Raon Whitehat Signs Agreement with Military Mutual Aid Association and Financial Sector for Development of Non-Face-to-Face Services

[Asia Economy Reporter Kang Nahum] Raon Secure's subsidiary Raon Whitehat announced on the 1st that it has signed a business agreement with the Military Mutual Aid Association C&C, KB Kookmin Bank, IBK Industrial Bank, and Korea Financial Telecommunications & Clearings Institute to develop and expand non-face-to-face services.

Through this agreement, these institutions and companies will develop identity verification and qualification certification for Military Mutual Aid Association members, military officers, and mandatory service personnel using blockchain-based decentralized identity (DID) technology, and apply DID technology to various administrative, financial, convenience, and preferential services.

Raon Whitehat provides a system for applying, issuing, and verifying identity verification and qualification certification based on DID through ‘OmniOne’. DID based on OmniOne applies blockchain technology, making data tampering impossible, and enables ‘Self-Sovereign Identity (SSI)’ where individuals directly manage their own identity information and qualification certifications.

The participating companies agreed to first apply blockchain DID-based identity verification and qualification certification to the ‘Soldier Tomorrow Preparation Savings’ subscription for active-duty soldiers and full-time reservists.

Accordingly, starting in June, active-duty soldiers and full-time reservists who wish to subscribe to the Soldier Tomorrow Preparation Savings at KB Kookmin Bank and IBK Industrial Bank through the Military Mutual Aid Association C&C’s Nara Sarang Portal can submit their savings subscription eligibility certificate and ID issued based on blockchain DID online without the need to visit the bank in person, and subscribe to financial products non-face-to-face.

Additionally, the participating companies plan to continuously expand the types and scope of non-face-to-face financial services for Military Mutual Aid Association members and military officers, such as non-face-to-face account opening, loans, and card issuance, through mutual cooperation.

Lee Jung-ah, CEO of Raon Whitehat, said, "We will strengthen partnerships with various institutions and companies so that more users can enjoy the benefits of a convenient and secure next-generation identity verification system based on ‘OmniOne’, and continuously discover non-face-to-face services."