Global Economic | Woori Card’s ‘Card Classics’ Series Surpasses 4 Million Accounts
Global Economic reported that Woori Card's flagship 'Card Classics' series surpassed 4 million issued accounts 16 months after launch.
View full text
Woori Card announced on the 1st that its flagship 'Card Classics' series had surpassed 4 million accounts as of July 31.
Starting with the launch of 'Card Classics POINT' in April last year, the series achieved the remarkable feat of surpassing 4 million accounts in a short 16 months, establishing itself as the dominant force in the card market. This is the fastest record achieved by a single product series, with issuance of over 250,000 accounts per month continuing steadily without interruption.
The success of 'Card Classics' was driven by actively reflecting customers' rapidly and diversely changing needs in its product services, focusing on tangible benefits customers could directly feel, and adding simple payment services in step with changing payment market trends.
Design differentiation also stands out. Using the work of Korean painter Kim Hyun Jung, the cards drew much praise for embroidering an elegant, classical Korean beauty into a sensuous, sophisticated aesthetic.
So far, 11 credit card products including 'Card Classics POINT' and 7 check card products including 'Card Classics SSO3 Check' have been released, building a multi-layered lineup with credit cards specialized by benefit type and check cards differentiated by age group.
The 'Card Classics' effect was clearly reflected in business performance. Woori Card achieved its highest net profit since spinning off, at 126.5 billion won last year, and continues to perform well this year with 66.5 billion won in net profit in the first half despite reduced merchant fees. Active members increased by 650,000 year on year.
A Woori Card official said, "The success of 'Card Classics' was built on President Jung Won-jae's consistent marketing philosophy that 'we should not make products to be sold through branding, but products that sell themselves,'" adding, "With the goal of being 'the first card in the customer's wallet,' we are confident of reaching 5 million accounts within the year."