KB Kookmin Card, UnionPay to cooperate on marketing

South Korea's KB Kookmin Card said on Tuesday it signed a memorandum of understanding (MOU) with China's UnionPay to cooperate on marketing. 

On November 22, the Chinese Foreign Ministry extended the period for visa-free entry for South Korean citizens from 15 days to 30 days.

The agreement aims to boost collaboration between the two companies beyond South Korea and China, expand their reach in the global payments industry, and enhance overseas marketing campaigns.

Under the MOU, the two companies plan to offer tailored payment solutions for South Korean and Chinese consumers and launch joint promotions to boost tourism and economic exchange.

In particular, they intend to focus on joint marketing initiatives to enhance global brand recognition.

Write to Mi-Hyun Jo at mwise@hankyung.com