Financial Today | Woori Card’s ‘Card Principle’ Tops 1 Million Cards in Five Months
Financial Today reported that Woori Card's flagship 'Card Principle' series topped 1 million cards issued five months after launch. The article cited card design drawing on Korean painter Kim Hyun Jung's work as a factor behind its popularity, and ran a photo (courtesy of Woori Card) of CEO Jung Won-jae and artist Kim Hyun Jung (in hanbok) at the ceremony marking the 1-million milestone.
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Woori Card announced on the 30th that its flagship 'Card Principle' series has topped 1 million cards issued five months after launch.
Woori Card introduced four products starting with 'Card Principle POINT' last April, followed by DISCOUNT, SHOPPING and L.POINT, and established itself as a flagship hit product in the market with a record-setting pace — topping 100,000 cards issued within three weeks of launch and reaching 1 million within five months.
The key factors behind the 'Card Principle' series' popularity are cited as ▲ a solid foundation of industry-leading accrual and discounts; ▲ bold extra benefits in categories customers use most often; and ▲ a refined, beautiful card design that fuses art and finance by drawing on Korean beauty.
As the industry's first such approach, the card drew on the work of Korean painter Kim Hyun Jung, who is well loved for grounding her work in Oriental painting while bringing fresh ideas and themes suited to the times, to capture Korean beauty in the design.
The card plate surface is also given a special finish so the artwork appears set in a frame, and a 'ㄱ'-shaped notch is placed at the top right to make it easier to pull the card out of a wallet, in an effort to enhance the customer's brand experience.
The pace of sales continues to accelerate. With various products also planned for launch, including an office-worker-specific card and a mileage-type card, reaching 2 million cards by year-end looks feasible, and since credit cards make up a larger share of issuance than check cards, a positive effect on sales is also expected.
A Woori Card official said, "By cutting unnecessary add-on services and channeling the savings into strengthening core benefits, we preemptively addressed concerns about profitability, and as a result customer satisfaction has risen further, creating a win-win for both the company and our customers."
The same official added, "Despite the challenging environment in the industry recently, we are deeply grateful for the enthusiastic response our customers have shown 'Card Principle,' which has allowed us to achieve such strong results," and "We will continue to repay our customers with good products that reflect their needs and market trends."
Meanwhile, 'Card Principle POINT' offers higher point accrual in 10 categories customers use frequently, and 'Card Principle L.POINT' earns L.POINT rewards just by using Woori Card, with additional accrual when using Lotte affiliates and L.pay.
Also popular are 'Card Principle DISCOUNT,' which offers discounts at all domestic merchants regardless of the previous month's spending, and 'Card Principle SHOPPING,' which combines online and offline shopping discounts on a single card.
Reporter Lee Jin-myung, Financial Today
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