Pudong International Airport in just over an hour. Its maritime gateway, the Port of Taicang, features a 12.5-meter deep-water channel and ranks 8th in China and 20th globally, with an annual throughput exceeding 10 million TEUs. This logistics network supports a robust industrial ecosystem of over 5,000 enterprises, where 70% of vehicle components can be sourced locally.
Widely recognized as the “Home of German Enterprises” in China, Taicang now hosts over 560 German firms, including 60 “hidden champion” companies. This specialized cluster represents more than 10% of all German manufacturing enterprises in China. The city’s collaborative success is further evidenced by projects mentioned above in Chen Gao’s speech such as the Schaeffler Humanoid Robot Digital Factory and the Sino-German Taicang Zero-Carbon Park, and the Taicang Rhine-Neckar Innovation Center, all of which were included in the official achievement list of the German Chancellor’s visit to China.
To support its growing international community, Taicang has developed a sophisticated service ecosystem. The city’s Foreigner Service Center integrates 73 specialized services, supported by the “Hi Taicang” card which provides foreign residents with enhanced convenience in healthcare, education, and transportation. Complemented by cultural landmarks like the Rothenburg-themed street and authentic German bakeries, Taicang has created an environment where international partners can truly root themselves for long-term success.
Hashtag: #TIZ
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