April 12, 2024

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Hancom announces strategic investment decision in Spanish AI biometric corporation FacePhi

  • Hancom acquires special enterprise rights to FacePhi in APAC region

  • Hancom to create bridgehead for entering the abroad AI sector by marketing beneath Hancom manufacturer (white labeling)

  • FacePhi retains facial recognition technological innovation with planet-course stability

BARCELONA and SEOUL, South Korea, March 25, 2024 /PRNewswire/ — Hancom (CEO Seong-jun Byun and Yeon-soo Kim) plans to make a strategic expenditure in FacePhi, a Spanish synthetic intelligence (AI) biometric corporation.

Hancom’s CEO Yeon-soo Kim (L) & FacePhi’s CEO Javier Mira (R) at the Invest Signing Ceremony in Barcelona, Spain

Hancom introduced on the 25th that it has signed an expenditure arrangement in Barcelona, Spain, with Hancom’s CEO Yeon-soo Kim and FacePhi’s CEO Javier Mira in attendance. This expense agreement will let Hancom to make equity investments in FacePhi and protected unique business legal rights to FacePhi in the APAC area.

Stated at the same time on the Spanish and French stock exchanges, FacePhi holds a variety of AI-based biometric systems these kinds of as experience, fingerprint, pupil, and voice recognition technologies essential for biometric authentication. The firm operates primarily in Europe and Latin America. Regarded for its outstanding engineering at dwelling and abroad, it has secured a large quantity of economical businesses as customers in Korea.

In unique, with regard to anti-spoofing (fake identification) functionality, which is the most significant aspect in facial recognition technologies, FacePhi possesses technology making use of a passive strategy (authenticating id with a one frontal facial impression), which is emerging as a future-era know-how, alternatively than the greatly utilized lively technique (necessitating the person to transfer his or her face to demonstrate id). In 2022, FacePhi obtained i-Beta Stage 2 certification from the National Institute of Standards and Technologies (NIST), which guarantees the anti-spoofing general performance of facial recognition know-how. The point that there are only 9 passive i-Beta Amount 2 businesses in the environment demonstrates that FacePhi’s technological innovation is globe-class.

This expense will make Hancom the second greatest shareholder of FacePhi, and the enterprise will use it as a bridgehead to reinforce its placement in the global AI sector through white labeling by offering FacePhi’s methods under the Hancom brand in the Asia Pacific (APAC) location.

Hancom expects this deal to have a synergistic influence and options to explore new and enhanced companies and enterprises by combining FacePhi’s multi-recognition biometric technology with Hancom’s AI, HancomWITH’s safety technological innovation, Clipsoft’s reporting resource, and Hancom CareLink’s healthcare service.

“By this financial commitment, we will be ready to expand Hancom’s AI organization area and we assume to increase overseas profits by giving Hancom-branded FacePhi solutions to the whole Asia-Pacific region in the future,” explained Yeon-soo Kim, CEO of Hancom. “We will keep on to lead the AI current market by actively marketing collaboration with, investment in, and acquisition of knowledgeable AI firms.”

In the meantime, the international electronic authentication solution industry is increasing at an common once-a-year progress amount of 12%, and as protection ranges are strengthened, there is a development of shifting from the classic fingerprint recognition-centered biometric technological know-how to facial recognition. In order to react to technological developments these types of as deepfakes, the adoption of passive solutions to avoid forgery is anticipated to enhance.

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Resource HANCOM