Shinhan Card Collaborates with Singapore Airlines to Develop Korea's First Foreign Airline PLCC Product
Shinhan Card Signs MOU with Singapore Airlines for Product Development
[Asia Economy Reporter Yoo Je-hoon] Shinhan Card and Singapore Airlines have decided to jointly develop the first foreign airline co-branded credit card (PLCC) in Korea.
On the 6th, Shinhan Card announced that it signed a business agreement with Singapore Airlines to develop a PLCC product and promote joint marketing. The signing ceremony, held in Singapore, was attended by Ryan Pua, Vice President of Loyalty Marketing at Singapore Airlines, Lee Seok-chang, Head of Pay Platform Group at Shinhan Card, and other officials.
Through this agreement, the two companies plan to launch a credit card equipped with Singapore Airlines' loyalty program, "KrisFlyer." KrisFlyer is the loyalty program of the Singapore Airlines Group, allowing members to earn mileage when flying with Singapore Airlines and its subsidiary Scoot Airlines, which can be used for future flights. Mileage can also be earned when using various partner companies for dining, shopping, and more.
In particular, KrisFlyer offers advantages such as exemption from peak season surcharges on mileage redemption and an award chart tier system that makes reservations easier. Additionally, depending on the customer tier, members can enjoy preferential services such as airport lounge access, priority boarding and baggage handling, and personalized services.
Going forward, the Singapore Airlines PLCC will provide various membership benefits through KrisFlyer program enrollment upon issuance and offer mileage accumulation services based on card usage amounts. Furthermore, the two companies plan to build a close cooperative relationship to prepare diverse marketing and customer privileges, providing unprecedented value to their customers.
A Singapore Airlines official said, "We are pleased to introduce Singapore Airlines' KrisFlyer program to more domestic customers through this business agreement with Shinhan Card, the number one card company in Korea," adding, "Singapore Airlines will continue to strive to offer the best products and services to provide a rich travel experience."
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A Shinhan Card official stated, "Through the business agreement with Singapore Airlines, we expect customers to enjoy broader and more valuable benefits when traveling abroad, on business trips, and using airports," and added, "We will jointly develop innovative benefits so that Shinhan Card customers can be recognized as premium customers within the Singapore Airlines Group, creating the most outstanding PLCC product."
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