Hyundai Card

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Hyundai Card
IndustryCredit Card
HeadquartersSeoul, South Korea
Key people
Ted Chung, CEO
ProductsPremium Card
Point Card
Cashback Card
Discount Card
Business Card
Corporate Card
RevenueIncreaseKRW 3,021 bn (2017 4Q)
IncreaseKRW 259 bn (2017 4Q)
IncreaseKRW 192 bn (2017 4Q)

Hyundai Card (Hangul:현대카드) is a credit card company under Hyundai Motor Group headquartered in Seoul, South Korea. In 1995, Hyundai Motor Group acquired Diners Club Korea, changed its name to Hyundai Card in 2001. In May 2003, the company introduced its signature ‘Hyundai Card M,” followed by a series of ‘alphabet cards.’ The company’s strategic alliance with the GE Consumer Finance in October 2005 boosted the fledgling business in the heavily competitive Korean credit card market.[1][2][3]


In October 2001, Hyundai Motor Group acquired Diners Club Korea and changed its name to Hyundai Card Co., Ltd.[4] In May 2003, the company launched the signature Hyundai Card M and the Save Point service, which gives advanced M points for Hyundai/Kia cars and other large purchases and retrieve the amount with the M points generated from future M card usage.[5]

From 2004 the company released a series of ‘alphabet cards’ that are ‘tailored to the customers’ lifestyle’; the company became the biggest hit in the local credit card industry with the largest members of 8 million for a single credit card brand.[6]

In 2005, the company has partnered with GE Consumer Finance – which later changed its name to GE Capital— allowing Hyundai Card to learn GE’s strong risk management knowhow and GE to acquire a portion of Hyundai brand;[7] the company launched ‘The Black Card’ in 2005 for the highest-end credit card users, followed by ‘The Purple’ in 2006 and ‘The Red’ in 2008. The Hyundai Card Zero, launched in November 2011, is designed at keeping up with the changing customer lifestyle.[8]

In July 2013, the company declared Hyundai Card Chapter 2, a streamlining scheme of its product portfolio. All products were trimmed according to the two main pillars – point mileage and cashback—and instead the customers were given the choice to use their point mileage and cashback freely if they met with a certain usage standard.[9]

In October 2015, the company launched ‘Digital Hyundai Card’ project, that goes beyond introducing mobile/online products, while changing its core nature to an agile and digital-oriented company.[10]


Premium Card[edit]

The Black, the highest premium card,[11] and The Purple, a premium card, are for highest-end credit card users in Korea. The Red, which follows the traits of The Black and The Purple cards, is another premium card for people who seek beyond ordinary platinum cards.[12][13]

Point Card[edit]

M∙M2∙M3 Edition2, point cards, add extra M point mileage according to the amount of money being swiped, on top of the basic mileage accumulated; T3 Edition2 is a travel and mileage card; M CHECK, has a debit function to withdraw from one’s bank account directly upon use while piling M-point mileage; M HYBRID is a hybrid card performing both check card and credit card functions.[14][15]

Discount Card[edit]

X∙X2∙X3 Edition2 are discount cards offering discounts according to the amount of expenditure; ZERO is a discount card with no preconditions.[16]

Cashback Card[edit]

X CHECK is a check card offering X cashback points accumulation according to the amount of expenditure; X HYBRID is a hybrid card offering X cashback points accumulation according to the amount of expenditure.[17]

Business Card[edit]

MY BUSINESS is a financial service for private business owners.[18]

Corporate Card[edit]

MY COMPANY is a corporate card that offers various financial solutions.[19]

Corporate Culture[edit]

Company Slogan[edit]

Strategy + Execution - There can be no execution without strategy and no strategy without execution.

Speed - Speed is the only variable separating winners and losers in the final match.

Never-ending Change - Existence requires continuous change.

Diverse yet United - Top-level organizations are built upon diverse elements working together in tandem.


In recent years, efforts were made to spur innovation in organizational culture in order to transform Hyundai Card into a ‘Digital Finance Company’; the culture of Agile has been introduced to enable a dynamic organization culture by facilitating composition of teams. This was based on the judgment that an agile and flexible organization is required to become a ‘Digital Finance Company’.

Based on the philosophy of ‘agile’, the company underwent a reshuffle; where the entire organization was aligned to a ‘Division-Department-Team’ structure with flexible teams, except for few ‘fixed teams’ that are necessary for supervisory and regulatory purposes; the department head now has the discretion to build and dissolve any team within that department.

