[1mm Finance Talk] Fintech, Insurance, and Banks... The Financial Sector Swept Up in the 'Running Finance' Craze

Running Items Expand Through Events and Product Launches
ESG Management Model Emerges, Linking Charity and Carbon Reduction
New Growth Opportunities for Super App Electronic Financial Service Providers

The Kakao Pay on-offline charity marathon campaign, "2025 Long Run," has set a new record for running campaigns in Korea by attracting over 265,000 participants, sparking increased interest from the financial sector in the running market.

Across the entire financial industry, what is being called "running finance" is being seen as a new business opportunity, with related products and campaigns being launched in succession. Running is well-suited for promoting environmental, social, and governance (ESG) management and enhancing brand value, as it can be linked to charitable giving and environmental activities. The market potential is also attractive, with the running population in Korea now exceeding 10 million. Electronic financial companies with super applications are evaluating this market as a "blue chip" (a high-growth, high-quality stock).

Runners participating in the offline long-run event held on the 6th at Misa Rowing Park in Hanam-si, Gyeonggi Province, organized by Kakao Pay in collaboration with singer Sean's YouTube channel "With Sean" for the co-growth of small business owners, are starting the race. Kakao Pay

Kakao Pay Sets New Domestic Virtual Run Record... Banks and Insurers Also Launch Running Products in Competition

According to Kakao Pay on December 12, the Long Run campaign drew 260,000 online participants and more than 5,000 offline participants, breaking the previous record for domestic virtual run campaigns. The Long Run campaign originated from an idea by the company’s internal brand team, inspired by content on singer Sean’s YouTube channel "With Sean," in which Sean, known as a running evangelist, uses a pedometer app for his activities. CEO Shin Won-keun readily accepted the idea and proceeded with the campaign in collaboration with Sean’s team.

While Kakao Pay and Sean’s team have not yet set plans for the next campaign, they are positive about holding another event. At the offline Long Run event held at Misa Rowing Park in Hanam-si, Gyeonggi Province, on December 6, Sean stated, "This is the highest record among domestic virtual run campaigns, and next year I will aim for the world record."

The financial sector is also actively launching products and campaigns utilizing running. The main approaches include offering preferential interest rates for completing running missions, providing insurance payouts for injuries, and awarding entry tickets to running events.

Shinhan Bank launched the "Shinhan 20+ Let’s Run" installment savings account in October. The product offers a base annual interest rate of 1.8%, with a maximum preferential rate of 4.8 percentage points, allowing for up to 6.6% per year. Registering a certificate of completion from a running event grants an additional 1 percentage point preferential rate. Within just one month of launch, the number of subscribers surpassed 300,000.

Samsung Fire & Marine Insurance introduced the "Anytime Leisure Insurance" in September. The policy covers up to 100,000 won for foot or leg fractures during running, 200,000 won for back or pelvis fractures, 200,000 won for foot, ankle, or leg fracture surgeries, and up to 400,000 won for back or pelvis surgeries. The insurance not only covers running but also a wide range of sports and leisure activities, including cycling, hiking, camping, racket sports, ball sports, fitness, as well as cultural activities such as attending sports games, exhibitions, and performances.

Some companies have even offered entry tickets to overseas marathon events. Hanwha General Insurance’s digital brand "Carrot" awarded prizes such as entry to the Sydney Marathon in Australia (one of the world’s seven major marathons) and the Da Nang Marathon half course in Vietnam to consumers who completed a four-week running mission with the running application "Runday" from November 3 to 30.

'Running Finance' Emerges as a Tool for Sustainable Management

Financial companies see running not as a passing trend but as a sustainable customer engagement model. By providing motivational incentives to customers who enjoy running, companies can encourage product sign-ups and increased app usage. Furthermore, hosting events and charity campaigns offers the dual benefits of ESG activity and increased brand value.

The industry is also considering the possibility of launching financial products linked to carbon credits. For example, a model could be developed in which consumers’ carbon reduction activities are verified, credits are issued, and these are managed in an electronic wallet or linked to ESG products. The basic structure is similar to existing running finance products that offer benefits for certifying running records. If this market opens up, big tech electronic financial companies with super apps are expected to have an advantage.

An industry official stated, "The reason the entire financial sector is focusing on the running market is that, beyond simple product tie-ins and interest benefits, it is highly effective for ESG linkage through the pursuit of social value and for securing loyal customers," adding, "In particular, win-win financial marketing that incorporates charitable donations is expected to continue thriving, not just as a temporary trend."