A model shows a smartphone with ‘K-Motion’ app. introduced by Kookmin Card lately and has been gaining popularity among its customers.

Kookmin Card’s mobile app card, “K-Motion,” has been rapidly growing, exceeding 440,000 cardholders as of Oct. 31, the credit card company said recently.

Kookmin Card has been pushing the sale of the new application credit card in the hope that it will take over as the top card in the credit card payment market because K-Motion combines Mobile and Evolution in its application, the company said.

K-Motion card issued 100,000 cards in just 15 days since its launch in September 2012 and continues to issue more than 8,000 cards per day since.

K-Motion can be summarized in three words — simple, slim, and safe — because after installing it on mobile phones as an application, the holders receive certification of identification as the user and can then register the card, a simple process; stores accept the card, which is attached to the mobile phones so that you don’t have to carry wallets with a credit card, making it slim; and you can use any number when using the card, not only registered numbers, which is very safe, the company said.

There are more than 140 registered stores including such convenience stores as 7-Eleven, Buy the Way, and others around Myeong-dong, the heart of downtown Seoul, and the Hanaro Clubs in the capital area. Kookmin Card plans to expand the number of stores that accept the K-Motion card around the country.

The K-Motion app can be downloaded from Playstores and app stores at any time. Online fund transfers can be made on K-Motion at online stores that accept K-Motion using a QR code and payment code. Shopping malls where online payment is possible include Groupon and NHBaroBaro, and very soon such online shopping malls as PointryMall and Lotte.Com will be added.

The K-Motion brand also includes the mISP, or mobile safety payment, and Kookmin Card plans to put on the market the ‘Smart Integrated Payment Service,’ which includes K-Motion and a mobile electronic wallet, the ‘KB Wise Wallet,’ an integrated payment function, and other diverse card advantages by the end of the year.

President Shim Jae-oh was named to head Kookmin Card as its CEO in July 2013 for his outstanding leadership and achievements during his years at Kookmin Bank. His extensive and in-depth experience in sales management, private banking, wealth management, and customer satisfaction management are widely recognized. Prior to joining KB Kookmin Card, Shim served as senior executive vice president of the Customer Satisfaction Group at Kookmin Bank. Shim began his career in the banking industry in 1985 and spent his entire career in the industry. In 2003, Shim served as general manager of the Affiliate Product Department. He also managed the investment and trust product department from 2003 to 2005.

In 2005 he worked at Kookmin Bank as general manager of the PB Department for two years. He worked as head of the PB Center from 2007 to 2010. In December 2011 he was named senior executive vice president of the Marketing Group at the bank. 

KB Financial Group is a comprehensive financial group with 299 trillion won in assets and the largest domestic customer base as well as the widest network of service branches in Korea. Currently, domestic subsidiaries under the umbrella of KB Financial Group consist of KB Kookmin Bank, KB Investment & Securities, KB Life Insurance, KB Asset Management, KB Real Estate Trust, KB Investment, KB Futures, KB Credit Information, KB Data Systems, Kookmin Bank Hong Kong Ltd. (UK), Kookmin Bank International Ltd (UK), and KB Investment & Securities Hong Kong Ltd (UK). 

KB Financial Group was established on Sept. 29, 2008 with the comprehensive transfer of major subsidiary companies shares in accordance with the mid and long-term development plan to cope with changes in the financial environment such as the global acceleration of the financial industry, a decrease in profitability of electronic banking services, and the extension of capital market.