A bare LSI chip mounted onto a flexible substrate is called chip-on-flex (COF). Companies and universities are desperately developing COF. In this paper, the development of COF using stud bump bonding (SBB) flip-chip technology will be introduced. So far, SBB technology has been adopted when ceramic or glass-epoxy is used as a substrate material for chip size packages (CSPs) and multi-chip modules (MCMs). Recently there is a great demand for developing SBB technology toward a flexible substrate. SBB technology needs to keep a flexible substrate flat during the assembly process. A flexible substrate was adhered to a flat carrier using a thermal release sheet in order to keep it flat. Since this thermal release sheet loses its adhesive strength by applying heat beyond 160°C, it is easy to peel off accomplished specimens from the flat carrier after assembling. SBB specimens were prepared using liquid crystal polymer (LCP) and polyimide (PI) as a flexible substrate. Reliability tests, such as pressure cooker test (PCT), thermal shock test (TST) and reflow soldering after moisture storage test, were carried out for these specimens. In PCT, both LCP and PI specimens passed as a result of using proper underfill for each substrate. In TST, both specimens also passed using the underfill selected in PCT. In reflow soldering after moisture storage test, LCP specimens passed, on the other hand PI specimens needed to be baked after moisture storage in order to pass the reflow.