Solicore has announced a partnership
with BlueChip ENP Co., LTD for the distribution of their ultra-thin
FlexionÃÂ® batteries in Korea. This agreement marks an effort by a number
of Korean companies to comply with a mandate by the Korean FSA to
increase the level of security for banking and financial transactions by
adding multi-factor identity authentication applications to bankcards.
Solicore is uniquely positioned to arm financial card companies with the
crucial component they need to comply with this mandate by powering the
OTP applications with their less than half a millimeter thick Flexion
batteries. As a distributor of microcrystal clocks for OTP card
applications, BlueChip’s established network of relationships with key
manufacturers and distributors in the rapidly expanding Korean market
provides Solicore with invaluable leverage to strengthen their presence
in the area.
“We have experienced an overwhelming wave of demand by Korean companies
looking to incorporate Flexion batteries into their security
applications to meet the FSA mandate,” says Solicore CEO David Corey.
“Given the sheer volume of demand, as well as the idiosyncrasies and the
nuances of dealing with international markets, an alliance with a local
company was necessary for successful distribution of our product. As a
Korean based company, BlueChip’s extensive knowledge of vertical markets
domestically makes them an ideal partner to eliminate the typical
challenges of doing business in the region.”
BlueChip approached Solicore after conducting a detailed analysis of
what their Korean partners needed and where opportunities for growth
existed. Flexion batteries’ unique ultra-thin design and flexibility
make them a highly desirable match for companies looking to create a
secure bankcard with the same size and shape as the credit and debit
cards with which their customers are already familiar.
“Many of our customers design both event and time based OTP card
applications, and our goal is to provide them with the best solutions to
develop the most competitive products,” says Young-Joo Kim, Director of
BlueChip. “Flexion batteries are the first and best power solution
available for our customers.”
Since entering into their distribution agreement with Solicore, BlueChip
has already secured two purchase orders for platforms using Flexion
batteries scheduled to be deployed in the first quarter of 2008.
About Solicore, Inc. -ÂÂ Solicore is a worldwide leader of embedded power
solutions, offering its FlexionÃÂ® product portfolio of advanced
ultra-thin flexible lithium polymer batteries for powered cards, RFID
and micro medical devices. Solicore’s advanced battery technology is
ultra-thin, flexible, safe and environmentally friendly, and
significantly enhances the capabilities of lithium-based batteries.
About BlueChip ENP Co., Ltd. -ÂÂ BlueChip ENP Co., Ltd. is a Korea-based
electronic components distributor. Their product line features elements
that enable Korean customers to manufacture powered cards and RFID
solutions with Microcrystal’s ultra thin 32.768 kHz crystal plus RTC IC,
Sipix Technology’s black film e-paper and Solicore’s thin film Flexion