In the first half of 2023, the four major card companies - Samsung, Shinhan, KB Kookmin, and Hyundai Card - recorded a net income of 968 billion won, a 4.2% increase compared to the same period last year. This result reflects improvements in delinquency rates and cost management efficiency. Notably, Shinhan Card strengthened its profitability through corporate market penetration and improved performance from overseas subsidiaries. KB Kookmin Card achieved significant growth due to an increase in card usage amount and a decrease in allowance for doubtful accounts. Hyundai Card led to an increase in membership by enhancing the competitiveness of lifestyle products and improving payment convenience. However, it is necessary to consider the possibility of an increase in delinquency rates in case of an economic recession.
