[Ki Ha-young's Life Card] The Era of 200,000 Electric Cars... "Make Sure to Get Charging Discounts"

Shinhan, Samsung, KB Kookmin, Hyundai
Electric Vehicle Card Launch
Up to 70% Discount on EV Charging
Benefits on Insurance, Public Transport, and Vehicle-Related Services Provided

Is there anyone these days without at least one credit card? In modern society, anyone can have a card if they want. Credit cards have brought unparalleled convenience to daily life. Now, wherever you go, you can easily see people paying with credit cards or smartphones. As demand has increased, cards with various benefits are being released almost daily. Accordingly, Asia Economy delivers diverse stories related to cards, which are inseparable from our consumer life, through the weekly 'Cards in Daily Life' corner, including introductions of new cards, behind-the-scenes industry stories, and guides for card beginners.

As the cumulative number of electric vehicles (EVs) registered domestically has surpassed 200,000, EV-specific cards are being launched one after another. This is to target the rapidly growing EV market. The competition among card companies is intensifying, with basic benefits including discounts and point accumulation on EV charging fees.

Currently, there are a total of four EV cards released. After Shinhan Card launched the 'Shinhan Card EV' in September 2017, KB Kookmin, Hyundai, and Samsung Cards each introduced their own EV cards. For EV owners considering issuing an EV card, we have compared and summarized the benefits of each card.

Charging Discounts: Shinhan & Samsung, Point Accumulation: KB Kookmin & Hyundai

If you want discounts on EV charging, it is advantageous to use Shinhan Card or Samsung Card. Both cards have an annual fee of 15,000 KRW. The 'Samsung iD EV Card' offers a 50% discount on EV charging fees up to 20,000 KRW per month if the previous month's spending is over 300,000 KRW, and a 70% discount up to 30,000 KRW per month if the previous month's spending exceeds 500,000 KRW. Shinhan Card EV offers a 30% discount on EV charging fees up to 20,000 KRW per month if the previous month's spending is over 300,000 KRW, and a 50% discount if the previous month's spending exceeds 600,000 KRW. If the previous month's spending is over 500,000 KRW, you can get an additional 10,000 KRW discount when paying for EV charging with Samsung Card.

KB Kookmin Card and Hyundai Card provide point accumulation benefits rather than charging fee discounts. Both cards have an annual fee of 30,000 KRW, which is more expensive than Shinhan and Samsung Cards. The 'KB Kookmin EVO Titanium,' launched in November last year, accumulates points equivalent to 50% of EV and hydrogen vehicle charging fees up to 10,000, 20,000, or 30,000 points per month depending on whether the previous month's spending is over 500,000, 1,000,000, or 1,500,000 KRW, respectively. The 'Hyundai EV Card,' launched in March this year, accumulates 50% of EV and hydrogen vehicle charging fees up to 10,000 points per month if the current month's spending is over 500,000 KRW, and 100% up to 20,000 points if the current month's spending exceeds 800,000 KRW. Points for the Hyundai EV Card are accumulated as Blue Members points, Hyundai Motor's membership points.

Benefits for Vehicle-Related Services such as Insurance and Public Transportation

EV cards provide not only EV charging discounts and point accumulation benefits but also benefits for vehicle-related services. These points differ by card company. Shinhan Card EV offers a 30,000 KRW annual discount on Hyundai Marine & Fire Insurance direct auto insurance and a 10% discount on Hi-Pass tolls up to 5,000 KRW per month for customers with previous month spending over 300,000 KRW.

The Samsung iD EV Card also offers a 30,000 KRW discount on Hyundai Marine & Fire Insurance direct auto insurance. Additionally, if the previous month's spending is over 300,000 KRW, it provides a 10% discount on parking, Hi-Pass, and designated driver services up to 5,000 KRW per month. The Hyundai EV Card accumulates 3% points on parking, car wash, and Hi-Pass related card payments and 2% points on public transportation, SoCar, and Tada usage if the current month's spending is over 500,000 KRW and monthly usage is over 300,000 KRW. It also offers a 1.5% point accumulation benefit on new Hyundai car purchases.

The KB Kookmin EVO Titanium Card is an ESG (Environmental, Social, and Governance) specialized card. When spending over 10,000 KRW per transaction at eco-friendly food specialty brands such as Allga Whole Food, Biologa, Chorokmaeul, and eco-friendly packaging delivery shopping malls like SSG.COM and Coupang, 5% of the amount is accumulated as points. Points are accumulated up to 5,000 points per month for previous month spending over 500,000 KRW, 7,000 points per month for spending over 1,000,000 KRW, and 10,000 points per month for spending over 1,500,000 KRW. As an ESG-specialized card, points accumulated through card usage can also be donated to the Environment Foundation, a public interest foundation specializing in the environment.

In addition, Shinhan Card EV offers a 10% discount on convenience stores, hospitals, and pharmacies in the lifestyle service sector, Samsung iD EV Card provides a 10% discount on delivery apps and a 20% discount on streaming services.