Home > Business > Industry

HYBE to create facial recognition technology to curb ticket scalping

Published: 14 Aug. 2024, 18:29

LEE JAE-LIM
[email protected]

From left, Viva Republica CEO Lee Seung-gun, InterParkTriple CEO Choi Hwi-young and HYBE’s Chief Operating Officer Kim Tae-ho at the signing ceremony in Gangnam District, southern Seoul on Monday. [HYBE]

HYBE partnered with the internet bank Toss and concert ticket provider InterparkTriple to develop facial recognition technology to curb ticket scalping, a malpractice still very much prevalent in the K-pop scene.

HYBE plans to utilize Toss’s facial recognition technology as an authentication tool to verify a ticket purchaser's preregistered identity during venue entry to prevent illegal ticket transactions.

InterparkTriple will be the operator behind the new ticketing service.

The schedule for the release of the new service was not outlined in a statement from the companies on Tuesday.

HYBE’s Chief Operating Officer Kim Tae-ho, InterParkTriple CEO Choi Hwi-young and Lee Seung-gun, CEO of Toss operator Viva Republica, attended the signing ceremony for the memorandum of understanding at Toss’s headquarters in Gangnam District, southern Seoul, on Monday.

“We hope that the introduction of facial recognition technology will significantly reduce the procedure and time required for identity verification and address issues related to illegal ticket sales and distribution,” Kim said. “We will continue to consider the convenience of concertgoers and strive to create an environment where fans worldwide can enjoy performances.”

Lee stressed the significance of the partnership which “gathered sectors from entertainment, fintech and ticket platforms together for the first time” to address the social issue of scalping.

Choi commented that the solution will become a “gamechanger” to promote a healthy concert culture.

BY LEE JAE-LIM [[email protected]]