IOCELL Corporation was established and started developing and manufacturing USB flash drive in 2001. Its head office is located in the Gyeonggi Venture Building in Gyeonggi-Do, Korea.

The companys main product is USB flash drive and its 80 percent of total output is multifunction USB flash drive, in particular, embedded various softwares and unique contents. It is specialized in USB flash drive. Now, they are releasing networkable USB flash drive.

It focuses on developing and manufacturing multifunction USB flash drives for competition against Chinese manufactures with low price, while manufacturing of standalone USB flash drives are produced by orders of buyers. Currently,80 percent of its output is multifunction USB flash drives, and 20 percent is standalone USB flash drives. It expects 100 percent of output will be multifunction USB flash drive at the end of this year.

Its total multifunction USB flash drive production value was $6 million in 2003 and $20 million in 2004 with exports value of $2 million in 2003 and $7 million in 2004. The company expects that production of 2005 will reach $50 million, while export figures are anticipated to increase to $20 million.

Twenty percent of the companys revenues come from its OEM buyers, and 80 percent from own brand sales. Among its major customers are Samsung, LG, Buffalo and Inter-active.