Lotte Card launches new products after losing 82,000 members

  • Lotte Card launched two co-branded cards and resumed customer-recruitment initiatives.
  • 82,000 members left between the end of July and the end of August.
  • Lotte Card will add three sales offices by November, reaching 10 locations.

Lotte Card is accelerating customer-acquisition efforts after its 45-day operational suspension led to an 82,000-member decline in August. The company released the education-focused YBM X Digiloca card on August 16, offering 20% discounts on YBM language examinations, including TOEIC and TOEIC Speaking, as well as YBM Language Institute and online lecture fees. On the 21st, it launched the Daiso N Loca card with Asung Daiso, providing discounts of up to 25,000 Korean won based on monthly spending at Daiso. Lotte Card is also expanding its sales-office network from seven to 10 locations by November, adding branches in Suwon, Nowon and Busan. Its Loca Partners recruiter program has resumed, while applications for the new cards are available through partner companies' online, offline and app-based channels. Personal credit-card members fell from 9.648 million at the end of July to 9.566 million at the end of August, reversing monthly net growth of more than 20,000 members recorded from May through July. A Lotte Card official said the company plans to broaden its customer base through diversified sales channels and products while improving profitability, asset soundness, funding diversification and cost efficiency.

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