BC Card Signs MOU with Daedong and Hankook Capital to Provide Agricultural Machinery Purchase and Procurement Services

Partnership Card Also Scheduled for Release for Agricultural Machinery Buyers

BC Card signed an MOU with Daedong and Korea Capital to support workers in the agricultural sector. At the signing ceremony held on the 19th in Seocho-gu, Choi Won-seok, President of BC Card, Won Yoo-hyun, CEO of Daedong, and Lee Sang-chun, CEO of Korea Capital (from left), are taking a commemorative photo.

[Asia Economy Reporter Ki Ha-young] BC Card announced on the 20th that it has signed a Memorandum of Understanding (MOU) with Daedong and Korea Capital to support those engaged in agriculture.

The signing ceremony held yesterday at Daedong's Seoul office in Seocho-gu was attended by Choi Won-seok, CEO of BC Card; Lim Pyo, Head of BC Card's Financial Business Division (Executive Director); Won Yoo-hyun, CEO of Daedong; and Lee Sang-chun, CEO of Korea Capital, among other officials.

Through this agreement, BC Card will promote ▲ provision of low-interest financial products to B2C customers (agricultural machinery purchasers) ▲ provision of modernized settlement services to B2B customers (manufacturers, dealerships) ▲ launch of partnership cards for agricultural machinery buyers.

First, farmers and agricultural corporations purchasing agricultural machinery through BC Card's lease products will be able to receive lower interest rates compared to before.

The operating conditions of dealerships selling agricultural machinery are also expected to improve. Dealerships, which must procure expensive agricultural machinery from manufacturers (Daedong), had to use existing transaction methods that incurred high financial costs. However, by using lease products, dealerships will be able to reduce the financial costs they had to bear.

Manufacturers will also be able to minimize dealership risks through lease products, and it is expected to serve as an opportunity to strengthen financial soundness.

Going forward, BC Card plans to launch partnership cards for agricultural machinery buyers and introduce various products for agricultural workers within the year, such as providing funds at low interest rates for factory facility replacement and expansion.

Lim Pyo, Head of BC Card's Financial Business Division (Executive Director), said, "We planned these products to provide benefits to agricultural workers who have been relatively excluded from financial benefits," adding, "We will strive to ensure that many customers can benefit through the launch of various financial products."

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