Facephi to supply ID verification solutions to Samsung Securities

South Korea's Hancom Inc. announced on Monday that Facephi, a Spain-based AI biometric recognition company in which Hancom had recently acquired equity shares, has signed a contract to supply identity verification solutions to Samsung Securities.

Hancom reported that with this supply contract, Facephi is set to strengthen its position in the Asia-Pacific market.

Facephi is a company listed on the stock exchanges of Spain and France, and it possesses various AI-based biometric recognition technologies necessary for identity verification, including facial, fingerprint, iris, and voice recognition.

On the same day, Hancom completed the payment for the share acquisition, becoming the second-largest shareholder with a 7% stake, and secured exclusive business rights for Facephi in the APAC region.

Earlier in March this year, Hancom CEO Kim Yeonsu met with Facephi CEO Javier Mira in Barcelona, Spain, to directly sign the investment agreement.

Write to Joo-Wan Kim at kjwan@hankyung.com