ISO 3166-2 is the second part of the ISO 3166 standard published by the International Organization for Standardization (ISO). It is a geocode system created for coding the names of country subdivisions and dependent areas. The purpose of the standard is to establish a worldwide series of short abbreviations for places, for use on package labels, containers, and such; anywhere where a short alphanumeric code can serve to clearly indicate a location in a more convenient and less ambiguous form than the full place name. There are around 3700 different codes.
I have a feeling that's not why this chip was made, though [g].