Nowadays, almost everyone uses credit card, including many Sookmyungians. The Sookmyung Times (SMT) in this issue, met Lim Nam Hun of Samsung Card and heard about the job and how to a manage a wise life financially.
SMT Introduce your job, please.
LIM The business of credit cards is basically operated by the process of extending and receiving credit. There are
various kinds of people in the society from those who have trustworthy credit to those who have bad credit. There are even some people who don’t have credit. We also work for them to gain a credit and to become recognized by society. Also, one of main businesses of credit cards is marketing because we are dealing with plenty of stomers. We create a database by analyzing patterns of using credit cards. I, as a chief of that department, think it’s an attractive job to understand many people’s patterns and give them a delight through giving a compensation at the
SMT How did you get this job, is there any special reason?
LIM When I was thinking what kind of job I would want to have in a foreign country; at that time, the credit card business had bright prospects, so it was one of the reasons. Also, I wanted to have a job that can contribute to society. Many developed countries are already turned into credit societies, and credit cards have a great effect on how we can participate in global society. When people evaluate one country’s credit, the first thing they check is
evaluating the risk of credit cards. By managing the credit, we raise recognition of our country. Besides, these days, by using credit cards, many people can have a more convenient life.
SMT What is your opinion of university students’ using a card?
LIM We need to compare our situation with foreign countries. In other countries, they start their economic life when they enter the elementary school, with their parents; they go to the bank and open an account. They do a bank deposit and get to know the delight of making money. Through the money they go to travel, go to school
and do what they want. When they enter the university, they start to use credit. Through this process, they know how much they need to manage their life properly. However, many students in Korea don’t know how to plan the finances they face and it seems they don’t have a notion to manage it. Sometimes they ask their parents to pay. Athough it’s getting better compared with the past, we know we have a social problem of university students’ indiscreet use of credit cards in the past. Still the circumstances in which students are placed are the same with that time. It’s really important to plan ahead when using credit cards. And from the start you need to accustom yourself to reliable credit life by using an account book or by writing your personal income and expenses. Through this habit, you will have more stable life when you start social life.
SMT What is the biggest financial problem for university students?
LIM The biggest problem is they don’t earn the money they use. That is your income as a dependent. It means you are controlled by other people and you’ve got to get out of it. Actually, it would be difficult so I advise you to start from setting the amount of money how much you are going to be supported by your parents and how much is earned by yourself. Plus, you have to spend money for your vision. It’s not all going to learn English in an Institute. In my opinion, it’s obvious thing that if you spend expenses like money and time for something, there will be that much output. In this context, planning, again, is quiet important.
SMT What is your advice to students who want to work in the credit card business?
LIM As I said, this business is really attractive. Consequently, it’s quiet popular and many people apply for this job. First of all, if you are looking for to have this job, you have to raise your creativity, not only the theory you can learn in the class. You have to have an appreciative eye of seeing things in a fresh perspective. So you have to read as many books as you can read when you are a student. I think Korean students don’t read enough books compare with foreign students. You can have indirect experience. Look back at how many books you have read except books relating to your major and English text books. Another thing is reading economic newspapers. Through it
you can see how our society is through the perspective of reporters and experts, not by you. Lastly, as a major part of the credit card business is marketing, other than studying marketing, it would be helpful for you to analyze people’s behavior and see how the theory is applied in our real life. Also always focus on media, what marketing method is in that.
SMT Lastly, advise Sookmyungians with any advice for life.
LIM To look back on my life, I had a chain of events everybody else had. And occasionally, I had chance determine many things, such as what school I would go, what kind of job I would take. Sometimes, I made a decision myself and sometimes I listened to other people’s opinions. What I want to tell you is you have to prepare what you are going to decide before the time arrives. Through this you can make choices with no regret. As well, I hope you as university students listen and read many seniors’ experiences and reduce the process of trial and error.