CHINA UnionPay (CUP), a bankcard association headquartered in Shanghai, has issued more than 150,000 UnionPay credit cards in the Republic of Korea since February. The credit cards "Zhong Guo Tong", which literally means "Around China," were jointly issued by China UnionPay and ROK's leading credit card company BC Card Co Ltd (BC). CUP projections show that they would hit 1 million by February next year.