Metro Newspaper | Woori Card’s ‘Card Classics’ Confirmed as Leading Card with 4 Million Accounts
Metro Newspaper reported that Woori Card's flagship 'Card Classics' series surpassed 4 million issued accounts on August 1, 2019, 16 months after launch. The distinctive design using Korean painter Kim Hyun Jung's work drew praise, and Woori Card said reaching 5 million accounts is its goal for the year.
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Woori Card announced on the 1st that its flagship 'Card Classics' series had surpassed 4 million accounts as of July 31.
Woori Card achieved the remarkable feat of surpassing 4 million accounts in a short 16 months, starting with the launch of 'Card Classics POINT' in April last year, 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 trends in the payment market.
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, Woori Card has released 11 credit card products including 'Card Classics Point' and 7 check card products including 'Card Classics SSO3 Check,' building a multi-layered lineup with credit cards specialized by benefit type and check cards differentiated by age group, widening customer choice.
The effect of Card Classics 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. In particular, the number of active members increased by 650,000 year on year, earning recognition that Woori Card has gained a new level of competitiveness through Card Classics.
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." Meanwhile, Woori Card plans to hold various thank-you events, including merchant discount promotions and abundant giveaways, to mark the occasion.
Reporter Hong Min-young (hong93@)