Hana Card, which started a new chapter in its history when merged with KEB Card and Hana SK Card last year, has a long-term plan to boost its operation now that its cardholder numbers have exploded to 5.2 million.
Led by Chairman Kim Jung-tae of Hana Financial Group, the credit card company plans to boost its sales to 140 trillion won, 500 billion won in net profit, market share of 15 percent, and become a top-class credit card firm in Korea by 2025. The company will work on solidifying its operational base in the early stages and grab a leading position in mobile payments in the industry and strengthen its position further.
To be known as a “Smart Life Revolutionary Card Firm,” Hana Card reorganized its setup to consist of seven headquarters and 42 teams under four branches. Its Brand Management Team and the Global Marketing Team were established to manage its brand and secure a competitive edge in its overseas operations. The SK Strategy Team will take charge of overseas marketing and public relations in cooperation with SK Telecom.
The company also launched the TFT to take charge of managing various matters related to changes in the company’s operations, from the mergers such as personnel matters, and reimbursement. The company has decided to keep the current system until a renegotiation with the union occurs to settle the differences. But the areas that are easy to be managed will be integrated soon, while the talks with the union will be held as early as possible. The integration of IT into the three credit companies is to be completed by July next year.
President Jeong Hae-boong said we will try to create synergy as much as possible in a short time, taking advantage of KEB Card, the first credit card issuer in Korea and Hana SK Card, a leader in the mobile credit card market, so that no other credit card firms can catch up. “We will try to provide the best possible services to our customers, considering they are part of us as a reform credit card firm that provides ‘Smart Life’ to them,” he said.
KEB Hana Card announced that it held a General Meeting of Shareholders and a Board of Directors Meeting on March 25, where the decision was made to reappoint incumbent CEO JeongHae-boong.
The Board of Directors unanimously decided to reelect president and CEO after determining that he is the best person to stabilize the new Hana Card, which was created from the integration of Hana SK Card and KEB Card last December, and ensure continued growth.
In particular, at a time when finance and IT technology are converging, Jeong’s drive to develop a mobile card business received praise. He has strategically focused on the mobile card business since his time at the old Hana SK Card, thereby contributing to quantitative growth in card issuance and usage volume as well as qualitative innovation, such as the launch of the industry’s first “mobile debit card.” He has also laid the groundwork for future growth under the booming financial technology (FinTech) environment.
Prior to the Board of Directors Meeting, Hana Financial Group’s Group Executive Member Nomination Committee nominated Jeong Hae-boong as the sole candidate for the next president of KEB Hana Card on Feb. 23.
The Nomination Committee noted Jeong’s leadership throughout the successful integration of the two card companies and his extensive experience in the private and retail banking businesses at Hana Bank, making him the best person to lead the growth of the newly-integrated KEB Hana Card.
At the Board of Directors Meeting, KEB Hana Card also decided to reappoint Deputy President Kwon Hyeock-seung and Auditor Lee Gwang-jun, who led the successful integration of the two card companies. In particular, Deputy President Kwon was recognized for his successful launch of the “Sync Card.” In the four months since the launch, 400,000 Sync Cards have been issued, with 1 million expected to be issued by year-end.
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