By Kim Jae-won
Korean consumers rely heavily on products and services that Samsung Group’s affiliates and its related companies provide. Many Koreans watch TVs produced by Samsung Electronics, buy auto insurance from Samsung Fire & Marine, and wear suits made by Cheil Industries. They shop at E-Mart, and buy bread at Tour les Jours, which CJ Food Ville runs. On weekends, they take their children to the nation’s biggest amusement park Samsung Everland.
Samsung Card acknowledged this consumption style, and made a new credit card titled “Samsung S Class” which provides additional services for those who use their credit cards at the company’s affiliates.
The cardholders can benefit from additional discounts and various services when they use the card at Samsung affiliates, such as Samsung Electronics, Samsung Fire & Marine, Cheil Industries and E-Mart. Samsung affiliates reach most areas for consumers from electronics, shopping and travel to insurance, restaurants, medical checkups and amusement parks.
Samsung Card is a leading company in its sector, which was listed on the main bourse of Seoul in 2007. It is the first and the only company of its kind listed on the Korea Composite Stock Price Index, or KOSPI.
It has grown up gradually for more than two decades since its establishment in 1988. Samsung says that it has increased its market share with its advanced risk management skills and efficiency. It also has created new revenue sources diversifying its portfolios and paved the way for long-term income.
Samsung had 10.2 million customers and 2.35 million registered shops as of December, and leads the industry with differentiated marketing strategies and creative products and services. It has collaborated with global credit card companies, such as Visa, MasterCard and American Express providing overseas credit card services and various premium products.
Samsung Card has enforced its effort to satisfy customers, and has been recognized by numerous customer agencies.
It has grabbed the top spot for customer satisfaction for seven consecutive years from KMAC, and was appointed as a good financial company for customer protection by the Financial Supervisory Service this year.
Samsung Card also takes lead in social corporate responsibility programs. The credit card company has hosted an online donation campaign for child cancer patients since March 2003. The firm also has supported KBS 1 TV’s program titled “Challenge Golden Bell” to encourage youths to become global leaders, who equip international knowledge and spirit.
Samsung Card’s performance also showed improvement last year. The company saw its net profit reach 1.15 trillion won last year, up 83 percent from the previous year.