Korea Sports Economy | Woori Card’s ‘Card-ui-Jeongseok’ Surpasses 4 Million Cards… Certified as the Card of the Moment
Korea Sports Economy (Hanscom Economy) reported that Woori Card's flagship 'Card-ui-Jeongseok' series surpassed 4 million cards issued on July 31, 2019, just 16 months after launch. Design differentiation using Korean painter Kim Hyun Jung's work was praised, and Woori Card said it is confident of reaching 5 million cards within the year.
View full text
Woori Card's 'Card-ui-Jeongseok' series surpasses 4 million cards issued. /Photo = Woori Card
[Hanscom Economy = Reporter Lee Seung-hoon] Woori Card announced on the 31st of last month that its flagship 'Card-ui-Jeongseok' series has surpassed 4 million cards issued.
Starting with the launch of 'Card-ui-Jeongseok Point' in April of last year, it achieved the remarkable feat of surpassing 4 million cards in the short span of 16 months, establishing itself as the card of the moment in the market. Even more notable is that this is a record achieved in the shortest time for a single product series, and that the pace of more than 250,000 cards issued per month has continued steadily without faltering.
The success of 'Card-ui-Jeongseok' was driven by actively reflecting customers' rapidly and diversely changing needs in the product and service, focusing on genuinely valuable benefits customers could feel firsthand, and adding simple-payment services in step with changing payment-market trends.
Its design differentiation also stands out. Using the work of Korean painter Kim Hyun Jung, it has won much praise for its stylish, sophisticated beauty embroidered with elegant, classical Korean aesthetics.
To date, the company has released 11 credit card products including 'Card-ui-Jeongseok Point' and 7 check card products including 'Card-ui-Jeongseok SSO3 Check,' building a multidimensional lineup — credit cards specialized by benefit category to match what consumers want, and check cards focused on differentiation by age group — to widen customer choice.
The effect of 'Card-ui-Jeongseok' has been clearly reflected in management performance. Woori Card achieved its best-ever net profit since spinning off, at 126.5 billion won last year, and is sailing smoothly this year as well, posting a net profit of 66.5 billion won in the first half despite the impact of merchant fee cuts. Notably, the number of active members also grew by 650,000 compared to the same period last year, and the company is seen as having achieved a further step up in competitiveness through 'Card-ui-Jeongseok.'
A Woori Card official said, "The success of 'Card-ui-Jeongseok' was grounded in the marketing mindset that President Jeong Won-jae has consistently emphasized — that, based on branding, we should make products that sell themselves rather than products that have to be sold," adding, "With the goal of becoming 'the first card in customers' wallets,' we are confident of reaching 5 million cards within the year."
Meanwhile, Woori Card plans to hold a variety of appreciation events to mark the occasion, including merchant discount events and lavish giveaway promotions.
Reporter Lee Seung-hoon hoon7@sporbiz.co.kr