[Venture Square Interview] Woogyun Lee, “We will target the domestic and overseas markets with smart home face recognition door lock."
The startup I (the writer) met today is CVT, a company that is developing Face Recognition Door Lock. One of the major products of CVT is the face-recognition access control device based on LTE and the next-generation face-recognition access control terminal.
Woogyun Lee, CEO of CVT is a veteran who has had 22 years of deep tech experience in R&D in the same industry. Starting with 7 years of security system development experience at Samsung S1, Lee took charge of development of DVRs, video processing CPUs, and NVRs in many security companies.
You said you’re currently developing face recognition door locks for domestic that are inexpensive. To understand this easily, do you mean that the homeowner can enter (using face recognition door locks) instead of a password or a card key?
"That's right. In addition, the uninvited guests are also restricted. Key, card and password are all items that can be hacked. Face recognition systems can be an alternative to that problem."
When I say that I understand that face recognition door locks are already quite prevalent in the enterprise.
“Many security-sensitive companies are already using it. But the one for domestic is still not widespread now. It’s because of the high price that is burdensome and systemic limitations. So we have focused on this problem."
“The only conclusion is the differentiated technology. I don't intend to compete with China's manufacturing costs. However, if there is a patented technology, It’s able to entrust the production to China and use the technology independently. CVT has its specialized skills in both security software and hardware. CVT achieved good results in image processing CPU and image processing algorithm development (object tracking, video adjustment, de-warping, and rendering) already, and has ability to develop IP camera products including camera design technology. In particular, the camera technology that CVT possesses has been certified by ONVIF (Open Network Video Interface Forum, also means ONVIF’s International Communication Protocol between heterogeneous IP-based devices). Which are korean companies in the same field with CVT?
I will explain it by categorizing three areas. Access control will include Suprema, Union Community, and Five GT, and the unmanned security system(fire&alarm) will include KT TeleCop, Samsung S1, and Bkyung System. Lastly, video security companies include IDIS, HiTron, Icantek, and CNVtech.”
Where is your competitive edge that distinguishes you from other companies?
“It`s a direct and indirect experience I`ve accumulated in security part. This is because I have worked in all parts of the previously mentioned areas of access control, unmanned security system(fire&alarm), and video security for 4 years, 7 years and 15 years each. I regard security as a converged concept, not a segment," Lee replied. Lee also expected that such advantages will come out more specifically in IoT markets in the near future.
Recently, authentication methods using specific body areas such as iris, vein, and fingerprint are frequently introduced. What is the merit of face recognition?
“I want to say first that this is a natural way of authentication. Because the method is natural, the user's psychological burden is less. It is also convenient as physical contact is not necessary. Also, based on choices, the manager can check the face picture that is stored in face log."
Currently, CVT has selected as a occupant company of KT Innovation Center and a incubation company of Gyeonggi-do Creative Economy Innovation Center(Gyeongi CCEI). If it is going to co-operate with KT, I wonder what part of it would you like to collaborate with KT.
“If we are given the opportunity to discuss business with KT in the future, we want to actively develop video security systems based on network and IoT and yield good results. We will strive for Korean companies to obtain the competitive edge in the global IoT security market as well as in Korea," said Lee Woogyun, CEO of CVT.