Solicore Alliance With BlueChip Brings Paper-Thin Flexion® Batteries To Korean Bank Cards

January 09, 2008 by Jeff Shepard

Solicore announced a partnership with BlueChip ENP Co., Ltd. for the distribution of their ultra-thin Flexion® 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 claims that it 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, Solicore states that BlueChip’s established network of relationships with key manufacturers and distributors in the rapidly expanding Korean market will 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," said 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."

"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," stated 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.