Fintech Company Socialbox within VI Group Launches Airline Integrated Membership-Based Platform Service

At the vision declaration ceremony held last January, VI Group unveiled its vision of "Global FinTech in My Hands." Through the fintech company SocialBox (CEO Ji-eun Kim), VI Group plans to launch a new type of fintech platform based on airline memberships in the second half of this year. SocialBox's "BUFFY" service aims to provide a new glocalized fintech service based on airline memberships from various countries.

Airline Membership-Based FinTech Service

Although there are 1.3 billion airline membership subscribers worldwide, the use of existing airline memberships and mileage is structured in a closed manner. The "BUFFY" service aims to maximize the utilization of airline memberships and mileage to enhance convenience and scalability, offering users not only the lowest-priced airline tickets but also COVID-19 travel insurance, currency exchange, and various convenience services.

VI Group, which includes affiliated companies such as VI Asset Management (VIAMC Ltd.) in Hong Kong, VI Ventures based in China, Europe, and North America, as well as VI Financial Investment, VI Asset Management, and Bankerstreet (PEF) in Korea, possesses the capabilities of a global fintech company. The global fintech platform that SocialBox pursues is internally evaluated to have strong synergy potential with VI Group’s affiliated companies. Unlike Kakao and Toss, which provide services limited to Korea, SocialBox’s "BUFFY" plans to develop a fintech platform targeting users worldwide, including Korea, Hong Kong, and Europe, based on VI Group’s global capabilities.

The integrated membership inquiry service "BUFFY," scheduled for release in the second half of this year, plans to expand COVID-19 travel insurance from Hong Kong to other countries for its subscribers. It aims to enable worry-free travel across countries during the COVID-19 pandemic by offering travel insurance products tailored to the limited international movement of travelers.

Ji-eun Kim, CEO of SocialBox, stated, "Through the 'BUFFY' service, which will be launched in August, we aim to transform the previously inconvenient and closed airline memberships into fintech services. This will allow simple remittances and expand fintech services that can be used across borders even in restricted mobility environments, providing user-centered services that offer users more benefits and rewards."