- The South Korean group becomes the company’s second largest shareholder.
- Facephi cements its position in the Asia-Pacific market by distributing its identity verification products in the region through the South Korean software developer.
Their joint plans, announced in March by means of a Memorandum of Agreement (MOA) between the Korean Hancom Group and Facephi, were formalised on 14 May by signature of the final agreement.
The contract involves investment of five million euros by HANCOM, which thus becomes Facephi’s second-largest shareholder and exclusive distributor of its products in the Asia-Pacific (APAC) region, a move that marks a significant milestone in the Spanish company’s international expansion by opening up a direct pathway for penetration of its biometric verification services in the region, while strengthening Hancom’s product portfolio.
Hancom thus becomes Facephi’s second-most-important shareholder behind Nice & Green’s holding of roughly 17.56% and ahead of CEO Javier Mira’s 5.61%.
A royalty scheme will be set up as an integral part of the agreement, under which Hancom will remunerate Facephi with licencing fees pegged to operating profits from the sale and distribution of the products in the region.
With the investment confirmed and exclusive distribution secured in the Asian market, Hancom and Facephi look forward to a future of close collaboration and mutual growth. The strategic partnership not only strengthens the position of both groups on the global market, but also opens new doors of opportunity in the technological landscape.
