MUSINSA Hyundai Card: a must-have item for fashionable people

Hyundai Card and MUSINSA unveiled MUSINSA Hyundai Card on April 12.

MUSINSA Hyundai Card is a private label credit card (PLCC) jointly launched by the leading fintech firm and a top fashion e-commerce platform. They have come up with discount benefits for the cardholders, using their branding and data science capability to analyze the spending patterns of millennials and Generation Z.

MUSINSA Hyundai Card has been designed to offer a 5% discount on the payments made at soldout, an online market run by MUSINSA that sells limited-edition fashion items. When cardholders shop at MUSINSA Store and benefit from the discounts offered by the credit card, all discount coupons issued by the store may apply redundantly. Cardholders may also earn back cash-like rewards for use at MUSINSA, equivalent to 1% of all transactions made with MUSINSA Hyundai Card.

MUSINSA Hyundai Card comes in eight different plate designs that have re-interpreted MUSINSA’s identity and diverse fashion materials such as MUSINSA magazine, sneakers and jeans. Annual fee is 10,000 won ($8.9) for domestic use only and for both domestic and overseas use (partnership with MasterCard).

Hyundai Card plans to stage two special promotional events for MUSINSA Hyundai Card customers. Those who spend 21,000 won or more at MUSINSA Store may receive an instant discount of 20,000 won by the end of this year. Among who spend 50,000 won or more at MUSINSA Store by April 25, Hyundai Card will give away limited-edition sneakers such as “Air Jordan 1 Retro High OG X Travis Scott” and “Nike SB Dunk Low Pro Chicago” to eight lucky draw winners. Only customers who have registered their MUSINSA Hyundai Card with MUSINSA PAY (online payment) will be eligible for the events.

MUSINSA is Korea’s 10th unicorn, with 8 million registered users and 5,700 brands on sale. Almost 70% of its customers are teenagers and twenty-somethings, an indication the store has avid fans among millennials and Generation Z, whom Koreans often define as “Generation MZ.”

Further details on MUSINSA Hyundai Card and related events can be found at Hyundai Card app, its homepage, MUSINSA app and its homepage.

Hyundai Card app, homepage and also MUSISNA app and homepage.

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