Homeplus has temporarily closed all its stores, prompting varied responses from the card issuers associated with its affinity cards. KB Kookmin Card has halted new issuances, while Shinhan Card has restricted online applications. In contrast, Samsung Card continues to operate without any special measures.
According to the card industry on July 14, the companies managing Homeplus affinity cards include KB Kookmin Card, Shinhan Card, and Samsung Card.
KB Kookmin Card suspended the issuance of new, additional, and replacement Homeplus affinity cards, as well as family card applications, last week. However, existing members can still renew their cards and request replacements for lost or damaged cards.
Shinhan Card has not fully suspended operations but has deactivated the online application feature. Product information remains available on its website, and customers can still apply through phone channels.
A Shinhan Card representative stated, "This measure is to prevent customers from applying for cards without knowing they cannot utilize Homeplus benefits. We are keeping the product available to reopen online applications based on court decisions and business conditions."
Samsung Card is maintaining normal operations for card applications and usage. A Samsung Card representative noted, "No decision has been made regarding a suspension of issuance. Currently, all applications and usage are possible, and we will wait for the court's final judgment."
However, since the primary benefits of Homeplus affinity cards are discounts and rewards associated with shopping at large stores, questions arise about the appropriateness of continuing new applications while all stores are temporarily closed. If consumers join without fully understanding the current operational status and potential limitations on benefits, it could lead to complaints regarding annual fees or service provision in the future.
An industry insider remarked, "Halting new issuances is not the only solution, but it would be a more proactive response in terms of consumer protection to clearly inform new customers about the current situation and limit applications if necessary, regardless of waiting for the court's decision."
Addressing the situation for existing members remains a challenge. While card companies maintain the usage and agreed-upon benefits, the closure of Homeplus stores significantly limits the scope of discounts and rewards. Currently, there are no separate measures for annual fee refunds or additional compensation, and if a card is canceled, the remaining annual fee will be refunded based on relevant criteria. Accumulated Homeplus points can be used at the still-operating Homeplus Express stores.
On July 3, the Seoul Rehabilitation Court decided to terminate the rehabilitation process for Homeplus. If the company fails to secure necessary operating funds or a new buyer by July 20, it faces a high likelihood of entering bankruptcy proceedings. Should bankruptcy occur, card issuers will need to prepare follow-up measures regarding alternative benefits and the handling of existing points.
* This article has been translated by AI.
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