Asia Times | President Jung Won-jae’s Work — a Philosophy of Fundamentals — ‘Card-ui-Jeongseok’
Woori Card President Jung Won-jae's first product since taking office, 'Card-ui-Jeongseok POINT,' surpassed 300,000 cards issued two months after launch, a commercial success. President Jung was personally involved in every stage from product planning to design, and the card plate featured Korean painter Kim Hyun Jung's work 'Excess is No Better Than Deficiency,' which became a talking point on social media.
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President Jung's management philosophy of 'communication and flexibility' woven in
Differentiated design creates a buzz on social media
[Asia Times = Reporter Lee Bo-ra] 'Card-ui-Jeongseok,' the product Woori Card President Jung Won-jae poured his heart into, has succeeded in becoming a hit, delivering a clear result just five months into his tenure.
'Card-ui-Jeongseok POINT' surpassed 100,000 cards issued in three weeks and 300,000 in two months. Compared to the issuance speed of Woori Card's other cards to date, this is the fastest ever.
After taking office, President Jung unveiled 'Card-ui-Jeongseok' as his first product this past March. Planned as a series, following the point-type, discount-type and shopping-type versions are set to launch this month. Currently, three products have been released: 'Card-ui-Jeongseok Point,' 'Card-ui-Jeongseok Point Primary Bank,' and 'Card-ui-Jeongseok Point Check Card.'
(Photo: The 'Card-ui-Jeongseok' series, which President Jung Won-jae was personally involved in from start to finish, has surpassed 300,000 cards issued two months after launch amid a wave of popularity. / Photo courtesy of Woori Card)
President Jung was personally involved in every step of the process to launch Card-ui-Jeongseok, from beginning to end. He was involved not only in product composition but also in naming and design. He personally took part in the big-data analysis as well, focusing on listening to what customers needed.
In his inaugural address, President Jung stressed a mindset of 'communication' — staying true to the fundamentals for customers — and 'flexibility' — not fearing change and pursuing new things. Card-ui-Jeongseok reflects both of these principles, woven into the product.
To stay true to the fundamentals, the card was designed based on big-data analysis of customers' spending patterns, providing the greatest benefits in the categories customers use most.
Card-ui-Jeongseok has a base accrual rate of 0.8%, higher than the 0.7% base rate typical of other cards, with up to 5% accrual depending on category. Registering the card with any of the four major simple-payment services — Naver Pay, Kakao Pay, Payco, SSG Pay — and using it earns an additional 3% on both the simple-payment side and Card-ui-Jeongseok itself.
This card also became a talking point on social media for its differentiated design. By applying Korean painter Kim Hyun Jung's work 'Excess is No Better Than Deficiency' to the card plate design, it became the industry's first card to carry Korean beauty in this way, meeting the needs of customers who value visual and emotional satisfaction.
A Woori Card representative said, "Everything President Jung Won-jae envisioned was reflected. He personally attended meetings and actively put forward ideas," adding, "Card-ui-Jeongseok also reflects his ambition to strengthen competitiveness through strong new product launches and raise market share to the 10% range."