The card industry is currently undergoing a significant transformation. In the past, a card company's competitiveness was determined by its number of members and merchants. The ability to issue cards and attract transactions was the key to success.
However, the advent of the AI era has changed the landscape. The ability to gather customer data, analyze it accurately, and integrate deeply into customers' daily lives now defines competitiveness.
Seong Young-soo, who became the CEO of Hana Card in 2025, has a realistic view of these changes as a manager.
Rather than focusing on flashy AI technologies, he is dedicated to creating a financial platform that operates effectively in customers' lives. With extensive experience in corporate finance, foreign exchange, and global business, he envisions the future of card services not merely as payment transactions but as a lifestyle finance ecosystem that combines data, platforms, and global networks.
Seong Young-soo's leadership in AI finance ultimately aims to evolve Hana Card into a global lifestyle finance platform centered around Travelog.
Travelog is not just a travel card; it is a data platform.
Seong Young-soo's career is distinct from that of a typical card industry CEO. He has over 30 years of experience at commercial banks and Hana Bank, specializing in corporate sales, foreign exchange, and corporate finance. After serving as the head of the foreign exchange business unit, CIB group leader, and corporate group leader, he rose to the position of CEO at Hana Card. Hana Financial Group chose him because they believed he was the right person to grow the corporate card market and global businesses like Travelog.
Since his appointment, he has focused heavily on Travelog. While many view Travelog as a card specialized for overseas travel, Seong Young-soo sees it differently. For him, Travelog is both a travel platform and a data platform. It accumulates information on where customers travel, where they spend, which brands they prefer, and their currency exchange patterns. In the AI era, this data becomes the most valuable asset.
Indeed, Travelog has experienced rapid growth since his appointment. It aimed to reach 10 million subscribers by mid-2025 and has since surpassed that milestone. It has also maintained its position as the leading platform in the overseas debit card market based on transaction volume.
Seong Young-soo is not merely interested in selling cards. He aims to integrate customers' travel, spending, currency exchange, and payment experiences into a single platform. He believes this is the core competitiveness in the AI finance era.
AI is not just technology; it is about customer experience.
Many financial companies discuss AI, emphasizing generative AI, AI agents, chatbots, and automation. However, Seong Young-soo's approach is somewhat different. He views AI not as a technology in itself but as a tool for innovating customer experiences.
For example, if a customer is planning a trip to Japan, AI can recommend the best time for currency exchange. It can analyze overseas payment patterns to suggest the most advantageous payment methods. It can also automatically provide benefits tailored to frequently used services at the travel destination. Ultimately, customers will experience more convenient financial services, even if they do not recognize the AI behind it.
Seong Young-soo focuses on this lifestyle-oriented AI. He believes the future of the card industry lies not in complex technologies but in the convenience that customers can feel. Therefore, Hana Card is expanding its travel ecosystem, including overseas QR payments, global partnerships, and airport lounge services. The strategy is to encourage customers to spend more time on the Hana Card platform and to utilize the accumulated data through AI.
In his inaugural speech, he stated, "Now is an opportunity to grow faster as the market order is being reshaped." This is not just a simple assertion; it reflects his understanding of the direction of change in the financial industry in the AI era.
Corporate cards and global business: two pillars of growth.
Another characteristic of Seong Young-soo's leadership is balance. While focusing on Travelog, he has not overlooked the corporate card market. Drawing on his expertise in corporate sales, he is cultivating the corporate card sector as a new growth engine.
Since his appointment, Hana Card has significantly increased its presence in the corporate card market. It has expanded its market share based on transaction volume and steadily increased the number of corporate members. Simplifying the decision-making process for the sales group leader and corporate headquarters has also enhanced execution capabilities as part of this strategy.
Interestingly, while Travelog and corporate cards may seem like entirely different businesses, they are actually aligned in the same direction. One focuses on global data, while the other centers on corporate data. In the AI era, both types of data are crucial. Consumer data alone cannot fully understand customers, nor can corporate data suffice. Seong Young-soo is building a data ecosystem that connects individuals and corporations, as well as domestic and international markets.
As a result, Hana Card has established itself as a key subsidiary within Hana Financial Group's non-banking sector. It continues to show stable trends in both net profit and growth, enhancing its status within the group.
The essence of AI finance is connectivity.
In the AI era, the core of the financial industry is connectivity. The days when banks, cards, securities, and insurance operated separately are fading. Customers want to access financial services from a single platform.
Seong Young-soo understands the importance of group synergy better than anyone, thanks to his experience as the head of Hana Bank's corporate group and CIB division at Hana Financial Group. He aims to develop Hana Card not just as a card company but as a lifestyle finance platform within Hana Financial. His goal is to connect consumer data and financial data, combining them with AI to create new value.
Of course, challenges remain. The success of Travelog does not directly translate into profitability. There are still hurdles to overcome between increasing platform subscribers and generating actual shareholder value. The market is also watching closely to see if Travelog's success can lead to long-term profitability and capital efficiency.
However, one thing is clear: Seong Young-soo is not a manager operating the card industry of the past but a leader preparing for the future of lifestyle finance platforms.
SWOT Analysis:
Strengths
Seong Young-soo's greatest strength is his expertise gained from extensive experience in corporate finance, foreign exchange, and global business. Having worked at Hana Bank, Hana Financial Group, and Hana Securities, he possesses the ability to collaborate across the group, which allows him to simultaneously grow both Travelog and corporate cards as dual pillars of growth. His notable achievements include surpassing 10 million Travelog subscribers and leading the overseas debit card market.
Weaknesses
There are evaluations that the pace of profitability improvement is somewhat limited compared to platform growth. Verification is also needed to determine whether Travelog's high recognition and subscriber growth will translate into long-term revenue generation. The growth limitations of the core card business remain a continuous burden.
Opportunities
The expansion of AI finance, the overseas payment market, increasing global travel demand, and data-driven hyper-personalized finance present significant opportunities for Seong Young-soo's leadership. Particularly, building a global lifestyle finance platform based on Travelog could secure differentiated competitiveness.
Threats
The acceleration of big tech platforms like Toss, KakaoPay, and Naver Pay entering the financial market poses a threat. The reduction of card fees and economic slowdown, along with consumer spending contraction, also present challenges. As AI competition intensifies, the costs of technology investment are likely to continue rising.
* This article has been translated by AI.
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