The Korea Minting, Security Printing & ID Card Operating Corp. (KOMSCO) will export a large quantity of IC chips for use in national identity (NID) cards to Iran after years of consistent marketing and technological innovation.
KOMSCO signed a contract with an Iranian electronic passport and electronic ID cards company to supply 5 million IC chips for electronic residence registration on December 13, 2017. This is the corporation’s second electronic chips exports to Central Asia following the first IC chips shipment in 2016.
The export deal was made possible since KOMSCO’s R&D institute developed “customized technology” in partnership with SME Networks, a Korean security & mobile solution provider, said KOMSCO in a statement. “Efforts to clinch the deal have been ongoing for more than five years,” the company said.
The chipsets being shipped to Iran is used for Iran’s national ID card loaded with ‘JK21,’ a Chip Operating System (COS) developed by COMSCO. The COS is an embedded software (operating system) that controls and manages IC chips embedded in smart cards, such as ID, financial, transport and communication cards, while providing high-level security and credibility by preventing forgery and corruption of key data. The IC chip, a core component of smart cards, stores and processes information and has a built-in security processor to prevent information leakage.
KOMSCO will complete the export of 5 million chips by the end of 2018. The corporation expects that additional exports will be made in view of the features of the national identity card which calls for business continuity.
COMSCO has supplied 3 million electronic ID cards to Central Asian countries as of the end of October 2017. The company’s chipset business will likely grow more than double in 2018 as a result of the successful export of chips to Iran.
What is more, KOMSCO is actively exploring overseas markets to achieve its vision of becoming the world's fifth-largest minting and security company.
Currently, the company exports a wide variety of products, including IC chipset for electronic residence cards and electronic passports, banknotes, banknote paper (special security paper), coins, cotton pulp which is the ingredient of banknote paper, commemorative medals and coins and special security.
The company is expanding its exports to Southeast Asia including the Philippines, European countries like Italy and Switzerland, the Middle Asia and Africa as well as Central Asia, in cooperation with global corporations.
KOMSCO President and CEO Kim Hwa-dong said the technological superiority of his company was proven globally by the successful export of its IC chipsets for Iranian ID cards. “We will continue to explore overseas ID markets including medical insurance cards, electronic driver's licenses and automobile registration cards,” he said.
“Based on anti-counterfeiting technology in the fields of Currency, NID, Security product, quality certification of gold-bar, KOMSCO has continuously expanded market domestically and overseas,” said CEO Kim. “With the pride of contributing to Korea's economic development and happiness of the people, KOMSCO have made all efforts,” he added. “The products we make are not simple ones but the products embedded with Korea culture and our pride. These products have currently been exported to more than 40 countries. With this great performance, KOMSCO has steadily improved 'KOMSCO Status' in the international community,” he added.
Kim Jung-mi email@example.com
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