Smart Economy | Woori Card’s ‘Card Classics’ Series Surpasses 4 Million Accounts.. Confirmed as Leading Card
Smart Economy reported that Woori Card's flagship 'Card Classics' series surpassed 4 million issued accounts on July 31, 2019, 16 months after launch. It reported that the distinctive design using Korean painter Kim Hyun Jung's work drew praise.
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[Smart Economy] 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. Notable points include that this is the fastest record achieved by a single product series, and that issuance of over 250,000 accounts per month continued steadily.
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, widening customer choice.
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, earning recognition that 'Card Classics' has brought Woori Card to a new level of competitiveness.
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.'"
Meanwhile, Woori Card plans to hold various thank-you events, including merchant discount promotions and abundant giveaways, to mark the occasion.
Reporter Lee Dong-wook, dk@dailysmart.co.kr