DA Technology-Korisen, $150 Million MOU for Supply of Finger Vein Biometric Authentication System

DA Technology announced on the 25th that its new business partner, Corisen, has signed an MOU (Memorandum of Understanding) with Ramzik Technology for the vein biometric authentication business and equity acquisition.

Through this MOU, Corisen stated that it has successfully entered the Middle Eastern market based on the competitiveness of its vein biometric authentication system. Initially, it plans to supply 500,000 units of the vein biometric authentication system and smartwatches. Priced at $300 per set, the total value amounts to $150 million (approximately 198.9 billion KRW).

Ramzik Technology, located in Dubai, is a specialized company in blockchain technology-based digital asset solutions. It is promoting the establishment of a digital asset ecosystem in Dubai through asset tokenization, including tokenomics development, token project support, and software development.

Corisen has granted Ramzik Technology the exclusive sales rights for the vein biometric authentication system and smartwatches. Ramzik Technology plans to supply these products under its own brand name, targeting not only the Middle East but also the global market. Additionally, it intends to acquire a 20% stake (2.6 million shares) in Corisen.

A DA Technology official stated, “Since May, we have been collaborating with Corisen not only on the new non-rare earth permanent magnet business but also in various other areas. Based on DA Technology’s equipment development and production capabilities and global network, we plan to actively support Corisen’s entry into the Middle Eastern and global markets through investments and other means.”

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