Korea’s door lock model that has iris recognition technology installed is being exported to China. Starting with about 200,000 door locks, amount of supply is going to be increased every year. This is the first time Korea’s iris recognition technology is exported to China, and it is being recognized as a solution that will replace China’s fingerprint recognition market.
K-lab (CEO Kim Hong Shin) announced on the 16th that it is exporting $2.37 million and $7 million worth of iris recognition technology to F Company in Shenzhen and W Listed Company in Ningbo respectively. It is supplying 150,000 and 55,000 amount of door locks respectively. K-lab signed contracts with two companies on supplying them with door locks.
K-lab is going to test produce 100 sets of iris recognition doorlock’e1’ model within this month and full-scale production in September. It will supply 150,000 door locks just this year and install 4G data modem, which will be co-developed hereafter, on to additional models. It will supply 55,000 sets of finished door lock products ‘e3’ model to W Company this year and increase its amount of supply to 100,000 sets every year starting from next year.
“Products that are being exported are specialized products that have their prices lowered to Chinese fingerprint recognition system standard. Two companies will currently sell these products to surrounding areas of Guangdong Province, central part, and Huadong Province.” said CEO Kim Hong Shin of K-lab.
E1 and E3 models that K-lab is developing and providing are doorlock products that can be used on normal offices or entry systems of laboratories. Although it has iris recognition technology, it lowered their prices to products with fingerprint recognition technology standard. By doing so, it was able to remove biggest obstacle that prevented iris recognition technology market from being vitalized.
Its fast processing speed by applying original coding technology is also one of its strengths. If one puts his or her iris near door lock, it can check whether it is the right iris or not within just 0.3 seconds. Its accuracy is also very high. According to Korea Internet & Security Agency’s (KISA) official measurement, recognition rates of two products are 98%, which are higher than rate of fingerprint recognition. K-lab also installed original technology that can recognize a person by automatically tracing pupil according to movement of pupils.
“Out of many body recognition technologies, iris recognition has the highest security and that is why many countries including China are showing high interests. We are planning to enter to Japanese, South American, and Middle Eastern markets as well after Chinese market.” said CEO Kim.
According to market investigative company, biggest reasons why there is a delay in growth of iris recognition field are performance, price, and convenience. Although there was limitation that this technology was only applied in high-priced special markets even though there were high demands from variety of fields, K-lab was able to overcome these obstacles.
Staff Reporter Yun, Daewon | yun1972@etnews.com