Domestic Mail Volume Drops by 2.4 Billion Pieces Over 18 Years... Postage Fee Increased by 50 Won
Ujeong Business Headquarters, Administrative Notice on the 13th
[Asia Economy Reporter Kim Bong-su] Due to the activation of email and mobile messaging, domestic mail volume has decreased by 2.4 billion pieces over the past 18 years. In response, the postal authorities have decided to raise postage rates by 50 won for the first time in two years.
The Korea Post under the Ministry of Science and ICT announced on the 13th that domestic postage rates will increase by 50 won starting September 1. The Korea Post issued an administrative notice on the same day regarding the revision of the "Domestic Ordinary Mail Postage and Postal Service Fees." From September 1, the current standard mail rate of 380 won (for items weighing 25g or less) will be raised to 430 won, an increase of 50 won. Domestic mail is divided into 31 weight categories, and postage will increase by 50 won per weight category. Although the increase varies by weight, the rate for standard mail weighing 25g or less will rise from 380 won to 430 won.
According to the Korea Post headquarters, the acceleration of non-face-to-face and digital transitions such as mobile electronic notifications has expanded the decline in mail volume. Mail volume peaked at 5.5 billion pieces in 2002, then steadily decreased to 4.9 billion in 2010, 4 billion in 2015, and 3.1 billion last year, a reduction of 2.4 billion pieces over 18 years. Consequently, postal business losses reached 123.9 billion won as of 2020, and deficits have significantly increased, making the postage rate hike inevitable, according to the Korea Post.
The Korea Post stated, "We have reluctantly adjusted postage rates to stably provide universal postal services," adding, "While raising postage rates that are far below cost, we focused on minimizing the impact on citizens' livelihoods and inflation."
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Meanwhile, the Korea Post also raised postage rates by 50 won in May 2019. In June last year, registered mail fees were increased by 300 won, and international postage rates for small parcels were raised to between 2,700 and 2,910 won.
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