'MUSINSA Hyundai Card' Launches

[Asia Economy Reporter Yujin Cho] Online fashion platform Musinsa is launching the first Private Label Credit Card (PLCC) in the domestic fashion platform sector in partnership with Hyundai Card.

Considering the spread of the novel coronavirus (COVID-19), Musinsa held an online signing ceremony and signed a partnership agreement with Hyundai Card for the launch, operation, and joint marketing of the Musinsa-exclusive PLCC.

The signing ceremony was held via a non-face-to-face video conference with the participation of Seo Eunhee, Head of Marketing at Musinsa, Gong Bonghwan, Head of PLCC Division at Hyundai Card, and other officials from both companies.

A PLCC refers to a dedicated credit card designed and operated jointly by a company using its own brand in collaboration with a specialized card company. Since it is launched under the company's name, it is characterized by offering optimized benefits to service users.

Scheduled for release early next year, the Musinsa PLCC will include special benefits for Musinsa Store members. Additionally, Musinsa and Hyundai Card plan to introduce new collaborations reflecting the trends and needs of customers in their teens to thirties by leveraging the strong brand capabilities of both companies.

Seo Eunhee, Head of Marketing at Musinsa, said, “Through the partnership with Hyundai Card, we are able to provide differentiated benefits for Musinsa members,” and added, “We will continue to present diverse collaborations to offer a unique shopping experience to our 7 million Musinsa members.”