SEOUL, July 20 (Korea Bizwire) — With the stock investment fever engulfing individual investors in South Korea, a string of large retailers have released stock-related products that are enjoying growing popularity.
Convenience store chain CU is in talks with various securities firms to collaborate on a series of products.
In February, the company joined hands with Samsung Securities Co. to launch a special promotion for customers opening new accounts at brokerage house online through CU’s mobile app ‘Pocket CU.’
For such customers, CU accumulates points equivalent to 1 percent of their investment amount on a monthly basis. The promotion attracted a total of 5,200 new customers in only four months.
In collaboration with credit card processing firm BC Card Co., GS Retail Co. released a brand-new instant cup noodle product in August last year.
About 240,000 packages of the cup noodles were sold in just 20 days thanks to giveaways of 10 million won (US$8,680) in foreign stock investment.
E-Mart24 Inc., the convenience store arm of South Korean retail giant Shinsegae, has entered into negotiations to release a follow-up product after the ‘stock lunch box’ that it released last week in collaboration with Hana Financial Investment Co. gained sensational popularity with its order volume reaching 20,000 units after just two days.
“These type of products is gaining rising popularity thanks to ordinary people’s higher interest in stocks,” a market watcher said.
“In particular, the MZ generation – those who were born between 1980 and 2000 – are accepting the practice of buying stock-related items as fun or fashionable.”
J. S. Shin (firstname.lastname@example.org)