Credit Union Launches New K-Pass Debit Card Product

The National Credit Union Federation of Korea announced on February 2 that it has launched the "Credit Union K-Pass Debit Card" as part of the K-Pass project led by the Ministry of Land, Infrastructure and Transport.

The Credit Union K-Pass Debit Card provides a 20% discount on public transportation expenses within a monthly discount limit, based on the previous month's spending, in addition to the government-supported K-Pass refund benefits. The discount is available for postpaid transportation usage.

In addition, the card offers a 10% cashback benefit within the monthly discount limit at designated merchants, including everyday transportation (such as train tickets, express buses, and taxis), fuel and charging stations, telecommunications, delivery services, online shopping, online video streaming services (OTT), coffee franchises, and daily shopping.

If the previous month's spending is at least 200,000 won, a maximum monthly discount of 10,000 won is provided; if it is at least 600,000 won, the maximum monthly discount increases to 20,000 won. For the first two months, including the month the card is issued, these benefits are available regardless of the previous month's spending.

Additionally, a customer event will be held until the 31st of next month. Among those who apply for the event, 1,000 customers who make cumulative payments of at least 300,000 won with the Credit Union K-Pass Debit Card will be selected by lottery to receive a 30,000 won Naver Pay point coupon. Customers can participate in the event at their nearest credit union branch, through the MG The Banking app, or on the MG Card website.

A representative from the National Credit Union Federation of Korea stated, "We are pleased to participate in the K-Pass project, which aims to meaningfully reduce the cost of living for people who frequently use public transportation." The representative added, "Going forward, Credit Union will continue to contribute to balanced regional development as a community-based financial institution by planning products and events that provide many benefits to our members."

This content was produced with the assistance of AI translation services.