President Lee Dong-chul of KB Kookmin Card. (Photos: KB Kookmin Card)

KB Kookmin Card President Lee Dong-chul said his card company will pursue “digital & data innovation” by collaborating with diverse players such as tech giants and building platforms with a competitive edge down the line.

“The relaxation of restrictions like ‘MyData Business,’ open banking, and comprehensive payment settlement business pose a crisis to financial institutions, but they may become a world of new opportunities,” he said.

President Lee made the remarks at “Seeing Radio Together with CEO,” a kind of a town hall meeting, at KB Kookmin Card headquarters in Jongno-gu, Seoul, on Sept. 23.

President Lee has toured branch offices across the nation to share his strategies and pending issues. He took time to lend an ear to the voices of field sales outlets on a regular basis every year since he took office.

“What is the most important thing in the data-related businesses is data analysis capabilities and competitiveness,” President Lee said. He said all executives and staff members should raise data analysis capabilities.

KB Kookmin Card is shifting a marketing paradigm from conventional general marketing into a super personalized marketing regime through data asset updating.

In connection with the implementation of new businesses, KB Kookmin Card is making preparations for the introduction of “KB Kookmin second-hand deal safety settlement service” and “inter-individual second-hand car card settlement service.”

 
KB Kookmin second-hand deal safety settlement service is designed to cut fees charged in the course of online second-hand goods transactions by half among individuals by making the most of card points and shortening the settlement period of sales payments by about three days.

President Lee also stressed the importance of strengthening of the competitiveness of conventional mainstay businesses, saying stable revenues in these areas should be earned to guarantee growth and investments in the digital & date segments.

He also said even though contactless sector is on an explosive growth due to the spread of the COVID-19 pandemic, there is a need to balance it with contact sector.

This year, President Lee took a format of “Seeing Radio” hooked up with office computers of executives and staff members in 26 branch offices across the nation as the conventional off-line communications channels were not available in compliance with social distancing guidelines and telecommuting due to the spread of the COVID-19 pandemic.

Lee shared the current status of the implementation of digital & data core projects and the direction of strategies during the one-hour meeting. As for digital transformation and current environmental changes, he specified three categories: change of restrictions, market changes, and technology changes.

“KB Kookmin Card Check So Young,” released by KB Kookmin Card.

KB Kookmin Card Releases ‘KB Kookmin Card Check So Young’

KB Kookmin Card has released “KB Kookmin Card Check So Young,” designed to give discount benefits to six areas favored by youth, such as streaming services, libraries and convenience stores.

The latest check card targeting youth, ranging 12 to 19 years of age, is tailored to give discounts in six areas.
If users score charging records worth more than 50,000 won, they will be given a 5 percent discount with a maximum of 1,000 won each month according to each of the six benefit categories.

Beneficiaries need to charge the card more than 3,000 won per charging each of streaming service and stationery shop categories; more than 5,000 won per charging in study café/reading room; more than 7,000 won in fast food,; and more than 10,000 won in public transportation ride category.

A view of the head office building of KB Kookmin Card located in Gwanghwamun, downtown Seoul.