IDP, a global Small but Powerful Giant that exports card printers to 58 nations

Plans on reaching 10% in the global market share through endless product development

IDP printer collection/ Photo Provided by IDP

IDP S51printer/Photo Provided by IDP

IDP is a global Small but Powerful Giant that created the nation’s first card printer. IDP’s card printers not only print color and black and white on PVC cards, but also specializes in encoding personal information on magnetic strips, IC, and RF. This is why IDP’s products are widely used in entry cards for high security government and corporate facilities, digital personal identification such as ID cards, and financial cards for banks.

IDP was established in December 2005, and released their first card printer, the ’Smart-50 Series’ in 2007. The corporation has an endless supply of new products such as the SMART-70 Series and SMART-70X Lazer Card Printer, and focuses on R&D to the point where 43% of the workers are involved in research development. Along with the card printers, IDP also created a product line-up including a ribbon shredder that safely destroys personal information. The company offers a perfect solution for issuing cards. Their card printers account for over 40% of the overall profit, and serves as a stable foundation for growth.

CEO Roh Hyun-chul (Brian Roh), the creator of IDP stated that “In order to fit the needs of the rapidly changing market, we invested heavily in research development from the very beginning, and tried to create a competitive edge through continuous new products.” As a result, the company holds over 18 domestic patents and 2 foreign patents, including the Instant Direct Heating Mechanism that laminates film to increase card durability. The Instant Direct Heating Mechanism was also chosen as a 2016 ‘Green Certified Technology’ due to is time, energy, and heating efficiency. The corporation currently distributes card printers to 27 domestic driver’s license testing centers and is exporting products to 58 different countries including the United States, China, Japan, and Tunisia. Their success was recognized and IDP received the 2019 global Small but Powerful Giant title from the Ministry of SMEs and Startups.

CEO Roh Hyun-chul (Brian Roh), the creator of IDP stated

Q. How big is IDP’s exports?
A. Over 85% of our overall profits come from foreign markets. We currently export to 58 nations. IDP also has local head quarters in Rhode Island, Tokyo, and Dubai. The United States office takes care of North and South America, the Japan office looks over Japan, the Dubai office is in charge of the Middle East and Africa, and the Seoul HQ is in charge of Europe and South East Asian countries. The American office for example, was established in 2013 and is 100% made up of local workers. The corporation boasts a rapid increase of US market share, with a 20% annual increase in growth. Our customer loyalty has been increasing through our specialized products made for protecting national distribution channels.

Q. What are some of the changes after receiving the global Small but Powerful Giant title?
A. We participate in around 20 foreign expositions yearly. Through the support of the global Small but Powerful Giant, IDP was able to increase recognition and create a better expo booth. We were also able to participate in a government project, and created a re-transcribing printer that we plan on launching in the beginning of 2021.

Q. What are your visions for the domestic and foreign markets?
A. COVID-19 does not have much of an effect on the card printer industry. We expect the greatest annual profit since our establishment. Although it slightly differs by country, the foreign market is generally in constant demand. Our national government projects are also progressing without problems. No matter what happens the demand for cards will never completely disappear. So, we predict that although there may be temporary economic stagnation, the market itself will not diminish in size.

Q. What are IDP’s future visions and plans?
A. 2021 is an important year where IDP steps into a new market industry. We plan on launching new products such as the re-transcribing printer. We predict that IDP will experience both qualitative and quantitative growth. IDP holds 7.2% of the world card printer market share since 2019. Our goal is to reach five billion won in profits and 10% in market share by 2024. We take pride in the fact we represent Korea in the card printing business. As a Small but Powerful Giant, IDP will try its best to show Korea’s product quality in the world market.

IDP S70 printer

[Editor's Note: Money Today collaborates with the Seoul Business Agency to provide media usage, marketing and consulting to companies in Seoul that show innovative growth and global growth competitiveness.]