In line with the digital and agile culture, Hyundai Card also reconfigured the office layouts removing the partitions between desks; the agile culture is also reinforced by movable and height-adjustable desks.[20]

Digital Transformation Hyundai Card[edit]

Digital Hyundai Card is a service provided through smartphone application offering customers with a more convenient and securer way to use a credit card.[21]

Digital Hyundai Card Project[edit]

The Lock service allows users to shut down their card function whenever they want, with a swipe on the credit card app. Limit, on the other hand, can be used to set credit limits for certain time periods. The Virtual Card Numbers prevent card identity theft online by providing users with a set of numbers that can replace the customers’ actual credit card information online. The PayShot makes online shopping easier by simplifying the payment process. Shoppers only need to log into one of seven different online shopping malls when using their Hyundai cards.[22][23] Chameleon allows the user to have multiple Hyundai cards on one card and select the card with benefits of his choice in Hyundai card application.[24] Buddy is an AI chatbot service that offers real-time counselling on inquiries about Hyundai card.[25] OverseaTranfer is Hyundai card members can wire money to the Hyundai card payment account without registering a bank account number by paying only KRW 3,000 of remittance fee per transaction.[26]

Mobile APP Service[edit]

Hyundai Card’s Single Sign-on service based on blockchain technologies has been adopted to ‘Hyundai Card’, ‘M Point Mall’, and ‘MY MENU’ applications that are frequently used and requires log-in. The user can enjoy services of each application just as a single service; as designed based on ‘Blockchain’ technologies, the service boasts user-friendliness and a high level of security.


Space Branding[edit]

Vinyl & Plastic by Hyundai Card, opened in June 2016, located in Itaewon in Seoul, Korea, boasts curated collections of over 4,000 vinyl LPs and 8,000 CDs, covering a wide variety of musical genres. Storage by Hyundai Card, located in the same building as Vinyl & Plastic, is an exhibition space showing a selection of contemporary pieces from a variety of disciplines, spanning art, film, architecture and design.[27] Hyundai Card Music Library & Understage, opened in May 2015, are located on the main street of Itaewon in Seoul. The library is where visitors can enjoy an analogue music culture while the "Understage" is a cultural space for musicians of all genres; the library features collections of more than 10,000 vinyl albums including around 250 rare albums since the 1950s and onward. There are also 3,000 music related publications; the Understage aims to host a wide range of performances.[28] Hyundai Card Travel Library, opened in May 2014, is filled with 15,000 books and maps of 91 different cities in Chungdam-dong in Seoul, Korea. Designed by the interior designer Katayama Masamichi of Wonderwall with the concept of “stock of curiosity”, the Library not only features a book collection based on 13 themes but also contains elements that touches different perspectives of travel.[29] In February 2013, Hyundai Card Design Library, located in Gahoe-dong, central Seoul, displays 11,500 design-related books that have been published at home and abroad. About 70 percent of the books are rarely procured across the world, among which about 3,000 books are either out of print or had not been introduced here.[30] Hyundai Card Card Factory is located in Hyundai Card HQ 3, and shows the whole automated process of card production from plate issuance to the reviewing and packing.[31]STUDIO BLACK and FINß offer startups various shared and incubation offices thereby providing the opportunity and space for creators to come together. Hyundai Card COOKING Library is a space that captures knowledge, culture, and lifestyle allowing everyone to experience culinary charm with five senses.[32]

Culture Branding[edit]

A total of 28 sessions of Hyundai Card Culture Project have been held since 2011, ranging from musical concerts to exhibitions and others.[33] Hyundai Card Super Concert has featured world-renowned superstars such as R&B artists Usher and Beyonce, singer-songwriter Billy Joel and former Beatle and pop artist Paul McCartney.[34] Approximately 100,000 concertgoers witnessed the very first performance of the British rock band Coldplay in Korea over the span of 2 days.[35]

Corporate Social Responsibility[edit]

1913 Songjeong Station Market Project is the latest work of Hyundai Card’s market renovation and revitalization project. The 103-year-old Songjeong Station Market, Gwangju, was given some trim and facelift resulting in a jump of daily visitors to 4,300 in May 2016 from 200 in May 2015.[36] Bongpyeong Market Project in 2014 conserved the basic infrastructure of the market and adopted exterior design in each shops under the slogan of “Development for Sustainability”, encouraging merchants to strive for change.[37] Dream Realization Project has helped mom and pop store owners to give a boost to their operation by adopting design factors. A total of 10 stores ranging from grocery, bistro, beauty shop, delicatessen and others have been provided with management consulting, interior redesigning and others to change their operations; the stores have since then seen a sales rise by an average of two-folds.[38]Hyundai Card Gapado Project is The Gapado Island situated off the southern coast of Jeju Island at one point in time experienced damage. Hyundai has with steadfast efforts turned Gapado Island into a success story and continues its transformation towards becoming a sustainable island where ecology, economy, and culture tranquilly co-exist.[39]


