The new premises are already fully operational and will be located in Seoul’s Pangyo Techno Valley Work&All.
FacePhi goes a step further in its strategy of internationalization and commercial development. The Spanish company based in Alicante has decided to make the leap to the Asian market with the creation of its first subsidiary company in the city of Pangyo, known as the “Silicon Valley of South Korea”, very close to Seoul, aimed at implementing its business model based on biometrics recognition technology in the Asia-Pacific region, and establishing new business partnerships in the countries in both areas.
This branch, named FacePhi APAC, will start operating in June from its premises located in Pangyo’s Work&All, a space within one of the most important business centers of the Korean capital. The Korean delegation will be led by CEO Dongpyo Hong, who has a wide experience in the fintech field, as well as in biometrics and security consulting services.
In this sense, FacePhi CEO, Javier Mira, has stressed that “our subsidiary creation will accelerate the implementation of our technology in the Asia-Pacific region. So far, we had representatives marketing our technological product in this area, but the incorporation of this branch will allow us to go further and settle strongly in these markets that hide a great potential at company and user level”, specifies Mira.
Dongpyo Hong is founder and CEO of Global PD since 2016. His professional career has led him to several positions of responsibility, including board of directors in FIDO Alliance since 2013. He has also held other positions in American, Korean and Japanese companies, such as Samsung R&D Institute Japan, CrucialTec USA, Gerson Lehrman Group, and Renault Samsung Motors, among others.
Hong has set up a team of Korean specialists who will be responsible for marketing and implementing the biometrics technology, created in Spain, from the new premises in Seoul. Thanks to this operation, FacePhi turns its expansion strategy into the Asian market after consolidating its presence in more than 10 countries in Latin America with organizations from Argentina, Mexico, Uruguay, Guatemala, etc.
Regarding the expansion strategy, the executive pointed out that “although we are now focusing in the Asian market, we will continue with our growth strategy in the Latin American market, since nowadays it is a crucial market within our business plan where we can find new business opportunities.”
