[Special Stock] Kysign Enters Samsung Digital Currency Market... Leading Samsung Standardized Products and Cryptocurrency

[Asia Economy Reporter Park Hyungsoo] K-sign's stock price is soaring. It appears that the news of Samsung Electronics partnering with Kakao to participate in the Bank of Korea's 'Central Bank Digital Currency (CBDC)' project has influenced the stock price.

As of 10:57 AM on the 4th, K-sign is trading at 2,915 KRW, up 15.71% from the previous day.

On this day, a media outlet reported that Samsung Electronics has been confirmed to join the Kakao consortium selected as the Bank of Korea's CBDC pilot project operator. Samsung Electronics is known to be experimenting with embedding CBDC into its smartphone 'Galaxy' to test whether it can be used even when not connected to the internet. Samsung Electronics, Kakao's blockchain subsidiary GroundX, and the Bank of Korea plan to begin full-scale research work from the 28th of this month until June next year. They plan to implement CBDC issuance and distribution, as well as cross-border remittance and payment functions, in a virtual environment.

K-sign possesses blockchain-based cryptocurrency electronic wallet (TouchxWallet) technology. The growth of the virtual currency market, which has infinite scalability beyond the limitations of the current paper-based monetary system, has already been confirmed domestically and internationally. For example, global conglomerates with financial affiliates are discussing ways to link securities and insurance through traders specializing in managing cryptocurrency assets. Since 2016, K-sign has been expanding its development scope annually from product research that can contribute to the commercialization of cryptocurrency in the form of electronic wallets using blockchain technology to general devices, identity protection, and authentication areas.

K-sign's DB encryption product has generated stable sales through continuous supply and maintenance since being selected as a Samsung standard product in 2010. It has also achieved significant results in the financial sector, including Hyundai Marine & Fire Insurance, MG Saemaeul Geumgo, Suhyup Bank, Mirae Asset Securities, KTB Investment & Securities, KDB Life Insurance, Hanwha Life Insurance, Korea Policy Finance Corporation, Lotte Insurance, Samsung Card, and Korea Investment & Securities. K-sign explained in its quarterly report that it monopolizes the largest-scale projects in the encryption market, proving that its technical stability and performance have a comparative advantage over competitors. With the full-scale adoption of cloud service environments using personal information centered on major government agencies, substantial service revenue is also expected.

K-sign is promoting R&D for security authentication systems for AMI power meters and remote metering in collaboration with KEPCO KDN Research Institute, and has pioneered new markets by supplying and building chip authentication systems to Samsung Electronics annually since 2012. In the integrated authentication field, it secured CC (Common Criteria) certification in 2019 and plans to export overseas, including to domestic government agencies.