CJ ONE and Idongui Jeulgeoum to launch transit card for foreign tourists this year
In short
CJ OliveNetworks (CJ올리브네트웍스), which runs the CJ ONE membership service, signed a business agreement with mobility fintech firm Idongui Jeulgeoum (이동의즐거움). They plan to launch a transit card for foreign visitors to South Korea within the year. Holders can ride public transport and earn and spend CJ ONE points at partner outlets.
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CJ OliveNetworks (CJ올리브네트웍스) said on the 20th that its CJ ONE membership service will launch a transit card for foreign visitors to South Korea within the year. It signed a business agreement with mobility fintech firm Idongui Jeulgeoum (이동의즐거움), according to Yonhap and Chosun Ilbo. [ 1 , 2 ]
Chosun Ilbo and Seoul Economic Daily reported that the agreement was signed on the 19th at Idongui Jeulgeoum's headquarters in Jung District, Seoul. Chosun Ilbo said CJ OliveNetworks chief executive Yoo In-sang (유인상) and Idongui Jeulgeoum chief executive Lee Jeong-hwan (이정환) attended the ceremony. [ 2 , 4 ]
The card combines the CJ ONE membership with the transit function of Idongui Jeulgeoum. Foreign tourists can use public transport with a single card and earn or spend points at CJ ONE partners. The card is to be supplied through Idongui Jeulgeoum's distribution network, including airports and convenience stores. [ 1 , 2 , 4 ]
Yonhap reported that CJ ONE launched CJ ONE Global on the 14th, which people can join by email verification and use to earn and spend points. According to Yonhap, the new cooperation extends member benefits centred on tourism, shopping and dining into mobility, and aims to increase sign-ups by visiting tourists. Chosun Ilbo and Seoul Economic Daily said the aim is to let visitors use CJ ONE across the whole trip, from airport arrival to transport, shopping, dining and culture. [ 1 , 2 , 4 ]
The companies also plan benefits for domestic members. Chosun Ilbo and Seoul Economic Daily said specific measures for people using public transport are still to be prepared. The firms will also look for joint business models such as advertising and marketing, using membership and payment infrastructure. [ 1 , 2 , 4 ]
Chosun Ilbo described Idongui Jeulgeoum as a company that builds and runs public transport infrastructure in more than 120 local governments, offering Ijeul card (이즐카드), Mobile Ijeul (모바일이즐) and Tagless prepaid-card-based payment and mobility services. It reported that the firm's gross merchandise value last year exceeded 7.2 trillion won. [ 2 ]
Yoo In-sang was quoted as saying the company would build an ecosystem covering the varied lifestyles of customers at home and abroad. Chosun Ilbo quoted Lee Jeong-hwan as expecting that combining Ijeul's mobility and payment infrastructure with CJ ONE's lifestyle membership will make travel and spending easier for Koreans and foreigners. [ 1 , 2 , 4 ]
Why it matters
The companies say the card is meant to widen CJ ONE membership among foreign visitors and extend its benefits into transport. The documents give no launch date, price or user numbers, so its reach is not yet known.
Key facts
- CJ OliveNetworks said on the 20th that CJ ONE and Idongui Jeulgeoum had signed a business agreement. [ 1 , 2 , 4 ]
- The two firms plan to release a transit card for foreign visitors to South Korea within the year. [ 1 , 2 , 4 ]
- Foreign tourists can use one card for public transport and to earn and spend points at CJ ONE partners. [ 1 , 2 , 4 ]
- The card is to be supplied through Idongui Jeulgeoum's distribution network, including airports and convenience stores. [ 1 , 2 , 4 ]
- Chosun Ilbo and Seoul Economic Daily reported that the agreement was signed on the 19th at Idongui Jeulgeoum's headquarters in Jung District, Seoul. [ 2 , 4 ]
- Chosun Ilbo reported that Idongui Jeulgeoum has built and runs public transport infrastructure in more than 120 local governments, and that its gross merchandise value last year exceeded 7.2 trillion won. [ 2 ]
- The firms also plan transit benefits for domestic CJ ONE members and joint business models such as advertising and marketing. [ 1 , 2 , 4 ]
Confirmed by several sources
- CJ OliveNetworks and Idongui Jeulgeoum signed a business agreement to launch a transit card for foreign visitors within the year, announced on the 20th. [ 1 , 2 , 4 ]
- The card combines the CJ ONE membership with transit functions, so holders can use public transport and earn and spend points at CJ ONE partners. [ 1 , 2 , 4 ]
- The card is to be supplied through airports, convenience stores and other Idongui Jeulgeoum outlets. [ 1 , 2 , 4 ]
- The companies plan benefits on public transport for domestic CJ ONE members and joint advertising and marketing business models. [ 1 , 2 , 4 ]
Still unclear
- Exact launch date and price of the card The documents say only that it will launch within the year and give no date or price.
- What the transit benefits for domestic members will be Chosun Ilbo and Seoul Economic Daily said specific measures are still to be prepared.
- Idongui Jeulgeoum's gross merchandise value above 7.2 trillion won last year Only Chosun Ilbo gave this figure.