High Praise for Driving Innovation-Led Economic Growth
Recognition for Creating Business Models Through Big Data and Intermediary Platforms
Shinhan Card announced on the 26th that it received the Presidential Citation, the grand prize in the group category, at the National Productivity Competition hosted by the Ministry of Trade, Industry and Energy. Kang Kyung-sung, Director General of Industrial Policy at the Ministry of Trade, Industry and Energy (first from the left), Moon Dong-kwon, Head of Management Planning Group at Shinhan Card (second from the left), and Yoon Seung-won, Head of Brand Planning Team at Shinhan Card (third from the left), are posing for a commemorative photo after the award ceremony. Photo by XXX
[Asia Economy Reporter Ki Ha-young] Shinhan Card has become the first in the industry to receive the Presidential Citation at the National Productivity Awards.
Shinhan Card announced on the 26th that it received the Presidential Citation, the Grand Prize in the organization category of the National Productivity Awards, at the 44th National Productivity Awards held on the 25th at the COEX Grand Ballroom, hosted by the Ministry of Trade, Industry and Energy and organized by the Korea Productivity Center.
The National Productivity Awards is a government commendation system awarded to companies that have achieved exemplary productivity innovation through scientific and systematic management and innovation activities.
Shinhan Card was highly evaluated for leading innovation-driven economic growth beyond the card industry. Shinhan Card is the only single company selected for seven government innovative financial services, including the credit evaluation business for individual entrepreneurs, remittance service based on credit cards, small investment service in overseas stocks linked to card payments, facial recognition payment service, real estate monthly rent card payment service, rental brokerage platform, and overseas remittance service for foreigners, having already commercialized six of them.
In addition, it is discovering new revenue sources and creating various services through big data and brokerage platforms. Based on industry-leading big data capabilities, it has conducted big data consulting, supported public institution policy-making, and succeeded in selling data for profit to overseas institutions beyond Korea. Furthermore, it is leading the data economy through hyperconnectivity by combining data from telecommunications, distribution, and other sectors.
To fulfill its virtuous cycle role for enterprises, Shinhan Card is actively conducting social contribution projects utilizing its brand and Environmental, Social, and Governance (ESG) capabilities. Through public design and art marketing of the Hero Project, it has contributed to regional development in areas such as Euljiro, Daegu-ro, and Seomun Market, and revitalized local commercial districts through the My Shop Partner, a big data and artificial intelligence (AI)-based win-win marketing platform for small business owners. It is also leading ESG management by promoting the 'Areumin Library' project for nurturing future generations.
A Shinhan Card official said, "This award is meaningful as it recognizes externally the management innovation achievements and new business models created by Shinhan Card," adding, "We will continue to be a first-class Shinhan Card that creates differentiated customer experiences and excellent management performance in connection with Shinhan Financial Group's Best Shinhan Strategy."
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