Hyundai Card, a subsidiary of Hyundai Motor Group, has jointly launched an exclusive credit card with flag carrier Korean Air, officials said Tuesday.
“Korean Air and Hyundai Card have launched a private label credit card (PLCC) and signed a partnership agreement. Hyundai Card will be in charge of marketing and operations,” the credit card firm said.
PLCC refers to a credit card branded for a specific retailer, independent dealer or manufacturer. While partnership cards involve the combination of conventional credit cards and designated benefits, PLCCs allow users to enjoy all rewards provided by the contracting company.
The new credit card is marked for its optimized flight mileage benefits, officials said.
Korean Air CEO Woo Ki-hong (left) and Hyundai Card Vice Chairman and CEO Chung Tae-young hold hands after signing a PLCC partnership deal. (Hyundai Card & Hyundai Capital Newsroom)
Hyundai Card has so far launched PLCCs with retailers such as Costco, E-mart, Hyundai Motor, Kia Motors and GS Caltex.
“Our new partnership with Korean Air, which is a global top-level air carrier, will give us the chance to fully present our capacity in PLCC planning and operating,” Hyundai Card said.
“We will also make full use of our data capacities, which provides individuals with artificial intelligence-based superior customization services.”
By Bae Hyun-jung (email@example.com)