Hoban Construction Develops Entrance Door Facial Recognition Technology Through Startup Tech Partnership

Introduction material of the 'Smart Home Access Security System' developed by CVT (Provided by Hoban Group)

[Asia Economy Reporter Lee Chun-hee] Hoban Group announced on the 28th that Plan H Ventures, an accelerator corporation of Hoban Construction, invested in the security solution company CVT through open innovation. Open innovation refers to an innovation method in which companies procure the technologies and ideas they need from outside while sharing internal resources externally to create new products or services.

CVT, a company providing facial recognition-based security solutions, is currently developing a "smart home access security platform." The latest technologies are applied, including multi-recognition technology that can recognize multiple people at once and improved recognition rates for socially vulnerable groups.

CVT's platform is expected to resolve the difficulties of existing high-priced security solutions and popularize facial recognition technology. Going forward, Hoban Construction plans to apply facial recognition technology to its leisure business sectors such as Hoban Summit, Verdiium Apartments, and Hoban Hotel & Resort.

In particular, CVT has gained momentum in technology development by recently being finally selected for the Ministry of SMEs and Startups' TIPS program with the help of Plan H. Through the TIPS selection, CVT is expected to receive about 700 million KRW in support, including 500 million KRW in R&D funds from the Ministry of SMEs and Startups, up to 100 million KRW in startup commercialization funds, and up to 100 million KRW in global expansion funds. Additionally, CVT recently signed a strategic partnership with Panasonic, laying the groundwork for entering the Southeast Asian market.

Won Han-kyung, CEO of Plan H, said, "There is still a lack of security platforms that meet the rapidly changing environment such as the increase in single-person households and the spread of untact (non-face-to-face) life," adding, "I am confident that CVT will successfully develop and popularize the 'smart home access security platform' through the TIPS program."