Seoul, Korea – April 27, 2020 – Korean Air Lines and Hyundai Card jointly rolled out a credit card designed to offer airline bonus miles and related benefits, the credit card company said. The Korean Air Lines-branded private label credit card is the first of its kind in Korea.
Korean Air Lines, the nation’s No. 1 carrier, took the lead in the card benefit design. Affiliated with the Korean Air Lines Skypass, a frequent flyer program, the card comes in four types according to annual fees. The card turns purchases into heftier bonus miles than other conventional airline mile cards out there, providing various travel-related benefits such as discount coupons for flight tickets and duty free shopping.
Three of the four types of the so-called Korean Air Lines X Hyundai Card PLCC carry three-digit numbers taken after flight codes: 030, 070 and 150. The fourth type is “the First,” which caters only to the Sky Pass Morning Calm members.
All of the four offer 1 mile per 1,000 won ($0.82) spent with the card and extra 1 to 4 miles per 1,000 won payments on the Korean Air Lines tickets, hotel stays as well as at duty free stores and overseas. Subscribers to either 150 or the First cards who have spent over 10 million won in the previous year will be given complimentary miles of between 5,000 and 15,000.
Basic benefits for all subscribers include free access to airport lounges; discounts at designated cafes; free parking at specific buildings; 20 percent discounts on Hyundai Card Super Concert tickets; and free admission to four Hyundai Card Libraries – design, travel, music and cooking.
Under the private label credit card partnership, Korean Air Lines and Hyundai Card burden product development costs and share revenues and profits, a win-win for both companies. When it comes to conventional credit cards for travel miles, by comparison, credit card issuers are supposed to manage all the expenses and revenue from the card products. Partners are merely in charge of attracting subscribers.
Annual fees for 030, 070 and 150 are 30,000 won, 70,000 won and 150,000 won each, and the First charges 500,000 won per year. Application can be made at the Hyundai Card homepage or mobile application and any new subscriber through May 31 will receive complimentary 5,000 miles.
Subscribers to 030, 070 and 150 Korean Air X Hyundai Card may choose from three card plate designs in the upper row and one at the center in the lower row. Those subscribing to the First may pick between far left and far right in the lower row.