SINGAPORE , July 17, 2024 /PRNewswire/ -- Singapore bank UOB and leading South Korean card company Woori Card , a subsidiary of Woori Financial Group, today announced the signing of a Memorandum of Understanding (MoU) on a groundbreaking reciprocal card partnership, where cardholders from each company are able to enjoy card privileges from the other in their respective key operating regions. Both companies will study their respective cardholder spends in each other's countries to pick out the merchant privileges that are most desirable to their customers, with categories such as retail, dining, tourist attractions, travel and accommodation in focus. Some merchants who have already expressed interest in participating include fashion retailer Club 21, COMO Group dining establishments and Singapore's Marina Bay Sands, together with South Korea's Shinsegae Duty Free and SPC Group, renowned for their food and beverage chains such as Paris Baguette, Baskin Robbins and Shake Shack.

The full list of merchant privileges under the reciprocal partnership will be announced in the coming months. UOB and Woori Card Mastercard holders will be able to partake in this groundbreaking collaboration by the fourth quarter of 2024, in time for the year-end travel season, with Visa cardholders expected to join in the near future. "Travel has seen a dramatic surge especially in the years following the COVID-19 pandemic, as part of a broader trend of consumers prioritising spending on experiences.

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