President Wi Sung-ho of Shinhan Card Co.

Copies of the Code 9 Card, which has been a resounding success since its issuance 15 months ago.(Photos:Shinhan Card)

President Wi Sung-ho of Shinhan Card is ready to introduce the Code 9 2.0 Card following the success of the Core 9 Card, which will soon surpass the 3 million cardholders mark since its introduction only 15 months ago.

The credit card company set up a task force to issue the new type of credit card that designed to boost services for customers. The service is divided into a number of different levels depending on their age and demand for services.

The Code 9 Card was based on a survey of cardholders that zeroes in on what they want from credit cards. The Code 9 2.0 will be based on the data gathered from those surveys.

The Big Data gained from those surveys was broken down to place consumers into nine distinct groups based on age, style of credit card uses and where they use their cards most often. 

The holders of the Code 9 Card are projected to exceed 3 million next month for the first time. It will be the first time in the history of the credit card industry in Korea that the holders of a single credit card will reach the milestone in such a short period of time.

The Code 9 2.0 Card will focus on tailor-made services for its holders when introduced in the market. The “2030 Rapp,” put on the market recently, will act as a launch pad for the Code 9 2.0 Card as it is aimed at cardholders in their 20s and 30s, who lead many consumption trends around the country.

The task force for the new credit card will work with SNS in analyzing the data for credit card use trends that might develop three to four months later, especially fashion trends, so that they can introduce new credit card commodities with many special services in the fashion sector — including discounts.

Shinhan Card plans to introduce five or six tailor-made types of the Code 9 2.0 Card in the second half of the year.

Shinhan Card has been issuing welfare credit cards in line with the Law for Courteous Treatment of Patriots, which can be applied for through visits to the Ministry of Patriots and Veterans Affairs (MPVA). It is for anyone who is deemed to have made a patriotic contribution to the state, including those who participated in the independence movements for Korea from Japanese colonial rule; those who fought in the Korean War; those who fought for democracy in Korea; and those who worked for special missions during the Korean War who are on the list of MPVA.

In particular, a 220 won per liter discounted will be applied when refueling at LPG service stations for the cardholders for up to 300 liters. There is no limit on the number of times on can refuel per day. The special welfare cardholders can use subway lines in Korea free of charge, as well as some bus lines. The subway lines in such large cities as Seoul, Busan, Incehon, Daegu and Gyeonggi Province will be free for those cardholders. They can also ride the city buses free of charge in Seoul, Busan, Incheon and Daegu. In addition, no interest will be charged when they purchase goods on installment payment plans at such large department stores as Lotte, Hyundai and Shinsegye, and a 20 percent discount will be applied to fees when they withdraw cash from automatic cash machines.

If cardholders use the cards to pay for more than 300,000 won worth of goods on an installment plan, they will get a 50 percent discount at such places as Seoul Land and Lotte World, and a 1,500 won discount for cardholders and their companions at movie theaters such as Max Movie, Inter Park and Yes24. They can also get discounts at professional sports games.

Shinhan Card officials said they are entitled to the privileges in recognition for their great contributions to the country.

“We believe we can satisfy our customers by sharing our sincerity and our best,” President Wi said. “Whenever we put our heads together to make decisions, we do our best to benefit our customers after thinking twice from their viewpoint. In addition, we take heads under the slogan 'Compassionate Finance', which means we benefit the world through the true support of finance.”