If You're Looking for 국민지원금+α Benefits... Card Companies' 'Chuseok Marketing' in Focus

Disappearance of National Support Fund Marketing
Government Funds Deemed Inappropriate for Customer Acquisition Competition
If You Want Additional Benefits... Meet Card Spending Requirements or Focus on Chuseok Events

[Asia Economy Reporter Ki Ha-young] Kim So-young (35, pseudonym), a working mom living in Mapo-gu, Seoul, confirmed that she was eligible for the COVID-19 Recovery National Support Fund and looked for card company events, but no suitable benefits caught her eye. Kim said, "Last year, when the nationwide disaster relief fund was distributed, I remember receiving a coffee coupon, so I checked the events, but this time there was nothing special, which was disappointing. Since the support fund counts toward card spending requirements, I plan to meet the card spending criteria to get benefits or participate in Chuseok events."

Marketing by card companies related to the COVID-19 Recovery National Support Fund has disappeared. This is due to financial authorities recommending restraint in promotion. Some voices argue that since the support fund is intended for self-employed people hit hard by COVID-19, card companies and financial firms should have encouraged consumption through events.

According to the card industry on the 8th, card companies are presenting various events such as gift set discounts for the upcoming Chuseok holiday. Each company offers Chuseok gift discounts, cashback at large marts and department stores, and online shopping discounts. Although large-scale marketing like overseas travel promotions is not possible due to COVID-19, events are being held mainly focused on online shopping.

Regarding the support fund, whose payment procedures started on the 6th, direct marketing by card companies has disappeared. Only indirect events linked to Chuseok are ongoing. For example, Samsung Card offers a coffee coupon to all customers who apply for the event by spending 50,000 won or more, including the support fund, at convenience stores, restaurants, coffee shops, bakeries, and pharmacies using Samsung personal credit cards (including family cards) until the 19th.

NH Nonghyup Card and Woori Card also provide prizes or cashback based on payment amounts including the support fund. NH Nonghyup Card will draw 1,035 customers who spend 400,000 won or more, including the disaster relief fund, at all domestic merchants during September and give massage chairs and other prizes. Woori Card will draw 1,717 customers who spend 100,000 won or more cumulatively at markets, discount marts, home shopping, department stores, and online shopping malls using Woori Card by the 24th and refund up to 300,000 won.

An industry insider said, "There is a consensus that it is inappropriate for card companies to compete for customers using government funds, so direct marketing related to the support fund is being restrained. Instead, since the support fund is mostly included in card spending, managing this or participating in Chuseok events can help households."

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