Seoul Semiconductor recently announced that it reached an agreement with M-Vision, an industrial optical component developer, for licensing patents related to portable fluorescent forgery detectors. The technology was jointly developed by a subsidiary of Seoul Semiconductor (Seoul Optodevice) and Korea Minting & Security Printing Corporation (KOMSCO). With the licensing contract, Seoul Optodevice will receive licensing royalties from M-Vision, as a part of sales of devices adopting its technologies.
The portable fluorescent forgery detector is widely used for identifying forgery of bank notes, securities, passports, gift coupons, and ID cards by commercial banks and financial companies, as well as transportation companies, self-employed firms, and small businesses that mainly transact securities. The demand for these devices is expected to significantly increase as counterfeit money raises issues around the world, said Seoul Semiconductor.