KT Moving's "KT Moving Service" has surpassed 10 million households of users. The KT Moving Service is a life-oriented service that, when an address and contact information change due to a move or a department transfer, lets users submit a free, one-stop change request to multiple corporations such as financial firms, telecoms, and insurers.
KT Moving said on the 20th that, as of the 7th of this month, cumulative households using the KT Moving Service totaled 10,003,354. The service was introduced 26 years ago.
KT Moving said, "Surpassing 10 million households for the KT Moving Service goes beyond a simple increase in users; it is a representative public-private cooperation achievement in which the Ministry of the Interior and Safety's address policy and a private service are combined to improve convenience in people's daily lives."
The Ministry of the Interior and Safety, during the process of establishing road-name addresses, signed a business agreement with KT Moving and has linked the KT Moving Service to guidance for new resident households and support for address changes in daily life.
The KT Moving Service reduces returned and misdelivered mail and also increases the efficiency of customer information management for corporations.
KT Moving estimated that, based on 10 million households using the service, 300 million pieces of misdelivered mail were avoided annually and about 1.35 trillion won in social expense was saved. Not operating vehicles that would have been used in the return process translates into annual reductions of 31.5 million kilograms in the production and disposal of paper mail and 4.41 million kilograms of carbon dioxide (CO2). This is equivalent to the amount absorbed annually by about 3.26 million pine trees, according to the National Institute of Forest Science.
There have also been cases where people using the KT Moving Service recovered forgotten financial assets. A person surnamed Kim (52), who lives in Yeongdeungpo District, Seoul, received by mail a notice about shares that had been received as employee stock ownership and forgotten after leaving a private, unlisted company in their 30s, after applying for the KT Moving Service. In the meantime, the company had gone public, and after stock dividends and other actions, the person confirmed an asset with a market value of more than 100 million won. A person surnamed Kim (45), who lives in Pyeongtaek, Gyeonggi Province, received a notice from an insurer after applying for the KT Moving Service stating that the person was enrolled in an annuity insurance policy. The person confirmed it was an annuity that the deceased father had been paying, paid the overdue premiums, and restored the right to receive an annuity amounting to 100 million won.
A KT Moving official said, "Going forward, KT Moving will continue to expand its role as a daily convenience service that people can use more easily."