EBN | Woori Card’s ‘Card-ui-Jeongseok’ Surges — 300,000 Issued in Two Months

Industry-leading benefits and Korean beauty capture the market

"A card even more beautiful in person" — Rich lineup of launch events underway

(Photo: Woori Card announced on the 31st that its flagship product 'Card-ui-Jeongseok POINT' has surpassed 300,000 cards issued in the two months since launch amid explosive popularity. ⓒWoori Card)

Woori Card announced on the 31st that its flagship product 'Card-ui-Jeongseok POINT' has surpassed 300,000 cards issued in the two months since launch amid explosive popularity.

Woori Card launched the new product Card-ui-Jeongseok POINT, combining strong point-accrual benefits with artistic design, on the 2nd of last month. Even before launch, it drew explosive customer interest, raising expectations for commercial success.

Since launch, driven by enthusiastic response from Woori Bank's transacting customers, the card has shown a record-breaking issuance pace compared to typical general-purpose cards. It surpassed 100,000 cards in three weeks and 300,000 in two months, continuing its strong popularity.

The first secret to the card's popularity is its exceptional point-accrual benefits. Card-ui-Jeongseok POINT provides a base accrual rate of 0.8%, the highest in the industry, across all categories. There is no cap on accrual once the customer's spending in the previous month reaches 300,000 won.

Categories customers frequently use carry even greater benefits. Based on big-data analysis, up to 5% is accrued in ten special daily-life categories — 5% for mobile telecom, public transit, and EV charging; 3% for coffee and movies; and 1% for department stores, large discount stores, online shopping, fuel, and overseas spending.

Benefits were also built in for customers who use simple-payment services. Registering the card with any of the four major simple-payment services and paying with it earns an additional 3% accrual, on top of whatever benefits each simple-payment service itself provides, making it very useful for customers who prefer simple payments.

The artistic product design also played a solid role in the runaway popularity. By applying Korean painter Kim Hyun Jung's work 'Excess is No Better Than Deficiency' to the card plate design, the industry's first card to carry Korean beauty in this way satisfied customers who value a card's visual and emotional appeal. Customers who have received the card have widely praised it on social media as 'a card that's even prettier in person.'

Woori Card is running a rich and varied array of launch events for its customers. Through the end of June, benefits include double card-point accrual for customers who pay with the four major simple-payment services (Naver Pay, Kakao Pay, Payco, SSG Pay), 2–3 months of interest-free installments at all affiliated merchants, and special airfare promotions.

An 'annual fee cashback event' is also available for customers who apply online.

Customers who apply for Card-ui-Jeongseok POINT or Card-ui-Jeongseok POINT Check online through the end of June and spend at least 100,000 won by the end of the month following the month of issuance can receive cashback of up to 100% of the annual fee for Card-ui-Jeongseok POINT, and up to 5,000 won for Card-ui-Jeongseok POINT Check.

The annual fee is 12,000 won for the dual domestic/overseas version and 10,000 won for the domestic-only version. Cards can be applied for at any Woori Bank branch nationwide, on the Woori Card website or mobile app, or through the call center.

A Woori Card representative said, "We are grateful for the enthusiastic response our customers have shown Card-ui-Jeongseok POINT," and added, "Next month we plan to unveil the discount-type and shopping-type versions of Card-ui-Jeongseok, featuring some of the best benefits in the industry."

Full details on the products and ongoing events can be found on the Woori Card website and mobile app.

Written by — Reporter Lee Song-ryeol