Green Labs Financial Launches Agriculture-Specialized Partnership Card with Shinhan Card

‘Farmer Credit Card’ Scheduled for Release in Q2 This Year
Discount Benefits for Farming Activities and Additional Services Available

[Asia Economy Reporter Kwangho Lee] The first specialized partnership card offering benefits for farmers has been launched.

Green Labs Financial signed a memorandum of understanding (MOU) with Shinhan Card for a specialized partnership card and its activation. The agreement was signed by Kim Chan-ho, CEO of Green Labs Financial, and Moon Dong-kwon, CEO of Shinhan Card, representing both companies.

Both companies agreed to create a 'specialized partnership card' in the second quarter that will provide various benefits and conveniences for farmers. Nearly one million users of Green Labs' Farm Morning and Sinsun High platforms will be the main customers, and they plan to rapidly increase customers through online and offline marketing activities. As a specialized financial company in the agro-food industry teams up with a traditional major financial company, they will promote new businesses utilizing farming data and launch new services related to ESG management and carbon neutrality to create synergy.

With the launch of the specialized partnership card, it is expected to greatly help farmers who have been marginalized by finance due to a lack of transaction history. Named the 'Green Labs Financial-Shinhan Card,' farmers can receive substantial benefits during the farming process when making payments with this card.

It is also expected to contribute to carbon reduction. Seasonal agricultural products shipped from low-carbon farms associated with Green Labs Financial will be sold through Shinhan Card's online shopping mall, the ‘All That’ app. This expansion of sales channels is expected to activate low-carbon agriculture and strengthen corporate ESG management.

Kim Chan-ho, CEO of Green Labs Financial, said, "We are pleased to introduce customized services for farmers who have been excluded from finance," adding, "We will continue to pioneer innovative financial areas for farmers to achieve remarkable development and growth in the agro-food industry."

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