Samsung emerges as No.2 Korean credit card

Samsung Card's market share reached 14.1 percent in the second quarter of last year.

This development placed the credit card company in the No. 2 position among local players, trailing only Shinhan Card Co. with 20.8 percent and outpacing rivals such as KB Kookmin Card Co. and Hyundai Card Co.

KB Kookmin Card and Hyundai Card accounted for 13.3 percent and 12.7 percent, respectively.

The increased presence of Samsung Card came as the company successfully launched a new credit card service specifically designed to target different age groups and genders, according to the sources.

The market share of KB Kookmin Card declined as the firm decided to focus more on its debit card business, which dented profits from card loans, they said.

The market share of Lotte Card Co. reached 8.8 percent in the April-June period last year, up 0.2 percentage point from three months earlier. Hana SK Card Co. took up 3.8 percent.

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