Korea's Traders Wholesale Club launches paid membership program

S.Korea's big-box store Traders Wholesale Club officially launched its paid membership program called Traders Club on Sunday.

The store has secured about 560,000 subscribers through early-bird registration promotion since Oct. 4 when it changed its name from E-Mart Traders.

In line with the official launch, Traders also began to award its own points TR Cash to Traders Club members who purchase various members-only items. TR cash will be set aside according to the amount of shopping at Traders stores.

Traders operates its membership program in two options: the standard plan for an annual fee of 30,000 won ($23.7) and the premium plan for 70,000 won ($55.2). It gives cashback of 1% for the purchase for standard members and 2% for premium members.

Traders plans to accelerate product innovation and competitiveness with the latest membership launch. It will release more than 40 "big wave items" in January and about 10 items regularly every month.

Write to Jong-Kwan Park at pjk@hankyung.com