By Na Jeong-ju
Staff Reporter
Some financial firms are agonizing over negative or mocking campaigns by their rivals or customers against their corporate and product names. These negative marketing campaigns damage their corporate images on which companies spend millions of dollars every year.
Shinhan Card recently released the ad copy of ``The Answer'' for its new merged card advertisements. But pronounced ``ansseo,'' it sounds similar to the Korean word that means ``I won't use it.'' It has become a major target of mockery by Internet users already, baffling Shinhan Card.
Shinhan officials said it selected the ad copy to promote its efforts to give more benefits to consumers and consolidate its position as the country's No.1 card issuer. They were concerned that some people used the word to have a negative impact on its marketing strategy.
``It is true that our corporate image has been badly hurt because of that word,'' a Shinhan official said. ``We've found that some people are spreading the word with ill intentions, but there is no way to stop them.''
The official said the card firm has invested billions of won to improve its corporate identity since merging with LG Card. The impact of the negative campaigning is so substantial that the firm is now considering a new corporate image ad, he said.
Woori Bank was also a victim of negative campaigning by rival lenders.
Since the bank changed its name from Hanvit Bank to Woori Bank in 2002, rival banks have called it ``wori,'' a word is used to call dogs in Korea. Officials from other banks pronounce it as the English word ``worry.'' Woori originally means ``our'' in Korean.
LIG Life Insurance also has had difficulty in improving its image because of the English word ``lig.'' LIG is short for Leading Insurance Group.
Korea Investment & Securities adopted the copy of ``True Friends'' for its corporate image ads but rival firms are calling it ``through friends.''