Donation of Disaster Relief Funds, Shinhan Card Ranks First

91% of Donations Applied via Credit Card Companies
Total 25.697 Billion Won
2nd Place BC Card, 3rd Place KB Kookmin Card
Out of 9.6095 Trillion Won in Support Funds
Only 0.27% Returned as Donations

[Asia Economy Reporter Ki Ha-young] The place with the highest amount of donations from the government’s emergency disaster relief funds due to the novel coronavirus infection (COVID-19) was Shinhan Card. Although 91% of the donation amount was applied through card companies, the donation ratio accounted for only 0.27% of the total disaster relief fund card payments.

According to data received on the 17th from the Emergency Disaster Donation Task Force (TF) of the Ministry of Employment and Labor by Jeong Dong-man’s office of the United Future Party, the confirmed donations as of the 10th amounted to 28.21 billion KRW (155,786 cases). This total includes the amounts donated at the time of applying for the disaster relief funds and those donated after receiving the funds, excluding parts not yet applied for.

Among these, the amount donated through eight card companies (Shinhan, Samsung, KB Kookmin, Hyundai, BC, Lotte, Hana, NH Nonghyup) was 25.697 billion KRW (147,419 cases), accounting for 91% of the total donation amount.

By card company, Shinhan Card, the industry leader, had the highest donation amount and number of cases. Shinhan Card recorded 39,029 donation cases and 5.643 billion KRW in donations. The company has 24 million members, the largest in the industry.

BC Card followed with 33,532 cases and 5.430 billion KRW. BC Card is estimated to have had many users as it provides payment network services to 16 bank cards including Woori Card, IBK Industrial Bank, and SC First Bank.

In third place was KB Kookmin Card with 18,543 cases and 3.981 billion KRW in donations. KB Kookmin Card recorded the highest average donation amount per case among the eight card companies, exceeding 210,000 KRW per case.

Other rankings were Samsung Card (16,245 cases, 3.16 billion KRW), NH Nonghyup Card (13,720 cases, 2.519 billion KRW), Hyundai Card (10,551 cases, 1.92 billion KRW), Hana Card (9,898 cases, 1.975 billion KRW), and Lotte Card (5,901 cases, 1.114 billion KRW). Many households applied for donations through bank-affiliated card companies such as NH Nonghyup Card, which has bank branches nationwide. On the other hand, corporate card companies without bank branches and with poor check card performance, such as Samsung, Hyundai, and Lotte Card, showed relatively lower donation results.

Meanwhile, according to the Ministry of the Interior and Safety, the amount of disaster relief funds received as of the 7th was 13.5908 trillion KRW. Of this, the amount applied through credit and check cards was 9.6095 trillion KRW, accounting for 70.7% of the total amount. This means that only about 0.27% of the card application amount was returned to the government as donations.

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