Banks Beef Up Sports Marketing
By Kim Jae-won
Staff Reporter
The Winter Olympics are just around the corner, and Korean eyes will be on Kim Yu-na, the nation's most famous figure skater, when she hits the ice on Feb. 23. Every single Korean hopes she can give the nation its finest moment ever at the Winter Olympic Games.
Kookmin Bank, the nation's largest lender, also hopes that she can stand atop the podium, not only for the nation, but also for its brand image.
The bank is one of the biggest and longest-running sponsors of the athlete. Kim has been a TV commercial model for the bank since 2007 when both sides struck a deal.
KB has been extremely pleased with the results.
"The marketing effect of TV commercials is enormous. Kim has hugely contributed to improving our brand image and boosting sales," You Jung-youn, senior manager at the lender, said. "It is one of the best deals ever."
So far, about 340,000 customers have opened KB's special account product titled "Yu-na Love Installment Savings Account," and deposited a total of 818.9 billion won.
The lender will provide additional interest of up to 0.5 percent for customers of the product if Kim wins a gold medal at one of three international competitions until March.
Hana Bank, the fourth-largest lender in the nation, hopes to hit the jackpot with the World Cup.
The lender kicked off "Term Deposit for 2022 World Cup," a product designed to support the nation's successful bid for the 2022 World Cup. Hana plans to donate 0.1 percent of proceeds from the product to the 2022 FIFA World Cup Candidature Committee.
Han has supported the national football team since 1998, and is an official sponsor of the committee.
"Football is one of the most famous sports in the nation. Many Koreans enjoy watching football on TV, and there are many football clubs in the nation. That's why we focus on football marketing," Kim Young-ha, head of marketing team at the lender, said.
Korea Exchange Bank plans to provide a service titled "Global SOS Service" for Korean spectators in Vancouver, Canada, the host city of the 2010 Winter Olympic Games.
The lender said that it would reissue credit cards for those who lose their plastic during the Olympic event at its branch in downtown Vancouver.