Unisem Absorbs Subsidiary Korea Smart ID in Merger... "Expecting Enhanced Competitiveness and Synergy"

[Asia Economy Reporter Hyunseok Yoo] Unisem announced on the 21st that it has decided to merge its subsidiary Korea Smart ID (KSID). The merger date is set for December 22, and all merger procedures are expected to be completed within the year.

Unisem holds 97.3% of Korea Smart ID's shares, so the merger will proceed as an absorption merger at a ratio of 1 to 0. A Unisem official stated, “Since the IoT division and Korea Smart ID operate similar businesses, increased efficiency and strengthened competitiveness are expected through integrated operations,” adding, “Korea Smart ID's existing businesses will continue under Unisem's IoT division.”

Korea Smart ID is a security authentication and solution IT company established by Unisem in 2013. It was the world's first to commercialize fingerprint authentication cards and is currently supplying integrated identification cards to a United Nations (UN) affiliated organization.

Unisem is a specialized company in semiconductor and display equipment and operates an IoT division to secure growth engines. Unisem's IoT division has developed and commercialized logistics tracking systems using Wi-Fi scan technology and UniTraffic, an intelligent traffic video analysis system (ITS) based on deep learning.

A Unisem official said, “This merger prioritizes long-term corporate value enhancement, and through restructuring existing businesses, it is expected to generate organic synergy in improving management efficiency for sustainable future growth and securing future growth engines through research and development.”

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