"Save Money and Earn Coupons and Interest"... Retail Industry Collaborates with Finance Sector

‘KB Savings Coupon Book with Emart’
Up to 4% Annual Interest Rate & Maximum 32,000 KRW Emart Discount Benefits
Convenience Stores and Supermarkets Specialized in Banking Services Popular
CU and Hana Bank Macheon Park Branch: 4x Usage, 3x Visitors Increase
Unique Products Attract Customer Interest and Expand Convenience

The distribution industry is collaborating with the financial investment sector to differentiate channels and products. The strategy is to attract customer interest and retain their visits through lifestyle-oriented distribution and finance integration models.

According to the distribution industry on the 18th, Emart will launch ‘KB Savings Coupon Book with Emart,’ a savings product linked to shopping and finance, in partnership with KB Kookmin Bank starting from the 27th of this month. During the 6-month subscription period, customers can freely deposit from 1,000 KRW up to a limit of 300,000 KRW per month, offering a basic interest rate of 1.4% per annum and a maximum interest rate of 4.0% including preferential rates. A key feature is that on every business day (bank standard) when a deposit is successfully made, customers receive up to 32,000 KRW in discounts at Emart offline stores and a preferential interest rate bonus of 0.5 percentage points. Subscriptions are available through the KB Star Banking application from May 27 to June 15. A pre-event will also be held starting on the 19th.

From the consumer’s perspective, they can enjoy relatively high interest rates and shopping benefits simultaneously, while financial and distribution companies can expand their customer base. Last year, the ‘Emart Kookmin Savings’ launched with KB Kookmin Bank was a success, reaching the recruitment target of 100,000 people ahead of schedule. Recently, Emart also introduced ‘Emart Pack,’ a subscription coupon service in collaboration with Hyundai Card, offering up to 15,000 KRW in Emart discounts per month for a monthly subscription fee of 3,900 KRW.

In the convenience store industry, convenience stores with banking services are emerging one after another. CU recently opened its second finance-specialized convenience store, ‘CU Bisan Jai Branch,’ in Anyang City, Gyeonggi Province. Through ATMs, customers can handle not only basic transactions but also financial services that previously required visiting a branch, such as video consultations, account opening via biometric authentication, passbook reissuance, and issuance of check cards and security cards (OTP). Simple services available at regular ATMs can be used 24 hours, while services requiring video consultation with an agent are available from 9 a.m. to 6 p.m. Notable effects have also appeared. The first branch, ‘CU Machon Park Branch,’ which was launched last year, surpassed 10,000 banking transactions using the STM (comprehensive financial machine) in just over six months. The daily usage count increased fourfold compared to when only simple deposit and withdrawal ATMs were installed. The daily visitor count at CU Machon Park Branch last month was about three times higher than before the financial services were introduced, and the number of payments made using Hana Card at the store increased by 15.4% compared to the same period last year.

GS The Fresh, operated by GS Retail, is also collaborating with Shinhan Bank to renew and operate the Gwangjin Hwayang Branch located in the Konkuk University commercial district as the ‘Digital Innovation Store No. 1.’ Seven Eleven is working with DGB Daegu Bank to establish a fusion-type specialized channel that breaks down the boundaries between convenience stores and banks within the first half of this year. Emart24 is capturing customer attention with differentiated products. In partnership with Shinhan Financial Investment and others, Emart24 offers ‘Stock Lunchboxes’ containing domestic and international stocks, enabling securities firms to attract new customers while convenience stores increase customer visits and consumption, creating a win-win effect.

The distribution industry plans to expand offline stores into ‘comprehensive lifestyle platforms’ through integration with the financial investment sector, while launching combined products such as ‘savings with shopping benefits’ and ‘stock-containing lunchboxes’ to expand their customer base. A distribution industry official said, “Both finance and distribution have strengths in attracting customer interest and providing convenience to encourage customers to use their channels,” adding, “Such cross-industry collaborations will continue actively in the future.”