Scheduled for Release in the Second Half of the Year
Exclusive Benefits Focused on Baemin Points
Collaboration for Developing Eco-Friendly Food Containers
Vice Chairman Jung Tae-young of Hyundai Card (left) and Kim Beom-jun, CEO of Woowa Brothers, are posing for a commemorative photo after signing a partnership agreement for the launch of the "Baedal Minjok Exclusive Private Label Credit Card (PLCC)" at the Woowa Brothers headquarters in Songpa-gu, Seoul.
[Asia Economy Reporter Ki Ha-young] A dedicated credit card for Baedal Minjok will be launched by Hyundai Card in the second half of this year. This is the first time a delivery application (app) exclusive card has been introduced in Korea.
This is a follow-up project by Jung Tae-young, Vice Chairman of Hyundai Card, who has been leading the PLCC market by introducing Korea's first airline (Korean Air) and Korea's first coffee brand (Starbucks) private label credit cards (PLCC).
On the 8th, Hyundai Card announced that it signed a partnership agreement with Woowa Brothers, the operator of Baedal Minjok, for the launch, operation, and marketing of the PLCC product.
PLCC is a card operated jointly by companies that want to have their own credit cards and specialized card companies. It is characterized by providing card benefits and services focused on the respective company.
The Baedal Minjok PLCC, scheduled to be launched in the second half of this year, is the first dedicated card for a domestic delivery app. The benefits are concentrated on 'Baemin Points.' Baemin Points can be accumulated not only when using Baedal Minjok but also for various contactless services such as online shopping and digital subscriptions.
The two companies also plan to proceed with a new form of collaboration. Through design cooperation, they will develop and introduce new eco-friendly food containers. Recognizing the seriousness of environmental issues caused by food delivery containers, Baedal Minjok introduced food containers that decompose quickly when buried using eco-friendly coating materials in May. Hyundai Card plans to release new food containers with a design that incorporates Baedal Minjok's unique style and sensibility, upgrades user convenience, and carries the meaning of environmental protection together with Baedal Minjok.
They also plan to hold various unprecedented events such as Delivery Week, which offers exceptional benefits during designated periods.
A Hyundai Card official said, "Hyundai Card and Baedal Minjok plan to collaborate in various fields to provide new benefits and enjoyment to Baemin customers along with the development of PLCC products," adding, "We will also accelerate the development of customer-tailored services based on data science and the discovery of new marketing insights."
Meanwhile, Hyundai Card is leading this market by consecutively launching Korea's first PLCCs in various industries such as eBay Korea, Korean Air, and Starbucks.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
