SEOUL, KOREA- KTIS, a communication service unit of KT Group, announced on July 9 that it signed an agreement with BC Card and China’s UnionPay International to promote joint business in Shanghai.
Under the terms of the MOU, KITS will release an online service “Korean Package” (tentatively named) targeting Chinese customers, while expanding service coverage on a gradual basis. UnionPay has 800 million customers with more than 200 financial institution members.
BC Card is the only Korean company which has been engaged in the credit card business together with UnionPay over the past eight years. BC Card will be responsible for providing support and connecting with Korean financial services on the UnionPay-based tax refund process.
KTIS, UnionPay, and BC Card will cooperate in the following four areas, including mutual link between UnionPay’s clients and KT Tourist Reward membership, global marketing, Korean Package services, and regional tourism products, UnionPay-based tax refund service development and operations.
