Companies Ink Agreement to Collaborate in the Biometric National ID Arena
LAS VEGAS, and SEOUL, South Korea, March 5 /PRNewswire-FirstCall/–e-Smart Technologies, Inc. (OTC Pink Sheets: ESMT – News; “e-SMART” or the “Company”) is pleased to announce that it has entered into a “Mutual Cooperation Agreement” with Daewoo International Corporation through its e-Smart Korea, wholly owned subsidiary. Daewoo International, headquartered in Seoul, South Korea, is a leading global corporation specializing in international trade; infrastructure, resource and project development; and information technology solutions. e-Smart is the exclusive supplier for Asia and the USA of the Biometric Verification Security System(TM) (“BVS2(TM)”), featuring the Super Smartcard(TM), which e-Smart believes to be the world’s only commercially available smartcard with a full on-card system for biometric ID verification.
In commenting on this Mutual Cooperation Agreement, Mr. Chang-Rae Kim Executive Vice President of Daewoo International said, “In today’s world of public insecurity and growing identity theft, the need to be sure that a person is who they claim to be while at the same time protecting that person’s privacy and civil rights has become of paramount importance. Since the tragedies of “9/11”, governments around the world have come to realize the importance of identity verification and many are now in the process of taking the first steps towards electronic ID (National ID Card, Resident Card, etc.) and electronic travel documents (passports, visas, etc.). Mr. Kim went onto say, “while some of the technologies being tested and deployed are interesting, apart from the e-Smart product offerings, we have found no other practical technology that could balance the societal need to verify identity and the personal need to protect one’s privacy and personal civil rights. It is for this reason we have entered into this important agreement with the e-Smart group.”
Under the terms of the Agreement, the parties have agreed to work together to identify projects on an international basis within listed countries that capitalize on the unique biometric and other security technologies and systems developed by e-Smart and on Daewoo International’s strength within those countries as a large scale project developer, plant operator and marketing powerhouse. Upon jointly agreeing upon a potential project, a project specific agreement will be entered into on terms to be negotiated on a case by case basis. The parties are already discussing the details of their first potential project.
Ms. Mary Grace, e-Smart’s Chairman and CEO gratefully acknowledged the comments of Mr. Kim and added, “We are extremely gratified by the vote of confidence given to us by Daewoo International by virtue of this Mutual Cooperation Agreement. e-Smart will do everything it can to justify this reliance. We anticipate that our BVS2(TM) and Super Smart Card(TM) products will exceed expectations.” Ms. Grace closed by saying, “We truly look forward to a long, prosperous and close working relationship with our new partner, Daewoo International.”
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