Hyundai Card and Musinsa Exclusive Card to Launch Early Next Year

Musinsa PLCC Launch Scheduled for Early Next Year
Plans to Introduce New Customized Customer Service

[Asia Economy Reporter Ki Ha-young] Hyundai Card is partnering with Musinsa, the largest online fashion platform in Korea, to launch a 'Musinsa-exclusive credit card (PLCC)'.

On the 22nd, Hyundai Card and Musinsa announced that they had signed a partnership agreement for the launch, operation, and joint marketing of the Musinsa PLCC product.

To participate in social distancing measures to prevent the spread of COVID-19, the partnership signing ceremony was held online. The event featured nine young employees symbolizing the future of both companies, who exchanged messages of support and performed together in a cheerful atmosphere.

Musinsa, which started in 2003 as a community of street fashion enthusiasts, officially entered the online fashion business by launching the Musinsa Store in 2009. As of the end of August this year, it has grown into the largest fashion platform in Korea with about 7 million members and 5,000 partner brands. Based on this achievement, Musinsa was selected last year as the 10th unicorn company in Korea and the first pure online fashion company to achieve unicorn status (a startup valued at over 1 billion USD).

The Musinsa PLCC, scheduled for release early next year, will offer benefits focused on Musinsa. In particular, Musinsa and Hyundai Card plan to introduce new customer-tailored services based on the data science capabilities of both companies. Additionally, they intend to combine their strong brand assets, led by their uniquely attractive offline spaces, to carry out diverse collaborations.

A Hyundai Card official said, "Musinsa is an innovative company leading the lifestyle of the 10s and 30s generation beyond being the best online fashion platform," adding, "Collaboration with Musinsa, which leads trends among young generations and exerts enormous influence, is expected to qualitatively enhance the rapidly expanding Hyundai Card PLCC business once again."