Financial Today | Woori Card’s ‘Card Classics’ Series Surpasses 4 Million Accounts
Financial Today reported that Woori Card's flagship 'Card Classics' series surpassed 4 million accounts on July 31, 2019, just 16 months after launch. The distinctive design featuring Korean painter Kim Hyun Jung's work drew praise, and Woori Card said it is confident of reaching 5 million accounts within 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.
Starting with the launch of 'Card Classics POINT' in April last year, the series achieved the feat of surpassing 4 million accounts in a short 16 months, establishing itself as the dominant force in the card market. Even more notable is that this is the fastest record achieved by a single product series, with a steady pace of over 250,000 accounts issued every month.
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 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, 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 differentiated by age group, widening customer choice.
The 'Card Classics' effect 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. The number of active members also 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,' and that with the goal of being 'the first card in the customer's wallet,' the company is confident of reaching 5 million accounts within the year. Meanwhile, Woori Card plans to hold various thank-you events to mark the occasion, including merchant discount promotions and abundant giveaways.
Financial Today, reporter Lee Jin-myeong