"Revitalizing the Economy with Local Currency Platform" KT and Easywell Join Forces

[Asia Economy Reporter Koo Chae-eun] KT announced on the 29th that it has signed a Memorandum of Understanding (MOU) to strengthen cooperation with Easywell in regionally focused services.

Through this MOU, KT and Easywell have decided to develop a regionally focused service platform called ‘KT Local Currency Regional Online Mall.’ The two companies will start by expanding services that allow the use of local currency untact (contactless) through local online malls operated on behalf of local governments by KT.

KT has also established detailed plans to gradually expand untact regionally focused services in the untact market, starting with the local online malls where local currency is used, including ▲purchasing various local products ▲securing promotional channels for small business owners ▲expanding online usage of local currency.

Through this, KT plans to continuously introduce services reflecting its experience managing local currency operations in regions such as Busan, Gimpo, Sejong, Ulsan, and Iksan. In particular, KT will strengthen the local currency ecosystem connecting local governments, citizens, and small business owners, and continuously discover services that increase the versatility of local currency.

Easywell is expected to play a role in developing the regionally focused service platform as well as managing and operating affiliated stores, leveraging its experience as the market leader in the consigned welfare market. Kim Jun-geun, Head of KT Incubation Division (Executive Director), said, “We plan to actively promote regionally focused services based on local currency to create a market where local small business owners and residents can coexist.” He added, “KT will take the lead in revitalizing the local economy by promoting untact businesses to recover the economy stagnated by COVID-19.”

This content was produced with the assistance of AI translation services.