[Click eStock] "Suprema, Face Recognition Technology Highlighted in the Untact Era"

[Asia Economy Reporter Hyungsoo Park] ResearchAlum expressed on the 24th that Suprema has the potential to grow as a leading company in the contactless (untact) sector. They suggested a target price of 45,000 KRW.

Choi Seonghwan, Senior Researcher at ResearchAlum, explained, "Due to the impact of the novel coronavirus infection (COVID-19), the world is transitioning to a contactless era," adding, "In the security market, facial recognition technology that requires no physical contact is gaining attention."

He continued, "Since 2012, Suprema has been selling facial recognition security products worldwide," and added, "Suprema's overseas export ratio is around 80%, and orders from overseas markets including Europe and the Middle East, as well as domestic orders, are expected to increase."

He forecasted, "The global biometrics market will reach 77 trillion KRW in 2023, growing at an average annual rate of 14.6%," and "The share of the facial recognition segment will increase from 9.7% to 11.7%."

Researcher Choi emphasized, "Last month, Suprema launched a facial recognition security solution capable of measuring body temperature," and stated, "Since it integrates with existing access control and attendance management systems, efficient sales targeting existing customers will be possible."

He also analyzed, "As of the first half of the year, Suprema holds cash assets of 104.8 billion KRW," and "It has secured a stable financial structure."

This content was produced with the assistance of AI translation services.