SEOUL, Aug. 19 (Korea Bizwire) — Major South Korean credit card issuer Samsung Card Co. said Thursday it has decided to sell its entire 19.9 percent stake in Renault Samsung Motors Corp. Samsung Card said it recently made the decision and selected Samsung Securities Co. as the lead manager of the stake sale. The card [...]
SEOUL, May 10 (Korea Bizwire) — The Seoul Metropolitan Government (SMG) announced on Thursday that it will give 50,000 won (US$42.46) worth of congratulatory gifts to citizens who adopt abandoned animals under a business agreement with Samsung Card Co., the credit card arm of South Korea’s top conglomerate Samsung Group. Under the agreement, the SMG [...]
SEOUL, March 6 (Korea Bizwire) – South Korea’s credit card companies suffered a drop in their net profit last year on a sharp increase in marketing cost and loan loss expenses, data showed Monday. Eight standalone credit card firms here posted a total of 1.81 trillion won (US$1.5 billion) in net profit, down 9.9 percent [...]
SEOUL, Nov.9 (Korea Bizwire) – With the American ‘Black Friday’ shopping frenzy only three weeks away, the credit card industry has ramped up marketing efforts, targeting those who make direct overseas purchases. As the number of people who make overseas purchases is increasing rapidly, credit card companies have started their promotions earlier than in previous [...]
SEOUL, Aug. 4 (Korea Bizwire) – Prior to the official launch of Samsung Pay, Samsung Electronics‘ simple on and offline payment solution, Korean card companies are busy preparing for the service. According to credit card industry representatives, Samsung Card, Samsung Group’s card company, and BC Card are now offering a trial run of Samsung Pay [...]
SEOUL, Aug. 4 (Korea Bizwire) – In the mega-hit movie “Minority Report,” buildings, shops and streets are full of electronic biometric systems that use red flashes and lights to scan the irises of all passers-by and identify them in order to send them custom-tailored services and advertisements. Before entering a security agency, Tom Cruise, who [...]
SEOUL, July 7 (Korea Bizwire) – Samsung Pay, the proprietary mobile payment service developed by Samsung Electronics, will be introduced in its home market soon as a beta service. Samsung Card announced on July 6 that it would recruit beta testers for Samsung Pay until July 10. The beta testers will experience the Samsung Pay service [...]
SEOUL, March 20 (Korea Bizwire) — Korean card companies are throwing themselves at Costco Korea in hopes of developing an affiliate partnership, as the company’s current agreement with Samsung Card ends in May. Costco’s corporate policy is to only have one card partnership agreement per country, and its affiliation with Samsung Card has been in place for [...]
SEOUL, Mar. 18 (Korea Bizwire) — Shinhan Card is introducing a cash-back service for remaining reward points in situations where customers decide to withdraw their membership due to mistakes or faults in the company’s operation. The cash-back service is due to start on April 15. Korean credit card companies have been allowing their customers’ reward points to [...]
SEOUL, March 12 (Korea Bizwire) – Commission income and asset sales boosted net profit for South Korean credit card companies in 2014, the financial watchdog said Thursday. The combined net earnings of eight credit card firms stood at 1.8 trillion won (US$1.6 billion) last year, up 5 percent from the previous year, according to the [...]