Card Companies Compete to Attract Applications for Gyeonggi-do Disaster Basic Income

Shinhan Card to Award 50,000 Points to 100 Winners by Lottery
Samsung Card to Distribute Mobile Coupons

[Asia Economy Reporter Ki Ha-young] Starting this month, as Gyeonggi Province begins distributing the second round of disaster basic income, the card industry is actively engaging in marketing to secure customers. Unlike last year's nationwide disaster relief fund, there are no guidelines to restrain marketing, and the interests of local governments aiming to revitalize regional consumption and the card companies seeking to increase market share have aligned.

According to the card industry on the 5th, nine card companies including Shinhan, Samsung, KB Kookmin, Hyundai, Lotte, Woori, Hana, Nonghyup, and BC (including Suhyup, SC, and Industrial Bank of Korea) have started accepting applications for the 2nd Gyeonggi Province disaster basic income through their websites or mobile applications this week. The support amount is 100,000 KRW per person, and applications can be made using the Gyeonggi local currency card or the card companies' credit or check cards.

Card companies are actively promoting customer recruitment through online and mobile apps. They display banners for disaster relief fund applications on their homepage main screens and send bulk text messages to Gyeonggi residents based on the last digit of their birth year to inform them of their application dates.

Some card companies have also entered marketing competitions. Shinhan Card offers 50,000 points by lottery to 100 customers who apply for the disaster basic income with their card and use 'Uri Dongnae Sangjeom' (Our Neighborhood Stores) by May 31. Additionally, 4,500 customers will receive 10,000 points. 'Uri Dongnae Sangjeom' refers to small and medium-sized merchants with annual sales under 500 million KRW among the Gyeonggi disaster relief fund usage locations.

Samsung Card provides one mobile coupon (from Shinsegae E-Mart, GS25, CU, or Starbucks) to those who apply for the disaster basic income and enter the event by the 7th. KB Kookmin Card plans to gift a total of 11,614 people through a lottery with prizes including an LG Electronics 65-inch OLED TV, laptops, Dyson hair dryers, and Starbucks coupons to those who apply for the Gyeonggi disaster basic income with their card and enter the event by the 14th of next month.

The card industry expects market share to expand through attracting this disaster basic income. The total scale of this Gyeonggi disaster basic income is about 1.4 trillion KRW. An industry official explained, "Unlike the nationwide disaster relief fund, the authorities have not issued special guidelines, so the industry is conducting marketing at a moderate level," adding, "Through the disaster relief fund, card companies can attract new customers, and customers can benefit from marketing promotions."

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