Banks tap into running boom with fitness-linked products
As the number of Koreans who run for fun has reached 10 million, commercial banks are trying to take advantage of the recent boom in the activity's popularity to attract new customers by offering runners higher savings rates and other financial products, industry officials said Monday. Up to one-fifth of the country’s population now claim to run for fun, a figure that cannot be overlooked, according to officials. Major banks here have already rolled out tailor-made campaigns or plan to do so in the coming months. The country’s largest lender, KB Kookmin Bank, plans to launch the “KB Star Health Savings” account, which is linked to a health app and offers an annual interest rate of up to 6 percent based on step counts. The bank also plans to host a marathon, possibly in April or May, with a target of 5,000 participants. “After considering the marketing effect, the envisioned marathon is noteworthy, as financial companies have typically been sponsors of running events, not hosts,” an employee at a local marketing company said. Shinhan Bank was the first in the industry to launch
