The Korea Post has been looking for ways to ensure its survival in cooperation with private business firms.
The post office, which is directly under government control, has decided to lease excess space at its 168 offices across the country through either rearrangement or reductions in the spaces they need so that it can be leased to private individuals or companies. They will target proponents who want to open stores or coffee shops.
The postal authority has been trying to have its offices around the country, which have been suffering from deficits, recoup losses by leasing space out to private individuals or companies. The post offices have seen deficits worsen due to reductions in postal matters, including mail and parcels. It has been forced to search for the ways to make its operation profitable.
The Korea Post said it held an investor relations session on Jan. 30 with some 150 invited officials from such business sectors as depository, insurance, advertisement, communication, public entities, manufacturing, and others to attract investments from those companies.
The event was held to seek businesses that could either replace the businesses operated by Korea Post, including postal services, deposits and insurance, or supplement them like it has with the sales of inexpensive hand phones. The post office would go as far as operating a real estate business to make use of unused space at its buildings across the country.
Included in the first stage of the plan by the Korea Post is adding more floors to existing buildings in such key locations in Seoul as Mapo, Youngdong and Yeouido, as high as 23 stories by 2020, then leasing the extra space for 30 years to earn some 1 trillion won from the rental business. The post office also has been considering inviting coffee shops and other similar shops to operate in their buildings.
The Korea Post will also turn its old buildings into hotels, resting facilities for foreign tourists and business facilities through remodeling.
The postal authority also plans to expand agency services for electronic products, stationary, wedding and travel products, accessories for hand phones, among others, in addition to hand phones at post offices around the country.
Since 2009, the Korea Post has been implementing a “low carbon green growth policy” along with its existing sustainable growth strategy in a bid to strengthen an environmentally friendly business structure by deviating from its current high-energy consumption industrial structure.
Its Green Management plan is closely linked to the major activities of its postal and financial activities. The postal service has stepped up efforts to increase “Green Transportation” and has seen achievements in using eco-friendly vehicles so far, while it is strengthening its eco-friendly base through the “Green Finance” of postal financial business. In addition to it, it is closely working with local communities by building and managing eco-friendly post offices as well as offering environmentally friendly green education and training.
As for green achievements Korea Post has made so far, it created a Code of Conduct applicable to all employees so that they can carry out the Green Post initiative. It has also established a Greenhouse Gas Inventory to effectively manage CO2 emissions of post office buildings and postal vehicles.
In an effort to promote eco-friendly buildings, it is in the process of expanding certification issuances, increasing energy efficiency, distributing LED lights, setting up energy-saving building management and introducing energy-efficient facilities.
“In the area of green transportation, we are working hard to increase the distribution of eco-friendly vehicles, optimize transportation networks and spread an environmentally-friendly driving culture,” the postal service said.
