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CARDS & PAYMENTS | Cesar Tordesillas, Korea

Samsung, Shinhan to offer credit card for self-employed

Samsung and Shinahn will offer a credit card designed exclusively for Korea’s 2.5 million self-employed workers next month.

A memorandum of understanding has been signed by the Consumers’ Association to Save Small Businesses with Samsung Card and Shinhan Card to develop a credit card that offers benefits to those who are self-employed and run small neighborhood stores.

The card will include tax benefits and legal services as well as various offers that can be useful to the self-employed, such as a point system where one can gain points by using the card at a certain store, then use the points like money at another.

More points will be offered to those who use the card at small stores in neighborhoods to bring back consumers who are leaning toward large marts.

Samsung Card and Shinhan Card said they participated in the project to help revive small businesses and strengthen their consumer service. The companies regard it as a win-win situation since card sales could grow and the small businesses will gain profit thanks to the benefits offered through the card.

“We will offer differentiated services to provide substantial help to small self-employers,” said an official at Samsung Card.

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