Earn Money While Resting... Save Small with 'Jjantech' to Build Wealth This Chuseok

Quiz Solving and Safe Driving Challenges Gain Popularity in Jjantech

Mrs. Hwang, a housewife in her 50s, is constantly checking financial company applications (apps) even during the Chuseok holiday. When she wakes up in the morning, she watches ads within the app to accumulate points, and in her spare time, she solves quizzes or completes missions to earn additional points. Before going to bed, she checks her step count for the day and earns extra income based on walking missions.

During the long five-day holiday including the weekend, the practice of gathering small amounts of money through various apps, known as ‘Jjantech’ (a portmanteau of ‘jjada’ meaning frugal and ‘jaetech’ meaning financial technology), is gaining attention. Especially the MZ generation (Millennials + Generation Z) share their own Jjantech tips on social networking services (SNS), feeling a sense of accomplishment and stimulating motivation.

According to the financial sector on the 16th, Samsung Fire & Marine Insurance offers cash-equivalent points to safe drivers through its app ‘Direct Chac’ in the ‘Chac!han Drive’ service. When the app is turned on during driving and the phone is connected to the vehicle via Bluetooth, points are provided based on the vehicle’s mileage and safe driving score. Up to 5,000 points can be accumulated per month. Even those who are not subscribers to the car insurance can use this service, making it popular as a frugal Jjantech app that helps save tollgate fees.

K Bank’s ‘Growing Money Tree,’ launched in April, is also a favored service among Jjantech users. The goal is to grow a money tree to the final growth stage (stage 7) by checking in daily on the K Bank app and completing missions such as temperature management, watering, and fertilizing. Successful completion of missions rewards cash prizes ranging from 100 to 100,000 KRW. Growing and harvesting the money tree can be done in as little as three days. The service gained popularity with 600,000 users growing 270,000 trees within three weeks of its launch.

The simple payment (pay) industry has been releasing services that accumulate points equivalent to cash every time users spend, to reduce their spending burden. Naver Pay offers a ‘Point Draw’ benefit up to three times per transaction when paying at offline merchants. Considering that draws can be made up to 50 times per month, a maximum of 150 draws is possible. If users subscribe to Naver Plus Membership, Naver Pay Money Hana Account, or Mirae Asset Securities CMA-RP Naver Account, points are accumulated 2 to 4 times more. Points can be drawn from a minimum of 1 KRW up to a maximum of 20,000 KRW.

Kakao Pay provides the ‘Cafe Payback’ benefit, which accumulates up to 3% of the payment amount as points. When paying at offline stores through Kakao Pay, 0.5% of the payment amount is accumulated as points. If the previous month’s payment performance is met, the accumulation rate increases to 2%, and at the user’s most frequently used ‘favorite store’ from the previous month, 3% of the payment amount is accumulated. To meet the Cafe Payback previous month’s performance condition, users need to make payments of 3,000 KRW or more at least 12 times using Kakao Pay.