Korea Financial News | Woori Card’s ‘Card Basics’ Surpasses 3 Million Accounts
Korea Financial News reported that Woori Card's flagship 'Card Basics' series surpassed 3 million accounts in under a year since launch. The result was attributed to CEO Jeong Won-jae's management principles of a 'customer-centered mindset' and 'attention to detail,' and the new product 'Card Basics WOWRI' and a customer appreciation event are being carried out to mark the occasion.
View full text
<Korea Financial News = Reporter Lee Bom> Woori Card announced on the 29th that its flagship 'Card Basics' series had surpassed 3 million accounts in under a year since launch.
Woori Card analyzed that the success of 'Card Basics' was influenced by the way CEO Jeong Won-jae's consistently emphasized management principles of a 'customer-centered mindset' and 'attention to detail' were woven directly into the product and brand.
In developing the product, 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. In addition, 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.'
In addition, through a design collaboration exhibition with artist Kim Hyun Jung held in April of last year, Woori Card created an occasion to introduce the new product, and showcased differentiated communication, including advertising made using the 'Artvertising' technique with the artist's work.
To mark the first anniversary of 'Card Basics' launch and its 3-million-account milestone, Woori Card will launch 'Card Basics WOWRI' 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 the existing 'Card Basics POINT.' 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.
Woori Card will also hold an event to mark the 3-million-account achievement. 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."