Monday Newspaper | Woori Card’s ‘Card Classics’ Series Surpasses 4 Million Accounts
Monday Newspaper reported that Woori Card's flagship 'Card Classics' series surpassed 4 million issued accounts on July 31, 2019, 16 months after launch. It reported that the distinctive design using Korean painter Kim Hyun Jung's work had drawn praise.
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[Monday Newspaper, reporter Ko Byung-hoon] Woori Card's (CEO Jung Won-jae) flagship 'Card Classics' series surpassed 4 million accounts on the 31st of last month. This comes 16 months after the launch of 'Card Classics POINT' in April last year, and marks the fastest record achieved by a single product series.
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 payment market trends.
Design differentiation is also cited as a factor in its success. 'Card Classics' drew much praise using the work of Korean painter Kim Hyun Jung for a sensuous, sophisticated beauty embroidered with elegant, classical Korean aesthetics.
Additionally, 11 credit card products including 'Card Classics POINT' and 7 check card products including 'Card Classics SSO3 Check' have been released, building a multi-layered lineup with credit cards specialized by benefit type and check cards focused on differentiation by age group, widening customer choice.
The 'Card Classics' effect was also 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 'Card Classics' has brought Woori Card to a new level of competitiveness.
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."
Reporter Ko Byung-hoon, dnwnqkddj3@naver.com