Card Company Market Share Ranking Changes... Hyundai Card Rises to 3rd in Personal New Approvals Backed by PLCC and Others

Achieved Significant Growth with 2% Market Share Increase in the Last 2 Years
Ranked 3rd Following Shinhan and Samsung Card

[Asia Economy Reporter Ki Ha-young] Hyundai Card made significant progress in market share based on individual credit sales in the fourth quarter of last year. Over the past two years, it has expanded its share by nearly 2%, closely trailing Samsung and KB Kookmin Card.

According to the Financial Supervisory Service's Financial Statistics Information System on the 30th, among the seven specialized card companies (Shinhan, Samsung, KB Kookmin, Hyundai, Lotte, Woori, and Hana Card), Hyundai Card ranked third with a 17.69% market share in individual credit sales excluding corporate card performance in the fourth quarter of last year. This is a 0.6 percentage point increase from the previous quarter (17.09%). Until the third quarter, Hyundai Card was ranked fourth behind Shinhan, Samsung, and KB Kookmin Card.

In terms of total credit sales (individual and corporate excluding corporate purchases), Hyundai Card still holds fourth place with a 17.33% market share. However, its share increased by 1.02 percentage points from the previous quarter, narrowing the gap with third-place KB Kookmin Card to 0.33 percentage points. The gap in the previous quarter was 1.33 percentage points.

Industry analysts attribute Hyundai Card's progress mainly to the expansion of its membership base centered on private label credit cards (PLCC). Additionally, the increase in automobile sales last year favored Hyundai Card, which has a high payment ratio for vehicle purchases, helping it expand its market share.

Samsung, KB Kookmin, and Hyundai Card have been competing for the second position among card companies for several years. Shinhan Card maintained its undisputed first place with a 21.46% market share in total credit sales as of the fourth quarter of last year. It was followed by Samsung Card (17.93%), KB Kookmin Card (17.66%), and Hyundai Card (17.33%). While the gap between first and second place is 3.53 percentage points, the difference among the second-tier card companies is around 0.6 percentage points.

In terms of individual credit sales market share, Shinhan Card also held first place with 22.30%, followed by Samsung Card (18.58%), Hyundai Card (17.69%), and KB Kookmin Card (17.34%).

Meanwhile, the gap in market share between mid-sized card companies such as Lotte, Woori, and Hana Card and the large card companies is widening. Lotte Card's market share in the fourth quarter of last year fell by 0.15 percentage points to 9.19%. Woori Card and Hana Card also dropped by 0.54 percentage points and 0.19 percentage points, recording 8.89% and 7.54%, respectively.

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