Korea Post Teams With Coinplug And NHN To Create Blockchain Payment System

Blockchain, Innovation, News | June 6, 2019 By:

Korea Post, the national postal service of South Korea, has partnered with South Korean blockchain developer Coinplug and global IT company NHN to apply blockchain technology to its billing system.

The project, which is part of the Ministry of Science and ICT’s Digital to Digital Convergence Projects, will receive 800 million won ($677,000 USD) from the government this month. Under the agreement, Korea Post will create a blockchain-powered payment method incorporated in its postal service, using the blockchain expertise of Coinplug and NHN’s payment technology.

The pilot project will reportedly launch in the city of Naju, a city in South Jeolla Province that was designated an Innovative City.

“We plan to test it in the Naju Innovative City and expand the platform in the future,” a Korea Post official said. “We plan to discuss the link with the ZeroPay led by the Seoul metropolitan government.”