"Name It for Me" KT to Launch 'Ulsan Pay Delivery Service' Event Next Month

[Asia Economy Reporter Joselgina] Starting as early as March, delivery services will be available using ‘Ulsan Pay,’ the local currency operated by KT in Ulsan Metropolitan City. This service eliminates the commission fees that local small business owners usually have to bear when using delivery applications, leading to a surge in subscription inquiries even before the official launch.

On the 7th, KT announced that it will hold naming and promotional video contests to commemorate the launch of the ‘Ulsan Pay Delivery Service.’

The naming contest runs from the 8th to the 14th, where participants can suggest names for the Ulsan Pay Delivery Service. The promotional video contest runs from the 8th until March 14th, where participants can create and upload videos introducing the service. Not only Ulsan citizens but anyone interested in Ulsan Pay can participate through the contest page (ulsanpay.net).

The first-place winner of the naming contest will have their entry used as the official name of the Ulsan Pay Delivery Service. The promotional videos will also be used for service promotion purposes. The first-place winner of the naming contest will receive 300,000 KRW in Ulsan Pay, the second place 200,000 KRW, and participants will be entered into a draw to win AirPods Pro and GS25 coupons. For the promotional video contest, the first-place winner will receive 2,000,000 KRW in Ulsan Pay, the second place 500,000 KRW, and the third place 300,000 KRW, with Starbucks coffee coupons given as participation gifts through a draw.

The Ulsan Pay Delivery Service, scheduled to be launched by KT and Ulsan City in early March, will connect users from the Ulsan Pay app to delivery apps for easy ordering. Users can complete payment in one step using Ulsan Pay, attracting significant interest from Ulsan Pay users.

KT and Ulsan City expect the Ulsan Pay Delivery Service to be a considerable help to local small business owners. There are no commission fees when using the delivery app. Since it is Ulsan Pay, there are no fees on the payment amount, and the payment amount is settled within two days. KT stated, "Subscription inquiries from local small business owners have been coming in even before the official launch."

Launched in 2019, Ulsan Pay is a local currency service based on KT’s Good Pay platform, currently boasting over 327,000 members and about 29,600 QR payment merchants. Payments can be made not only via QR codes but also by card. Following the linked service ‘Ulsan Mall (Ulsan Pay payment shopping mall),’ the launch of the Ulsan Pay Delivery Service next month is expected to significantly benefit the local economy.

Kim Jong-chul, Head of KT Blockchain Biz Center (Executive Director), said, “Noticing the sharp increase in delivery usage as untact (contactless) culture becomes widespread, we prepared the Ulsan Pay Delivery Service. KT will actively utilize the capabilities of a digital platform company to continuously introduce various services so that Ulsan citizens and small business owners can use Ulsan Pay safely and effectively.”

Meanwhile, KT operates Good Pay services for seven local governments, including Ulsan Pay in Ulsan City and Dongbaekjeon in Busan City (currently recruiting new businesses). KT Good Pay is a blockchain-based online local currency service that addresses the inconveniences of traditional paper and prepaid cards. Additionally, KT utilized the Good Pay platform to introduce Soyang Energy Pay, Korea’s first energy electronic currency, in cooperation with Chuncheon City, Gangwon Province.

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