The Ministry of SMEs and Startups to cooperate with KT to support the digital transformation of the traditional markets

[Smart City Today]

The Ministry of SMEs and Startups, KT, Korea Commission for Corporate Partnership, and Korea Merchant Association signed a win-win agreement on September 5 and decided to cooperate, aiming to support traditional markets can respond to changes in the distribution environment, such as the spread of non-face-to-face transactions triggered by COVID-19, through digital conversion.

The agreement marks the first step in the strategy of creating a happy local commercial district through private cooperation, one of the "new government's small business and self-employment measures" announced by the Ministry of SMEs and Startups at the 6th emergency economic welfare meeting on August 25 (Thu).

Looking at the main contents of the agreement, ▲digital education will be provided to merchants who have difficulty using digital devices to help them enter and use online platforms. Also, ▲ free Wi-Fi zones will be introduced in traditional markets, and ▲ old communication networks will be renovated to attract customers.

It plans to expand the scope of technical and policy cooperation with other institutions by operating a public-private council for digital conversion of traditional markets so that newly issued card-type Onnuri gift certificates can be used on various payment platforms.

Minister of SMEs and Startups Lee Young said in a greeting, "The core of non-face-to-face transactions is digitalization, and digital transformation in traditional markets is now a necessity, not an option, and the government is preparing various support measures by reflecting the digital transformation of traditional markets in the first national task.", and "Today's agreement ceremony is a very meaningful event to connect the traditional market, which is the basis of the local commercial district, and KT, the basis of the national information and communication network, in the ‘4th industrial revolution era’ symbolized by hyper-connectivity and we hope that this agreement will serve as an opportunity to foster local merchants as innovative entrepreneurs."