"Catch the Golinee"... Card Industry Competes with Golf-Specialized Cards and Services

KB Kookmin Card Launches Green Jacket Check Card... 5% Discount on Golf Industry
Shinhan Card Introduces Golf-Specialized Premium 'Rave Card'
Hyundai Card Preparing Golf-Specialized Services for Premium Cardholders

[Asia Economy Reporter Ki Ha-young] Credit card companies are consecutively launching golf-specialized cards and services. This is due to growing interest in golf, especially among the MZ generation (Millennials + Generation Z), leading to differentiated marketing efforts to attract new customers.

According to the card industry on the 14th, KB Kookmin Card released the 'KB Kookmin Green Jacket Check Card' today, which offers discount benefits when using golf-related merchants such as golf practice ranges, screen golf, and golf apparel and equipment stores. This card provides a 5% discount up to a maximum of 100,000 KRW per month in each of the three golf-related categories?golf practice ranges and screen golf, golf apparel and equipment, and golf tourism (Green Jacket Tour)?if the previous month's spending exceeds 300,000 KRW, all without an annual fee.

For gas stations (excluding charging stations), a 5% discount is offered up to 100,000 KRW per month based on spending, and for automatic payment of life and non-life insurance premiums, a 5% discount is provided up to 50,000 KRW per month. The discount benefits for golf-related merchants, gas stations, and automatic insurance premium payments can be enjoyed within the monthly integrated discount limit, which is up to 10,000 KRW per month if the previous month's spending is 300,000 KRW or more, and up to 20,000 KRW per month if it is 600,000 KRW or more.

Earlier, Shinhan Card introduced the golf-specialized premium card 'Shinhan Card La V.' With an annual fee of 197,000 KRW (domestic use only), this card is characterized by reducing golf-related expenses and providing services reflecting golfers' movement patterns and consumption behaviors through big data analysis. Cardholders can choose one of three gift options each year. The gift options include a 50,000 KRW discount (up to three times a year) when spending over 100,000 KRW at domestic golf courses and practice ranges, a Golfzon mobile golf culture gift certificate worth 170,000 KRW (once a year), and a voucher for a Bushnell golf rangefinder worth 200,000 KRW (once a year).

The card also offers mileage accumulation benefits with Korean Air. It accumulates 3 miles per 1,500 KRW spent at domestic and overseas golf courses, 2 miles per 1,500 KRW spent in dining and all gas stations, and 1 mile per 1,500 KRW spent at all other merchants.

Hyundai Card plans to provide golf-specialized services for premium card customers. They are preparing to open golf spaces accessible to premium cardholders such as Black, Purple, and Red members, and offer services where customers can receive golf lessons from professional golfers by paying lesson fees.

The golf market size is steadily growing. According to a report titled 'Differentiation of Golf Practice Ranges and Screen Golf Ranges Divided by COVID-19' recently published by KB Financial Group Management Research Institute, the annual number of golf course users last year was 46.7 million, a 12% increase from 41.7 million in 2019. It has been growing at an average annual rate of about 5.4% over the past five years. Additionally, the number of people enjoying golf, especially among the MZ generation, is rapidly increasing, indicating a trend toward popularization.

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