Lee Kang Hyuk, Vice President of BC Card, Xu Luode, President of China UnionPay, and Lee Cham, Director of Korea Tourism Organization attended the signing ceremony.

According to the Memorandum of Understanding, CUP will encourage domestic commercial banks to issue ‘Korea Tourism Card,’ a customized credit card product specially designed for Chinese tourists visiting Korea. The card provides various value-added services including discount service at major department stores, duty free shops, hotels, amusement parks, ski resorts, etc.

BC Card commented that the number of Chinese tourists visiting Korea hit 60 million and the sales volume paid by CUP card in Korea reached KRW 500 billion in 2010. Korea Tourism Card will attract more Chinese tourists to visit Korea, which will increase their card spending as well.

Korea Tourism Card will be issued by CUP member banks starting this December and more than 3 million cards are expected to be issued in the next three years.