Nanobrick Makes Full-Scale Entry into Middle Eastern Authenticity Market
Published2016.09.22 17:20An anti-counterfeiting solution born from purely domestic venture technology is making a full-scale entry into the genuine product authentication market in the Middle East.
Nano Brick Co., Ltd. (CEO: Jaehyun Ju), a company specializing in nano new materials, announced on the 22nd that it has entered into a strategic partnership with MTE Expert General Trading LLC, a global marketing company in the United Arab Emirates (UAE), and signed an export contract to supply anti-counterfeiting labels worth 1 billion won as a first step.
MTE Expert is a company that imports and distributes global new IT technology products, with its headquarters in Cairo, Egypt, and a branch office in Dubai, United Arab Emirates, respectively. M-Tag is initially planned to be applied as an authenticity certification label to products imported and distributed by this company, and in the future, the company plans to expand its market to the six Gulf Cooperation Council (GCC) countries—the United Arab Emirates, Saudi Arabia, Kuwait, Qatar, Oman, and Bahrain—as well as to the African region, and to promote its application as a security material to online and offline shopping malls, national banks, and public institutions' accredited certificates.
"Due to the Korean Wave sweeping through the Middle East, interest in Korean products—which boast excellent design and technology as well as Korean culture—is rapidly increasing," said Mohamed Taha, CEO of MTE Expert. "While reviewing anti-counterfeiting solutions that are impossible to replicate to protect the authenticity of imported brands, we decided to adopt Nanobrick's M-Tag, which has been highly recognized for its technological capabilities by various countries and organizations overseas."
"A Nanobrick official stated, 'We have opened the door to our first exports to the Middle East by signing an M-Tag contract with a global company operating in the Middle East, which is being hailed as a blue ocean for the Korean Wave market.' He added, 'Taking this export contract as an opportunity, we will further explore export channels so that our anti-counterfeiting technology, born from pure domestic venture technology, can be expanded for authenticating Halal products and imported products in the Middle East.'"
First, Nanobrick will participate in the Gulf Information Technology Exhibition 2016 (GITEX), considered one of the world's top three IT exhibitions, this coming October in partnership with MTE Expert to introduce M-Tag to the global security IT market. GITEX is recognized as the premier platform for entering the Middle East and Africa markets.
Meanwhile, M-Tag is an anti-counterfeiting solution that utilizes a new nanomaterial that changes color depending on the strength of a magnetic field. Equipped with high security using proprietary source materials and distribution management functions incorporating IT technology, it is receiving significant attention from domestic and international companies that have suffered damages from counterfeit goods. Recognizing M-Tag's advanced technology, Nanobrick was registered as the only official member from the domestic anti-counterfeiting industry in the International Anti-Counterfeiting Coalition (IACC), from which even Alibaba was expelled. Furthermore, at the 2016 Asia-Europe Summit (ASEM), it was adopted as the genuine product authentication 'ASEM-Tag,' protecting the safety of leaders from 53 countries.
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