Hyundai Card-Mirae Asset Securities to Launch Korea's First Securities Company PLCC

PLCC Launch Scheduled for This Second Half of the Year... Enhanced Investment-Related Benefits

[Asia Economy Reporter Yu Je-hoon] Hyundai Card and Mirae Asset Securities are launching the development of Korea's first private label credit card (PLCC) exclusively for securities companies.

On the 25th, Hyundai Card announced that on the 23rd, it signed a partnership agreement with Mirae Asset Securities regarding the launch and operation of the PLCC product at the Mirae Asset Center One Building in Jung-gu, Seoul. The signing ceremony was attended by Jung Tae-young, Vice Chairman of Hyundai Card, and Choi Hyun-man, Chairman of Mirae Asset Securities.

Hyundai Card and Mirae Asset Securities will combine their core competencies to promote comprehensive collaboration on multiple levels. First, the two companies plan to launch the Mirae Asset Securities PLCC in the second half of this year. This product will include various investment-related benefits, such as providing stocks based on usage performance. In particular, they will leverage Hyundai Card's artificial intelligence (AI)-based data science capabilities to jointly develop customized products and services for customers.

Hyundai Card expects that through Mirae Asset Securities, the data alliance among PLCC partners called 'Domain Galaxy' will become more active. Currently, major industry companies such as E-mart, Hyundai Motor·Kia, Korean Air, Starbucks, and Baedal Minjok are participating in Domain Galaxy and conducting active marketing collaborations.

Vice Chairman Jung said, "We have high expectations for the collaboration between Hyundai Card, which possesses unparalleled PLCC business capabilities based on data technology, and Mirae Asset Securities, which has created numerous firsts in the investment finance industry. By leveraging the strengths of both companies, we will provide differentiated services and benefits to customers."

Chairman Choi also stated, "The leading securities company and the leading card company in Korea have come together. Accordingly, through the PLCC, we will offer customers a new experience that connects consumption and investment. We will lead a new investment culture together with Hyundai Card."