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Hyundai Card, a South Korean credit card company under Hyundai Motor Group, has signed a deal with Yanolja Co. Ltd. to engage in various business collaborations, including the release of private label credit cards or PLCC.
As per The Korea Times, Hyundai Card and Yanolja will also join forces in branding and marketing in addition to working together in data science analysis. The former said on Wednesday, July 27, that as part of the partnership, it would also launch a Yanolja-branded PLCC before this year ends.
The new credit card will offer a broad range of benefits in various areas, including leisure activities, accommodation, performances, and even transportation. Aside from Yanolja, many other leisure platforms such as Interpark, Triple, and Daily Hotel will give special benefits and discounts to all cardholders.
"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," Chung Tae Yong, Hyundai Card’s vice chairman and chief executive officer, said in a statement.
Lee Su Jin, Yanolja’s chief, also 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."
Hyundai Card and Yanolja are also expected to work together on industrial trend analysis by merging the card firm’s data science technology and the latter’s leisure-related big data resources.
Infostock Daily reported the team-up would surely vitalize Domain Galaxy, which is Hyundai Card’s data alliance group formed with all of its PLCC partners. Currently, the alliance already has an impressive lineup consisting of leading players from different business sectors, such as GC Caltex, E-mart, and Hyundai Motor.
Finally, Hyundai Card and Yanolja will launch a unique PLCC soon, and as part of their agreement, they will apply tried and strategies for their products and services launch. They will do this by sharing their respective expertise in data science analysis to generate good business synergy.
