The Korea Fintech Industry Association (Chairman Lee Geun-joo, CEO of Hanpass) and Korea Recognition Industry Co., Ltd. (CEO Lee Myeong-seong) signed a business agreement on November 5 to create a safe identity verification environment for the fintech industry and expand ID verification solutions.
The main contents of this agreement include ▲support for the application and expansion of ID authentication solutions within the fintech industry ▲provision of solutions under reasonable conditions to small-sum overseas remittance business members ▲suggestions on policies and systems with the government and related organizations ▲promotion of joint research and demonstration projects.
Under the agreement, the Korea Fintech Industry Association will support member companies in improving their identity verification environment and enhancing their authentication infrastructure, while the Korea Recognition Industry will be responsible for providing solutions and ensuring stability based on its technological prowess and operational experience.
With this agreement, the two organizations plan to gradually pursue joint projects, including the industrial expansion of ID authentication solutions, technology verification, and policy cooperation. Through these efforts, they aim to strengthen the foundation of trust in the fintech industry and enhance the service competitiveness of member companies.
“As the fintech industry grows, ensuring the reliability and security of identity verification is becoming increasingly important,” said Lee Geun-ju, president of the association. “This agreement will enable fintech companies to introduce advanced identity verification systems at a reasonable cost, which we expect will further strengthen the foundation of trust across the industry.”
He added, “The association will continue to provide policy support to establish a safe and efficient identity verification system,” and “We will actively work with our member companies to expand the trust infrastructure of the fintech industry.”
Lee Myeong-seong, CEO of Korea Recognition Industry, said, “Secure identity verification infrastructure is essential for the continued innovation of the fintech industry,” and added, “Through this agreement, we will contribute to increasing reliability and convenience across the industry.”
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