Renewal of 'Noranwoosan Card' for Small Business Owners... Addition of 'Member-to-Member Discounts'

Korea Federation of SMEs and Shinhan Card Sign Business Agreement on the 17th
ID Cards Can Be Used by Entering Yellow Umbrella Contract Number

The ‘Noranwoosan Card,’ which provides discount benefits to small businesses and small merchants, is being newly revamped.

The Korea Federation of SMEs' 'Yellow Umbrella Supporters'
[Photo by Yonhap News]

The Korea Federation of SMEs announced on the 17th that it signed a ‘Renewed Noranwoosan Partnership Card Launch Business Agreement’ with Shinhan Card at the Federation of SMEs in Yeouido, Seoul.

Through this agreement, the renewed Noranwoosan Card will include an added benefit of ‘service discounts among members.’ When paying at Noranwoosan discount Shinhan Card affiliated stores, a 5% discount will be applied to encourage win-win cooperation. The monthly limit is 100,000 KRW.

The Noranwoosan Card offers customized benefits such as point accumulation and discounts in daily life-related sectors like general affiliated stores, hospitals and pharmacies, public transportation, and automobile services, as well as key business expense sectors including discount stores, e-commerce, mobile communications, and electricity bills, based on big data of small businesses and small merchants’ business types and card usage patterns.

The Noranwoosan Card plate includes the Noranwoosan contract number, allowing it to be used as an ID card. Even without a separate membership confirmation certificate, presenting the Noranwoosan Card when using Noranwoosan welfare services (condos, health checkups, funeral services) can substitute for personal authentication.

Shinhan Card also promised additional benefits such as simplified VAT filing, free use of electronic tax invoices (up to 250 per month), one-on-one free consultations with professional tax accountants, provision of marketing analysis reports for affiliated stores, and preferential interest rates on business loans from Shinhan Bank.

The renewed Noranwoosan Card is scheduled to be launched next month.

Jung Yun-mo, the full-time vice chairman of the Korea Federation of SMEs, said, “We have established a cooperative relationship with Shinhan Card so that Noranwoosan Card customers can receive various customized benefits in their daily lives and business operations. We will continue to discover and expand services that customers need in the future.”