Hyundai American Express Platinum Card (Image provided by Hyundai Card)
SEOUL, June 19 (Korea Bizwire) — In a milestone for South Korea’s luxury financial market, Hyundai Card has become the first local issuer to launch the American Express Centurion Card—widely known as the “original black card”—marking the domestic debut of a product long reserved for the global ultra-elite.
The card, issued exclusively by invitation and carrying an annual fee of ₩7 million (approximately $5,000), is one of the most prestigious financial products worldwide. Notable cardholders have included U.S. President Donald Trump, Bill Gates, Ariana Grande, and Jay-Z. In Korea, celebrities such as IU and Lisa of BLACKPINK are reported users.
Previously available in other Asian markets like Japan and Hong Kong, the Amex Centurion is now issued in Korea through Hyundai Card under an exclusive agreement. The launch comes at a time when credit card issuers are grappling with high interest rates, economic slowdown, and declining profitability.
Hyundai Card officially disclosed the product on June 18. Though company officials declined to share specific details, the launch represents a long-sought personal achievement for Vice Chairman Chung Tae-young. Hyundai Card had pursued an American Express partnership since 2003, but only secured a deal in 2023 following the expiration of Amex’s longstanding alliance with Samsung Card.
In 2015, Hyundai Card opened the “Card Factory” at its headquarters in Yeouido, Seoul. The Card Factory drew attention as a space where visitors could observe the credit card production process and explore the history of credit cards at a glance. (Image courtesy of Hyundai Card)
The Centurion Card offers an elite suite of concierge services, including access to exclusive hotel and airline privileges, reservations at top fine-dining restaurants, cultural event bookings, private jet and luxury car rentals, and more. Members also receive loyalty points for domestic and international purchases, convertible into airline miles or hotel memberships.
Cardholders are provided with eight ₩500,000 gift certificates usable at ultra-luxury brands like Kiton and Moncler, as well as high-end restaurants such as L’Amant Secret in Seoul. The family card comes with its own ₩2 million annual fee.
Hyundai Card’s introduction of the Centurion could reignite competition in Korea’s VVIP card market, where rivals including Shinhan, Samsung, KB Kookmin, and Hana Bank already offer high-end cards such as The Premier Gold Edition, Laum O, Heritage Exclusive, and Jade First Centum, respectively—typically with annual fees ranging from ₩1 million to ₩2 million.
Hyundai had already disrupted the premium segment once before with the launch of its own VVIP card, “The Black,” in 2005, a product inspired by American Express’s high-end strategy. Now, with the Centurion in its arsenal, the company is poised to cement its leadership among Korea’s ultra-high-net-worth clientele.
As the nation continues to redefine luxury in financial services under President Lee Jae-myung’s pro-consumer administration—and amid growing interest in global brand collaborations—Hyundai Card’s Centurion launch may signal a new chapter in South Korea’s elite financial market.
Ashley Song (ashley@koreabizwire.com)
