"Let's Help Each Other in Difficult Times"... Hyundai Card Launches Korean Air PLCC (Comprehensive)

Korean Air and Hyundai Card Launch 4 PLCCs
Earn Up to 5 Miles per 1000 Won
Welcome Bonus of 3000 to 15000 Miles Available

[Asia Economy Reporter Ki Ha-young] Korean Air and Hyundai Card have launched the country's first airline-exclusive credit card. Although the release was delayed due to the impact of the novel coronavirus disease (COVID-19), this outcome was the result of the collaboration between Cho Won-tae, Chairman of Hanjin Group, who aims to overcome the crisis with new business ventures during difficult times, and Jung Tae-young, Vice Chairman of Hyundai Card and Hyundai Capital.

On the 27th, Korean Air and Hyundai Card announced the launch of a private label credit card (PLCC) that offers Korean Air-specialized benefits and various services related to airline usage.

Previously, Hyundai Card and Korean Air signed a PLCC partnership agreement in December last year. A PLCC is a credit card created by a company that wants to directly own a credit card, in collaboration with a card company that has expertise in designing and operating card products. At that time, Jung Tae-young, Vice Chairman of Hyundai Card, stated on Facebook, "We plan to create an airline card representing the highest standard in Korea."

This card, originally scheduled for release in March, was postponed by about a month due to the unexpected outbreak of COVID-19 in January this year. However, despite the difficulties faced by the airline industry due to COVID-19, the demand for air travel has not disappeared, and market expectations for a new airline mileage card remain unchanged. Therefore, the card was introduced to the market without further delay.

All benefits of this card were primarily designed by Korean Air. It features Korean Air mileage benefits as the core, along with various benefits related to air travel and business trips, and SkyPass membership-linked benefits. Additionally, Hyundai Card members can enjoy exclusive services such as discounts on Hyundai Card Super Concerts and free admission to the Library (Design, Travel, Music, Cooking).

The new products include four types: 'Korean Air Card 030,' 'Korean Air Card 070,' 'Korean Air Card 150,' and 'Korean Air Card The First.' All four Korean Air cards earn 1 mileage point per 1,000 KRW spent as a basic accumulation. Depending on the product, customers can earn 2 to 5 mileage points per 1,000 KRW spent on Korean Air, overseas, hotels, duty-free shops, and more. Additionally, Korean Air Card 150 members who meet the performance conditions receive 5,000 mileage points annually, and Korean Air Card The First members receive up to 15,000 mileage vouchers annually. Korean Air and Hyundai Card also plan to offer a welcome bonus of 3,000 to 15,000 mileage points depending on the product to customers who apply for the card.

The annual fees are 30,000 KRW for Korean Air Card 030, 70,000 KRW for Korean Air Card 070, 150,000 KRW for Korean Air Card 150, and 500,000 KRW for Korean Air Card The First.

This content was produced with the assistance of AI translation services.