By Kang Seung-woo
Staff reporter
With the South Africa World Cup about to start, banks and other financial institutions are busy putting it to their best marketing use.
Some banks have gained exclusive rights from FIFA, the world governing body of football, while others are hanging onto the coattails for a free ride. For those freeloaders, their methods often "go around" the rules, so there is nothing illegal about them.
Korea Exchange Bank (KEB) has a stranglehold on World Cup marketing in terms of authorization.
The local lender became the event's official bank on April 22 after signing a sponsorship deal with VISA International, one of the official sponsors of FIFA, which is the first time for a Korean bank to back a World Cup on foreign soil.
The contract gave KEB the exclusive right to use the official logo, emblem, slogan and event titles of FIFA in its marketing.
KEB plans to support the Korean national squad, a seven-time qualifier, and pursue integrated marketing to arouse a sense of unity among the people.
It came up with a limited deposit account which provides an additional preferential interest rate of 0.1 percent every time the Korean team wins a match in the group stage under the name 'High Five Festival.'
Its promotion also includes the provision of lottery tickets which guarantee a win when its customer exchanges currency at Incheon International Airport.
"We began World Cup marketing as part of invigorating the sport during the tournament," a KEB official told The Korea Times, but he declined to expand on this.
While KEB teamed up with FIFA, Hana Bank is linked with the Korea Football Association (KFA) to earn an official title.
Hana, a long-time KFA sponsor, has been a heavyweight with regard to World Cup marketing.
Seoul Bank, the first-ever patron of the Taeguk Warriors in 1998 after reaching a 300 million won, two-year agreement, was acquired by Hana Bank in 2002, but their rapport has continued since the latter agreed to a 6.4 billion won, four-year deal, which enables it to use the national team, including the logo and players' photos in advertising.
As for products, it launched an installment savings plan which awards an added preferential interest rate of 0.2 percent if the Korean team reaches the second round.
In addition, an interest rate increase of 0.2 percent will be awarded to those who can name Korea's first scorer in the tournament.
The bank also supported efforts to build a football ground for young people in South Africa.
In the credit card sector, several official affiliates are bracing for the quadrennial event, issuing limited-edition cards.
These include Shinhan's Visa World Card, KB's South Africa World Cup Special Edition Card and Hana SK's World Cup Gift Card.
However, unauthorized companies are not disarmed and are jockeying for guerrilla-type advertising despite FIFA's firm determination to fend off pseudo sponsorship.
The international football governing body has released marketing and advertising guidelines to protect its affiliates from marketing ambushes ahead of the first World Cup on African turf.
These are marketing techniques which involve cleverly connecting products with the event, without paying sponsorship fees while not violating any laws.
Kookmin Bank is offering a 50-percent discount on fees when people traveling to South Africa for the World Cup exchange won for rand at its website or branch at Incheon International Airport.
Shinhan is also providing reduced fees of up to 40 percent, for similar currency transactions via the Internet.
It is also holding an exhibition displaying currencies from all 32 World Cup qualifying nations at the Korean Finance Museum located near Gwanghwamun in central Seoul until July 17 and a concert will be held in Daegu ahead of the Korean team's opener on Saturday.
BC Card offers discounts to those who pay with its credit cards at approximately 500 pubs in the cities of Seoul, Daejeon, Daegu, Gwangju and Busan until June 17, when the Korean team plays Argentina.
Samsung card holders will have chances to receive up to 1 million mileage points when they correctly answer questions, including on the match scores from three qualifiers in the first round and the player to net the first goal for Korea.
Lotte plans to invite 16,000 members to Lotte World, a theme park, Saturday for a concert.
Hyundai is also preparing for an event, which will award one person a year-long free coupon for Starbucks in the case of the national team advancing to the knockout phase.
Besides these, a slew of offline prize giveaway events are lined up by various financial firms.