KT Signs Win-Win Agreement to Revitalize Traditional Markets... Collaboration on Digital Transformation

[Asia Economy Reporter Lim Hye-sun] On the 5th, KT announced that it signed a 'Win-Win Agreement for Revitalizing Traditional Markets' together with the Ministry of SMEs and Startups, the National Merchants Federation, and the Win-Win Growth Committee at the Novotel Ambassador Dongdaemun Hotel & Residence in Seoul. The signing ceremony was attended by Lee Young, Minister of the Ministry of SMEs and Startups, Jung Dong-sik, President of the National Merchants Federation, Oh Young-kyo, Chairman of the Win-Win Growth Committee, and KT CEO Koo Hyun-mo.

This business agreement was prepared to fully recover small business owners and self-employed individuals affected by COVID-19, and to strengthen the competitiveness of traditional markets through the establishment of a digital market infrastructure and digital transformation.

KT will cooperate to support the digital transformation of traditional markets and bridge the digital divide by expanding the Onnuri gift certificate payment infrastructure, distributing and supporting DX services, providing digital education, and improving market communication environments.

KT plans to participate in technical and policy cooperation to expand the card-type Onnuri gift certificate service and payment platform launched last month, and support the digital transformation of traditional markets through KT's small business DX services. Digital education will also be provided to traditional market merchants who have difficulty using digital devices.

In addition, KT will participate in improving the communication environment of traditional markets by pilot establishing free Wi-Fi zones within markets and renovating outdated communication networks, and will also jointly form and operate a public-private consultative body for cooperation on the digital transformation of traditional markets. KT plans to actively cooperate to ensure stable communication network operation to minimize communication damage to traditional markets caused by the recent typhoon.

KT CEO Koo Hyun-mo stated, "KT's support for traditional markets has been aligned with the Ministry of SMEs and Startups' smart and digital-based management innovation for small business owners and fostering entrepreneur-type small business owners," and added, "We will continue to cooperate so that KT's Digico technology can serve as a foundation for the digital transformation and revitalization of traditional market commercial districts."

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