BizTribune | Woori Card’s ‘Card Basics’ Surpasses 3 Million Accounts, Fastest in Industry

[BizTribune = Reporter Kim Hyun-kyung] Woori Card (CEO Jeong Won-jae) announced on the 29th that its flagship 'Card Basics' series had surpassed 3 million accounts in under a year since launch.

After the first product, 'Card Basics POINT,' launched in April of last year, it surprised the market by surpassing 2 million accounts eight and a half months later in December. Again in under a year, it surpassed 3 million accounts this month, which corresponds to the fastest time ever recorded by a single product series in the industry.

The success of 'Card Basics' can be attributed to the way CEO Jeong Won-jae's consistently emphasized management principles of a 'customer-centered mindset' and 'detail-oriented management' were woven directly into the product and brand.

Big data analysis and consumer research were used to remove the inconveniences customers face in their card life. Rather than competing on the number of services offered, it came with simple but solid discount and point-accumulation benefits as standard, and reflecting changing payment trends, additional benefits were granted when using simple payment services, enhancing convenience and making rewards easier to feel.

Care was also taken with the design. It caught attention with a sensuous design embroidered with Korean beauty, drawing on the works of Korean painter Kim Hyun Jung.

An 'ㄱ'-shaped notch was added to the upper right of the card plate to improve usability, and details such as varying the coloring on parts of the surface and arranging the product name vertically were carefully considered, raising the level of finish to that of a 'work of art.' These efforts led to a design patent last October, once again proving its excellence.

Marketing and branding also saw fresh attempts unlike before. Through a design collaboration exhibition with artist Kim Hyun Jung held last April, an occasion was created to introduce the new product, and differentiated communication was showcased, including advertising made using the 'Artvertising' technique with the artist's work.

At the end of last year, the web drama 'Work&Love Balance' was released, and it has since gone viral, recording more than 3.7 million cumulative views and helping to raise the value of the Card Basics brand.

This March, the lineup was completed across life stages by adding the Card Basics Premium product for customers in their 40s and above to the existing check card lineup of Kream (teens), Cookie (20s), and Sosam (30s–40s). By placing the Card Basics series products, each offering industry-leading points and discount benefits for their respective age groups, together in a three-dimensional rather than a single-track lineup, customer choice was broadened.

This allows customers to easily choose products suited to their lifestyle and spending patterns and to enjoy the benefits they need more conveniently and more generously, and is also expected to contribute to synergy across group affiliates by enabling consulting alongside recommendations for the various life-stage financial products sold at Woori Bank, so the momentum is expected to continue.

To mark the first anniversary of Card Basics' launch and its 3-million-account milestone, a new product, 'Card Basics WOWRI,' will launch on the 1st of next month. As a single product series that achieved 3 million accounts in the fastest time in the industry, an astonishing feat, the product was named 'Card Basics WOWRI' by adding the words 'wow' and 'we' (uri).

The product's main benefits are the same as 'Card Basics POINT,' which specializes in point accumulation. It offers 0.8% accumulation on spending at all merchants, one of the industry's highest rates, and 5.0–1.0% accumulation at special categories customers frequently use. Compared to previously launched products, it strengthens accumulation benefits for duty-free purchases.

Furthermore, the design of this product is also bold. Based on painter Kim Hyun Jung's design, it makes use of basic geometric elements layered with the varied hues of obangsaek, the traditional five cardinal colors. Through this, it expresses the harmony of yin-yang and the five elements, achieving a unique aesthetic entirely different from existing products.

A customer appreciation event has also been prepared to mark the 3-million-account achievement and to thank customers for their support. For the month of April, all Woori Card users will receive one sweepstakes entry for every 100,000 won spent, and through a drawing, prizes will be given to a total of 300 people, including a 3-million-won travel voucher (1 winner), Samsung foldable phones (3 winners), BALMUDA The Pure air purifiers (15 winners), and 10,000 Woori Card points (281 winners).

A Woori Card representative said, "This meaningful achievement was made possible thanks to the customers who have loved Card Basics, as well as our staff at Woori Bank and out in the field," adding, "Going forward, we will continue to think about how to provide customized services that reflect customer needs, while striving for sophisticated branding with a youthful sensibility."

Written by — Reporter Kim Hyeon-gyeong