Dubai First and Korea's GK Power to develop state-of-the-art card solutions

Dubai First and GK Power signed a Memorandum of Understanding (MoU) during Cartes & Identification 2007, the world's leading event for smart card and identification, which was held recently at the Paris-Nord Villepinte Exhibition Centre, in Paris, France.

According to the MoU, signed by Ibrahim Al Ansari, Country Corporate Officer of Dubai First, and Sam Sun Kim, President and CEO of GK Power, both organisations will work together as launch partners to release a new 'limited edition' card concept that will set new benchmarks in card technology.

Ibrahim Al Ansari said:

"The MoU represents a significant leap in terms of innovation and technology in the cards business, which until recently was threatened by a one size fits all marketing approach. This innovation has been made possible by a very high standard of research and development, as well as GK Power's support on the ground."

Sam Sun Kim said: "This partnership represents the best of both cultures - South Korea's creativity, technological strength and solid R&D backup, coupled with the UAE's creativity, vision and innovation in launching breakthrough concepts."

GK Power holds the exclusive patent on 'Gold Card Technology', 'Diamond Card Technology', and 'Implant Card Technology', which have all been incorporated by Dubai First into the Royale MasterCard.

The Royale MasterCard technology was developed by GK Power as a luxury offering for elite clients. As launch customers, Dubai First holds the distinction of being the first finance company worldwide to adopt the Royale MasterCard concept and extend its privileges to its clients. Dubai First was invited to take part in the Paris event by GK Power.

The Royale MasterCard from Dubai First is a new generation card using advanced materials and technology, developed over a two year period. The card, designed by Inno Design, a leading design consultancy with offices in California, Seoul and Beijing, is bordered by an engraved metal frame and embedded with a certified diamond.

Dubai First is a subsidiary of Dubai Financial Group, the financial holding company for Dubai Group.