Reception starts from 7 AM on the 11th
Usable within 1-2 days after application
[Asia Economy Reporter Ki Ha-young] Card companies opened the government’s emergency disaster relief fund application page and started accepting applications from 7 a.m. on the 11th. Some card company websites experienced delays in access due to a surge in applicants.
According to the card industry on the 11th, nine card companies?Shinhan, Samsung, KB Kookmin, Hyundai, Lotte, BC, Woori, Hana, and NH Nonghyup Card?introduced the disaster relief fund application page on the first screen of their internet homepages or as pop-ups. The application for the disaster relief fund is also guided through mobile web and applications (apps).
The emergency disaster relief fund can be applied for after identity verification through the internet homepage, mobile web, or application (app) of the credit or check card issuing institution held by the head of the household. Identity verification can be done using one of the methods provided by the card company: public certification, mobile phone, or card authentication. The fund can be used within 1 to 2 days after application, and applicants will be notified of the application confirmation and usage start date via mobile text message.
To ensure stable application and reception, a day-of-the-week system similar to the five-day mask distribution system will be applied from the 11th to the 15th, the first week of applications. On this day, only people whose birth year ends with 1 or 6 can apply.
Although a large demand was expected on the first day of applications, the reception has been relatively smooth since 7 a.m. without server downtime. This is because the day-of-the-week system was applied and demand was distributed among nine card companies. An industry official said, "Since the application is open to the entire population, we prepared in advance by expanding servers to prevent overload if applications surge. We are monitoring the situation, expecting a surge after 9 a.m., when office workers start commuting."
In fact, as applications began to surge from 9 a.m., some card companies experienced temporary access delays. However, the delays lasted only about 5 to 10 minutes, and there was no complete system outage.
Marketing related to the emergency disaster relief fund by card companies will be kept to a minimum, as financial authorities have requested restraint in marketing. So far, only Woori Card has launched an emergency disaster relief fund event. Woori Card offers four Starbucks coupons to customers who received a text message and apply for the emergency disaster relief fund.
BC Card, which had originally planned a cashback event returning up to 100% of the usage amount through a lottery, and NH Nonghyup Card, which intended to provide a 10,000 won SPC gift certificate through a lottery, have put their emergency disaster relief fund events on hold. Samsung Card also planned to offer Starbucks or convenience store mobile coupons to members who applied for the emergency disaster relief fund with a personal credit card and agreed to receive marketing, but canceled the event on the morning of the day. However, Samsung Card will still provide mobile coupons to customers who were already informed about the event.
Meanwhile, the card industry estimates that out of the total emergency disaster relief fund amounting to 14.3 trillion won, 10 trillion won will be consumed using credit and check cards.
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