Hanacard, Saemaeul Geumgo Central Association PLCC Card Partnership

Hana Card announced on the 1st that it signed a partnership agreement with the National Credit Union Federation of Korea on the 28th of last month for the ‘MG+ (MG Plus) Credit Card.’

The MG Plus credit card is an exclusive brand of the National Credit Union Federation of Korea’s Private Label Credit Card (PLCC). Unlike existing co-branded cards, various card-related services such as card application, usage consultation, reissuance, and cancellation can be handled at Saemaeul Geumgo branches, which is expected to not only activate card issuance but also enhance customer convenience. The two companies plan to launch their first product in October.

In addition to the PLCC business partnership, the two parties agreed to collaborate on various projects. They will cooperate on IT development for card recruitment at over 3,200 Saemaeul Geumgo branches nationwide. Preferential interest rates will be offered on financial products such as savings and loans, and joint marketing targeting members will be conducted. There are also plans for corporate card partnerships with the federation and more than 1,200 independent corporations (Geumgo) nationwide.

To commemorate the partnership, an employee event will be held. From July 15 to July 31, approximately 17,000 Saemaeul Geumgo employees will be offered benefits such as a coffee coupon on a first-come, first-served basis when pre-applying for the MG Plus credit card, as well as being granted the same Hana Card VIP grade as Hana Card employees.

Lee Ho-sung, CEO of Hana Card, stated, “With this agreement, MG Plus credit cards will be issued at over 3,200 Saemaeul Geumgo branches nationwide, linked to Saemaeul Geumgo payment accounts to expand account transactions at the credit unions, establishing a foundation for mutual win-win cooperation. We will continue to collaborate to create synergies not only in the card business but also in various financial sectors.”