[News Article] Toss, HYBE team up to develop facial recognition system to stop ticket scalping
Toss, HYBE team up
to develop facial recognition system to stop ticket scalping By
Lee Yeon-woo, The Korea Times - Korea's leading fintech firm and entertainment
company plan to implement a system to prevent ticket scalping by allowing K-pop
fans to use facial recognition as their ticket, letting them simply walk past a
camera at concerts. Fintech
firm Toss teamed up with K-pop entertainment company HYBE and ticket platform
InterparkTriple to develop a solution aimed at combating ticket scalping, a
persistent issue that is seen as impeding the growth of K-pop, the companies
announced, Tuesday. The
heads of the three firms signed an MOU on Monday to prevent illegal ticket
trading and promote a more equitable ticketing system. This marks the first
time that companies from different industries joined forces to tackle these
unfair practices. Their
key concept is to use facial recognition for identity verification both during
the ticket purchase process and when entering concert venues. Toss,
responsible for developing and managing the facial recognition system, stated
that the use of automated software for ticket purchases will be significantly
reduced with this technology, effectively eliminating the possibility of ticket
scalping. Furthermore,
procedures like ID checks will be streamlined because attendees will only need
to walk past a camera to enter a performance venue. This
cross-industry collaboration comes in response to the growing prevalence of
ticket scalping, which has been affecting a wide range of events, from K-pop
concerts to professional baseball games. When
trot star Lim Young-woong held a concert in 2023, tickets were
illegally sold online for 5 million won ($3,650), despite the regular price
being 187,000 won. The
number of ticket scalping reports submitted to the Korea Creative Content
Agency surged from 359 cases in 2020 to 2,161 cases in 2023. In
response, the government enacted a new law in March stipulating that
individuals who sell tickets obtained through the use of automated software at
inflated prices face a prison sentence of up to one year or a fine of up to 10
million won. The
entertainment industry also introduced measures such as a secret inspector
system and mandatory cancellations of illegally traded tickets. Despite
these measures, concerns have been raised that the penalties for scalpers are
too lenient and that the methods for proving the use of automated software are
unclear, rendering the measures ineffective. Technical
solutions are emerging as a potential answer. In
February, singer Jang Beom-june issued his concert tickets as non-fungible
tokens (NFTs) in collaboration with Hyundai Card. "The
IT industry, including ticket reservation platforms, should work on technical
solutions to block bulk purchasing through macro programs. At the same time,
the government needs to develop concrete measures, including investing in
technology to prevent the use of illegal macro programs," the National
Assembly Research Service noted in a report published in November 2023. Source: https://www.koreatimes.co.kr/www/biz/2024/08/126_380501.html
2024.08.16