  1. ^ 현대카드, 새로운 10년 위한 변화의 서막 열다,Economy Chosun, August 8, 2013
  2. ^ Successful Joint Venture Boosts Hyundai Card, The Korea Times, June 10, 2009
  3. ^ Shaking Up Korea, Bloomberg Market, January 30, 2013
  4. ^ 현대카드, 새로운 10년 위한 변화의 서막 열다, Economy Chosun, August 8, 2013
  5. ^ 현대카드 ‘세이브 포인트 제도’, Seoul Economy, May 19, 2006
  6. ^ Hyundai Card unveils portfolio makeover, The Korea Herald, June 24, 2013
  7. ^ Successful Joint Venture Boosts Hyundai Card, The Korea Times, June 10, 2009
  8. ^ 현대카드, 신용카드 634만명 가맹점 228만여 개, Newstown, November 23, 2015
  9. ^ 현대카드, 신용카드 634만명 가맹점 228만여 개, Newstown, November 23, 2015
  10. ^ 디지털로 확 바꾼 현대카드 ‘한국판 구글’ 꿈꾼다, Maeil Business News Korea, May 19, 2016
  11. ^ A swipe at profits, The Economist, November 9, 2013
  12. ^ 현대카드-더 퍼플, 상위 5%만을 위한 프리미엄 카드, Hankyung, December 19, 2006
  13. ^ 현대카드/더 레드, FinancialNews, March 15, 2011
  14. ^ With Numbers Without Numbers 2016 Hyundai Card, 2016
  15. ^ With Numbers Without Numbers 2016 Hyundai Card, 2016
  16. ^ With Numbers Without Numbers 2016 Hyundai Card, 2016
  17. ^ With Numbers Without Numbers 2016 Hyundai Card, 2016
  18. ^ With Numbers Without Numbers 2016 Hyundai Card, 2016
  19. ^ With Numbers Without Numbers 2016 Hyundai Card, 2016
  20. ^ 현대카드 `디지털 DNA` 실리콘밸리형 조직 개편, MK News, March 21,2018
  21. ^ New logo for Hyundai Card, Korea Joongang Daily, May 30, 2016
  22. ^ New logo for Hyundai Card, Korea Joongang Daily, May 30, 2016
  23. ^ Hyundai Card sets models for going mobile, The Korea Herald, December 18, 2015
  24. ^ Hyundai Card breaks out of box with ‘Chameleon’,The Investor, June 05, 2017
  25. ^ Hyundai Card's new app cuts overseas money transfer costs,The Investor, June 21, 2018
  26. ^ Hyundai Card starts app-based foreign exchange wire service,Pulse, April 16, 2018
  27. ^ Plastic fantastic: Wallpaper* visits Seoul’s latest music hub, Vinyl & Plastic, Wallpaper, August 9, 2016
  28. ^ Tune in: Hyundai Card Music Library opens in Seoul, Wallpaper, June 15, 2015
  29. ^ Katayama Masamichi Designs Hyundai Card’s 196-Country “Travel Library”, blouinartinfo, August 12, 2014
  30. ^ Hyundai Card opens world’s largest design library, The Korea Herald, February 18, 2013
  31. ^ Money makers: tour the new Hyundai Card Factory in Seoul, Wallpaper, August 3, 2015
  32. ^ esign library opened in Seoul, dongailbo, February 19,2013
  33. ^ New ‘Culture Project’ brings Ke$ha to Korea, The Korea Times, February 16, 2011
  34. ^ It’s not superstition: Stevie Wonder returns to Seoul, Korea Joongang Daily, July 12, 2010
  35. ^ Coldplay to hold the first concert in Korea,dongailbo, November 16,2016
  36. ^ 103-year0old market gets rejuvenated, The Korea Times, May 26, 2016
  37. ^ Hyundai Card adopts innovative design for cultural patronage projects, Korea Joongang Daily.,December 21, 2014
  38. ^ 현대카드, 드림실현 프로젝트 ‘우리동네 슈퍼’ 오픈, ETNEWS, January 11, 2016
  39. ^ Tiny island undergoes beautification project, The Korea Times, April 9, 2018

External links[edit]