Hyundai Card to Launch 'Socar Exclusive Credit Card' by the End of This Year

Socar PLCC Launch Scheduled for This Year-End
Earn 'Socar Credit' When Using Socar Service

[Asia Economy Reporter Ki Ha-young] Hyundai Card is partnering with 'Socar' to launch a Socar-exclusive credit card (PLCC).

On the 23rd, Hyundai Card announced that on the 22nd, it signed a partnership agreement at its Yeouido headquarters with Socar, the nation's top mobility platform, to launch, operate, and market a Socar-exclusive credit card (PLCC) product.

Starting with 100 vehicles in Jeju Island in 2011, Socar surpassed 6 million members within 9 years of its launch and has established itself as the leader in the domestic car-sharing market. Currently, Socar operates about 12,000 vehicles and over 4,000 Socar zones nationwide.

The Socar PLCC, scheduled for release at the end of this year, plans to offer 'Socar Credit (Socar reward points)' accumulation benefits when using Socar services. Additionally, Socar and Hyundai Card will analyze card usage data of Socar users to provide special accumulation benefits in frequently used categories. Socar Credits earned through card usage can be freely used like cash when using Socar services.

Based on the data science capabilities of both companies, Socar and Hyundai Card plan to actively collaborate by developing diverse customer-tailored services and conducting new forms of brand collaborations.

A Hyundai Card official stated, "Hyundai Card's PLCC business is rapidly expanding beyond the retail industry into aviation, dining (delivery), and mobility sectors," adding, "An environment is being created where collaboration between different PLCCs across industry boundaries can be expected, based on a strong partner lineup."

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