Hyundai Card, Yanolja form strategic partnership

Yanolja CEO Lee Su-jin, left, and Hyundai Card Vice Chairman and CEO Chung Tae-young sit next to each other in this promotional photo distributed by Hyundai Card on July 27. Courtesy of Hyundai Card

By Anna J. Park

Hyundai Card and Yanolja have joined hands for a broad-range partnership that includes the issuance of private label credit cards (PLCC), joint branding and marketing as well as cooperation in data science analysis.

According to Hyundai Card on Wednesday, the credit card company will launch a Yanolja-branded PLCC later this year, offering diverse benefits in the areas of accommodation, leisure activities, performances as well as transportation. Various leisure platforms, including Yanolja, Interpark, Daily Hotel and Triple, will allow special benefits and discounts for card holders.

The two companies also agreed to cooperate on industrial trend analysis by combining Hyundai Card's data science technology and Yanolja's leisure-related big data resources.

“By joining hands with Yanolja, which has earned a dominant status in the leisure industry, Hyundai Card aims to be a leading player that introduces new leisure culture,” Hyundai Card Vice Chairman and CEO Chung Tae-young said.

“With the partnership, the two companies could be able to preemptively respond to tourism and leisure demands of the new normal period by combining Yanolja's global leisure services and Hyundai Card's data science and branding capabilities,” Yanolja CEO Lee Su-jin said.

The partnership with Yanolja is expected to strengthen the so-called Domain Galaxy, the card company's data alliance with its PLCC partners. Currently joining the alliance are leading players from diverse industries including E-mart, Hyundai Motor and GS Caltex.

Based on cooperation in data science analysis, the card company expects to help partners in launching products and services and coming up with optimal strategies, on top of generating business synergy.