KT to Launch ‘Dongbaek Mall,’ a Busan Local Product Marketplace

[Asia Economy Reporter Koo Chae-eun] KT has completed the construction of ‘Dongbaek Mall,’ an online local product mall in Busan, and will officially open it from the 27th.

According to KT on the 25th, Dongbaek Mall is an online marketplace created by KT and Busan City to expand the online usage of ‘Dongbaekjeon,’ Busan’s local currency, and to revitalize the local economy by expanding sales channels for small business owners in the Busan area. KT plans to release the Dongbaekjeon app for Google Android on the 25th and the Apple iOS app on the 27th, and will collect various user feedback through a two-day pilot operation from the 25th to 26th.

From the 25th, users can access Dongbaek Mall directly within the app by updating the Dongbaekjeon app. In particular, by introducing a direct payment method with Dongbaekjeon, the payment fees that small business owners have to bear have been eliminated. Users can conveniently and quickly purchase various products within the Busan area and also receive additional reward points for their purchases.

Since the eligibility to enter Dongbaek Mall is limited to ‘small business owners in the Busan area,’ it is expected to greatly help expand online sales channels for small business owners in Busan and revitalize the local economy. KT plans to continuously provide professional management functions such as guidance for small business owners in Busan to enter the mall and securing customized products to ensure stable operation of Dongbaek Mall.

KT and Busan City will support Dongbaek Mall to establish itself as a representative non-face-to-face sales channel for small business owners in the Busan area through various online and offline promotions. Additionally, ‘Ulsan Mall,’ a local product mall in Ulsan City opened by KT last October, succeeded in its initial popularity with over 80,000 visitors within eight days of service launch. Based on this experience, KT plans to stabilize the Busan Dongbaek Mall service early.

Kim Jong-chul, Head of KT Blockchain Business Center (Executive Director), said, “KT is planning additional services utilizing KT Group’s capabilities to activate the Dongbaekjeon service and support small business owners,” adding, “KT will provide more support so that Dongbaek Mall can become a catalyst for revitalizing Busan’s economy online.”