Veridos and OSD awarded for biometric passport work, KOMSCO finds profits in digital ID

In South Korea, KOMSCO has reinvented itself, moving to find new profitability in mobile IDs. In Georgia, a unified ePassport and ID card program has earned international recognition for Veridos while Liechtenstein has launched a new biometric ePassport that won awards for the Austrian State Printing Company (OSD).

State-run Korean ID printing corp. finds profits from digital ID

The Korea Minting, Security Printing & ID Card Operating Corporation (KOMSCO) is enjoying a return to profit. A venerable company, in terms of modern Korean history, it’s a seismic shift for the state-run currency manufacturer.

Founded in 1951 to produce banknotes and coins for the Bank of Korea, KOMSCO long relied on currency manufacturing as its core business. But as South Korea is increasingly a cashless society, demand for physical money has steadily declined.

The downturn resulted in a significant operating loss in 2020, which was the company’s first in 22 years. In response, KOMSCO declared an emergency management regime and began diversifying, according to a story from Chosun Biz.

The biggest breakthrough came with the launch of its mobile ID business, which allows citizens to store and use six types of identification — including resident registration cards and driver’s licenses — via a smartphone app.

Backed by 74.5 billion South Korean won (US$51.66m) in government funding over five years, KOMSCO was designated South Korea’s official “mobile ID specialist agency” in 2021.The corporation also tapped its expertise in anti-counterfeiting technology to localize and export specialty security inks. These are now shipped to Switzerland, Canada and Uzbekistan.

Exports rose from 4 billion won ($2.77m) in 2021 to 13 billion won ($9m) last year. These, along with merchandising ventures, have transformed KOMSCO’s revenue profile. In 2023, the company posted record earnings of 639.5 billion won ($443m) in revenue and 18.7 billion won ($12.97m) in operating profit, with non-currency businesses accounting for 88 percent of total revenue.

“Our goal is to become a leader in the minting industry that goes beyond a simple currency manufacturing and combines ICT, fintech, and the cultural industry,” said KOMSCO president Seong Chang-hun. “We will expand our business scope to digital IDs, cultural content, and stablecoins to create new growth engines.”

Georgia takes award for passport, ID card by Veridos

At the High Security Printing (HSP) EMEA Conference in Rabat, Morocco, Georgia received the “Regional ID Document of the Year Award” in the Best ID Document Series category for its ePassport and national ID card, both produced by Veridos.

The annual HSP awards recognize technical achievement in secure identification and travel document programs. Georgia’s new document family was developed in cooperation with the Public Service Development Agency under the Ministry of Justice, with design input from local artist Nino (Nitta) Gongadze.

The project consolidates six passport types and four identity cards into a unified design. Security features include customized paper with national watermarks, intaglio printing, optically variable inks, and a polycarbonate data page with multiple visible and hidden elements. Additional layered features, such as ultraviolet-only imagery, are intended to strengthen protection against forgery.

Issuance began in late 2025, with passports rolled out in October and ID cards distributed from December. The program covers system infrastructure, personalization sites, and long-term service arrangements, with millions of documents expected to be issued over the next decade.

Liechtenstein awarded best new passport 2026

Liechtenstein has introduced a new biometric e‑passport. The principality officially launched the e-passport on February 3. 

The document integrates security technologies designed to strengthen protection against forgery, misuse and identity fraud.

The passport was produced by the Austrian State Printing Company (OSD) following an international tender. The design incorporates polycarbonate data pages with embedded UV imagery, embossing, transparent windows and microtext.

A repeated facial image appears both in full color and as a letter‑screen rendering composed of personal data. Cross‑page motifs and transparent elements further complicate counterfeiting attempts.

Selected through a 2023 public competition, the inner pages feature illustrations of all municipalities, blending cultural motifs with advanced security. Functional updates include replacing the “Size” entry with “Place of birth,” aligning the passport with European standards and interoperability requirements.

Citizens can apply for the new document at the Migration and Passport Office in Vaduz, with existing passports remaining valid until expiry. Diplomatic, service, foreigner, and refugee travel documents have also been updated.

The rollout has already attracted international recognition. At the HSP EMEA Conference, the new passport was awarded Best New Passport 2026.

Article Topics

Austrian State Printing House (OSD)  |  biometric passport  |  identity document  |  KOMSCO  |  Veridos