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In future applications, e.g., in ultra-flat OLED lamp drivers or flat screen power supplies, ultra-flat ac/dc and dc/dc converter systems are highly demanded. Therefore, the design and implementation of a printed circuit board (PCB)-integrated flyback transformer for a 1-mm-thin single-phase power factor correction rectifier is under investigation. In this paper, first an overview on several integration methods is given. It is shown that the PCB integration of magnetic cores allows us to achieve the required thickness of 1 mm and a high energy density. In a next step, the design and the realization of ultra-flat magnetic components with PCB-integrated cores are discussed in detail. The presented multi-objective design procedure determines the inductor and/or transformer setup optimal with respect to minimal losses and/or minimal footprint area; for this purpose, all required electrical, magnetic, and geometrical parameters of the magnetic component are considered in the design process. Furthermore, all specific implications entailed by the PCB-integrated core, e.g., the core setup, anisotropic core losses, the interleaving of windings, or an accurate reluctance model are treated. Finally, experimental results are used to verify the design procedure.