Samsung Card(029780) retook the No. 1 spot in general payment amount in the first half of this year for the first time in three years, overtaking Hyundai Card. The "Thank-you Festival" that Samsung Electronics(005930) ran for four weeks starting on June 8 also appears to have had an impact.
According to the Credit Finance Association on the 24th, total domestic personal credit card spending in the first half of this year was 404.9169 trillion won, up about 23 trillion won from the first half of last year (381.8768 trillion won). Excluding national and local government tax payments, Samsung Card's general payment amount was 69.4017 trillion won, ahead of Hyundai Card (67.4058 trillion won). This is the first time in three years since the first half of 2023 that Samsung Card's market share has surpassed Hyundai Card's.
By payment type, Hyundai Card (56 trillion won) outpaced Samsung Card (50 trillion won) in lump-sum payments, but Samsung Card (18 trillion won) far outpaced Hyundai Card (11 trillion won) in installments.
Samsung Card's strong installment spending appears to stem from synergy with Samsung Electronics, which sells large home appliances. To share semiconductor excess profits with the public, Samsung Electronics ran a "Thank-you Festival" that awarded Onnuri gift certificates worth 20% of the purchase amount to customers who bought Samsung Electronics products. In addition, on Samsung.com, the Samsung Electronics online store, customers who pay with Samsung Card or KB Kookmin Card can receive a 7% discount and 12-month interest-free installments.
Based on total payment amount including taxes, Shinhan Card maintained the No. 1 position with a market share of 18.53%. However, the gap with No. 2 Samsung Card (18.31%) narrowed by 0.35 percentage points, from 0.57 percentage point(s) last year to 0.22 percentage point(s) this year.
Following Shinhan Card and Samsung Card were Hyundai Card (17.01%), KB Kookmin Card (14.66%), Lotte Card (8.98%), Woori Card (7.02%), NH NongHyup Card (6.81%), Hana Card (6.14%), and BC Card (2.54%).
Woori Card rose to sixth place, overtaking NH NongHyup Card in both total and general payment amounts in the first half of this year. The only card companies whose total payment amount increased by more than 4 trillion won in the first half were Samsung Card (5.234 trillion won) and Woori Card (4.2841 trillion won). An official at a card company said, "Recently, Woori Card has been pursuing change and diversity and is recruiting personnel from other card companies."