By Yi Whan-woo
Banks are hiring celebrities in their 20s or 30s as advertising models, to better appeal to the so-called "MZ generation," a Korean term referring to millennials and Generation Z.
The strategy is believed to be aimed at refreshing banks' brand images amid the rapid transition to digital banking which is preferred by the young generations.
The banking industry in the past was more open to hiring celebrities across age groups, such as late TV show host Song Hae who starred in Industrial Bank of Korea (IBK) ads before he passed away last month at age 95.
On Monday, Hana Bank announced that 22-year-old actress Kim Yoo-jung will be its new featured model, in addition to top Premier League player Son Heung-min who has appeared in the bank's marketing content since May 2018. Son turns 30 this week.
"We decided to work with Kim because her lively and friendly image matches with the corporate values that we aspire to," Hana Bank said in a press release.
In relation to Son, the company expressed hopes that the footballer and Kim can "represent its efforts to connect to all generations through new and innovative services."
Kim will star in a commercial for a digital banking service being developed in regard to MyData, the government-led project aimed at allowing licensed service providers to collect and analyze personal data from across the finance sector.
KB Kookmin Bank released a short video in February for its banking app Liiv M, starring Song Kang and Kim Do-yeon.
The footage is themed on a romance between Song and Kim, both in their 20s, who played leading roles in multiple TV dramas and are popular among the MZ generation.
Last September, KB Kookmin Bank also released video footage starring K-pop girl group aespa for Liiv M.
The YouTube upload received more than 745,000 views soon after its release, with numerous replies posted in different languages and from different countries.
KB Kookmin Bank assessed back then that the video's theme of connecting real and cyber spaces appealed to young viewers in various locations globally.
Woori Financial Group selected K-pop solo singer IU for its new commercial after ending 23 years of government-led ownership and becoming privatized in December.
The banking group said its decision came after IU received the highest number of recommendations in a survey of its employees aged between 20 and 50 concerning who will be suitable as the new commercial model.
Known as a singer and actor, IU could also have a positive impact on donation and charity drives.
"Her spirit of professionalism and philanthropy is exactly in line with the environmental, social, and corporate governance (ESG) leadership pursued by Woori Financial Group," the company explained.
At IBK, actor Lee Je-hoon has succeeded Song Hae as its main promotional model.
Lee, 38, has starred in numerous dramas and movies, including the 2020 Netflix original film "Time to Hunt."
In 2019, he was named a "model taxpayer" by the National Tax Service and served as its promotional ambassador for a year.
Banks are hiring celebrities in their 20s or 30s as advertising models, to better appeal to the so-called "MZ generation," a Korean term referring to millennials and Generation Z.
The strategy is believed to be aimed at refreshing banks' brand images amid the rapid transition to digital banking which is preferred by the young generations.
 |
| A promotional image for Hana Bank's MyData service starring actress Kim Yoo-jung / Courtesy of Hana Bank |
On Monday, Hana Bank announced that 22-year-old actress Kim Yoo-jung will be its new featured model, in addition to top Premier League player Son Heung-min who has appeared in the bank's marketing content since May 2018. Son turns 30 this week.
"We decided to work with Kim because her lively and friendly image matches with the corporate values that we aspire to," Hana Bank said in a press release.
In relation to Son, the company expressed hopes that the footballer and Kim can "represent its efforts to connect to all generations through new and innovative services."
Kim will star in a commercial for a digital banking service being developed in regard to MyData, the government-led project aimed at allowing licensed service providers to collect and analyze personal data from across the finance sector.
KB Kookmin Bank released a short video in February for its banking app Liiv M, starring Song Kang and Kim Do-yeon.
The footage is themed on a romance between Song and Kim, both in their 20s, who played leading roles in multiple TV dramas and are popular among the MZ generation.
Last September, KB Kookmin Bank also released video footage starring K-pop girl group aespa for Liiv M.
The YouTube upload received more than 745,000 views soon after its release, with numerous replies posted in different languages and from different countries.
KB Kookmin Bank assessed back then that the video's theme of connecting real and cyber spaces appealed to young viewers in various locations globally.
Woori Financial Group selected K-pop solo singer IU for its new commercial after ending 23 years of government-led ownership and becoming privatized in December.
The banking group said its decision came after IU received the highest number of recommendations in a survey of its employees aged between 20 and 50 concerning who will be suitable as the new commercial model.
Known as a singer and actor, IU could also have a positive impact on donation and charity drives.
"Her spirit of professionalism and philanthropy is exactly in line with the environmental, social, and corporate governance (ESG) leadership pursued by Woori Financial Group," the company explained.
At IBK, actor Lee Je-hoon has succeeded Song Hae as its main promotional model.
Lee, 38, has starred in numerous dramas and movies, including the 2020 Netflix original film "Time to Hunt."
In 2019, he was named a "model taxpayer" by the National Tax Service and served as its promotional ambassador for a year.
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