South Korean electronic ID cards for Iran: Yonhap

By Park Sae-jin Posted : July 7, 2016, 18:31 Updated : July 7, 2016, 18:31

A South Korean identification card solution company said it has bagged a 15 billion won (12.9 million US dollars) deal to supply electronic ID cards to Iran.

SME Networks said it will supply 10 million electronic ID cards to Iran's Security Document Production Center (MATIRAN) within this year.

It will supply 60 million chips for electronic ID cards to the Iranian government in the next five years, a deal worth about $50 million, the Seoul-based company said.

With a population of roughly 80 million people, Iran plans to issue electronic ID cards to 60 million people as part of its mid-term economic development plan.

SME Networks, a small company with eight employees, said it has won the contract with the support of the Korea Trade-Investment Promotion Agency (KOTRA). President Park Geun-hye's visit to Iran, which was aimed at boosting bilateral economic ties, in May also helped boost its chances to compete against other European competitors, it said.

"We had confidence in our technology, but had difficulties in conducting market research and contacting the contractor in the initial stage," Kim Dong-young, CEO of SME Networks, said.

The company expects demand for electronic ID cards will further grow as the Middle Eastern nation has opened up its economy after sanctions were lifted in January.

Established in January 2007, SME Networks has developed electronic ID cards and passports as well as chips and mobile solutions for companies and government organizations.

(Yonhap)
 
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