Naver and Hyundai Card are launching the “Naver Hyundai Card Edition 3” on Jan. 26, introducing a 5% baseline Naver Pay point accumulation rate for purchases made on the Naver Plus Store, according to an announcement by Naver. The new co-branded credit card (PLCC) lowers annual fees and previous month spending requirements compared to its predecessors while boosting shopping rewards for platform members.
Under the new structure, the baseline accumulation applies to purchases on the Naver Plus Store up to a monthly cap of 15,000 points. Additionally, Naver is running a “Double Accumulation Promotion” through July of next year, allowing users to earn up to 10% back, capped at 30,000 points per month, according to the company’s release.
Stacking Rewards and Membership Benefits
Users who subscribe to the Naver Plus Membership can stack card rewards alongside standard membership perks. According to Naver, cumulative monthly purchases up to 200,000 won earn an additional 5%, while spending between 200,000 won and 3 million won earns 2%. When combined with the card’s promotional rates, total rewards can reach up to 15% of the purchase amount, translating to a maximum of 96,000 points per month.
The Edition 3 card is specifically tailored for frequent shoppers within the Naver Plus ecosystem. Naver reported that users who combine the Naver Plus Membership with the Naver Hyundai Card record a monthly average purchase volume 1.4 times higher than members who only use the standard subscription service.
Card Availability and Strategic Outlook
The original Naver Hyundai Card debuted in 2021 as a PLCC product and has since surpassed 1.2 million cumulative issuances. The updated Edition 3 is issued in three distinct design options. Application and issuance opened at 2 p.m. on the launch date through the official Naver and Hyundai Card mobile applications and websites.
“We are continuously upgrading our reward structures and partnership scopes so that membership users feel greater tangible benefits the more frequently they visit and use Naver shopping,” said Hanna Jeong, Naver Membership Leader, in a statement. She added that the company plans to expand collaborations with various partners to broaden the value of the Naver Plus Membership across shopping, digital content, and offline retail.
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