IT security and authentication platform company RaonSecure (CEO Soonhyung Lee, Jeonga Lee), whose largest shareholder is CEO Soonhyung Lee, has taken steps to enhance shareholder value through the acquisition of treasury shares.
RaonSecure announced on the 8th that CEO Soonhyung Lee purchased 55,512 common shares of the company on the market. With this treasury stock purchase, the number of shares held by CEO Soonhyung Lee increased to a total of 9,671,000 shares, including the previously held 9,615,488 shares.
A RaonSecure official stated, “CEO Soonhyung Lee’s acquisition of treasury shares reflects confidence in the company’s future growth with the purpose of enhancing shareholder value and strengthening responsible management,” adding, “Starting with this treasury stock acquisition, we plan to continuously pursue shareholder-friendly policies aimed at enhancing shareholder value and re-evaluating corporate value.”
RaonSecure, established in 2012, is an IT security and authentication platform company that has grown every year since its founding, recording sales exceeding 50 billion KRW for the first time last year.
Based on solid security solution technology, RaonSecure is advancing as a global security and authentication platform service company. Leveraging its proprietary blockchain-based digital ID platform technology, the company has contributed to the implementation of South Korea’s mobile ID system by securing projects for mobile driver’s licenses, mobile national veterans registration cards, and mobile resident registration card issuance systems. Building on its reference for the national mobile ID system in South Korea, RaonSecure is entering the global market, with visible results expected in the second half of this year for national digital ID construction projects in Southeast Asia and Latin America, including Indonesia and Costa Rica.
The company is also actively developing generative AI security technology. Its in-house developed “homomorphic encryption-based AI facial recognition technology” was selected in June for the Ministry of Science and ICT and Korea Internet & Security Agency (KISA)’s “2024 AI Security Prototype Development Support Project.” Additionally, RaonSecure plans to launch in the second half of this year a consumer mobile security application equipped with its proprietary “deepfake detection facial recognition technology” and “AI-generated content detection technology.”
Recently, RaonSecure established RaonMeta, an AI and metaverse platform specialist company advocating a “practical metaverse.” The domestic-only metaverse-based practical training platform “Metademy” offers an immersive and vivid realistic training environment and supports training using extended reality (XR) devices, which are gaining global attention. This platform has versatility that allows it to be applied not only domestically but also internationally.
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