Emergency Disaster Relief Fund Application Starts Today... "Card Company Websites Operating Smoothly"

Reception Starts from 7 AM on the 11th

[Asia Economy Reporter Ki Ha-young] Card companies opened the government’s emergency disaster relief fund application page and started accepting applications from 7 a.m. on the 11th.

According to the card industry on the 11th, nine card companies?Shinhan, Samsung, KB Kookmin, Hyundai, Lotte, BC, Woori, Hana, and NH Nonghyup Card?introduced the disaster relief fund application page on the first screen of their internet homepages or in the form of pop-ups. They are also guiding applications for the disaster relief fund through mobile web and applications (apps).

The emergency disaster relief fund can be applied for after identity verification through the internet homepage, mobile web, or application (app) of the credit/check card issuing institution held by the head of the household. Identity verification can be done using one method provided by the card company among public certification, mobile phone, or card authentication. The fund can be used within 1 to 2 days after application, and confirmation of the application and the date when it becomes usable will be notified via mobile phone text messages.

To ensure stable applications and acceptance, a day-of-the-week system similar to the five-day mask distribution system will be applied during the first week of applications from the 11th to the 15th. On this day, only people whose birth year ends with 1 or 6 can apply.

Although a large demand was expected on the first day of applications, the reception has been operating smoothly without server downtime since 7 a.m. This is because the day-of-the-week system was applied and demand was distributed among nine card companies. An industry official said, "Since the application is open to the entire population, we prepared in advance by expanding servers to prevent overload if applications surge," adding, "We expect applications to increase after 9 a.m., the time when office workers start work, and are monitoring the situation."

Marketing related to the emergency disaster relief fund by card companies will be conducted minimally, as financial authorities have requested restraint in marketing. So far, only Samsung Card and Woori Card have introduced emergency disaster relief fund events. Samsung Card offers a mobile coupon for one Starbucks Americano (Tall) or one convenience store 5,000 KRW mobile coupon to members who applied for the emergency disaster relief fund with a personal credit card and agreed to receive marketing.

Woori Card gives four Starbucks coupons to customers who received text messages when applying for the emergency disaster relief fund. BC Card, which initially planned a cashback event returning up to 100% of the usage amount through a lottery, and NH Nonghyup Card, which planned to provide a 10,000 KRW SPC gift certificate through a lottery, have fully suspended their emergency disaster relief fund events.

The card industry estimates that out of the total emergency disaster relief fund amounting to 14.3 trillion KRW, 10 trillion KRW will be consumed through credit and check cards.

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