KT announced on October 24 that it signed an official agreement with Lotte Rental for release of iPhone rental service at the East of KT's Gwanghwa Mun Building in Jongno-gu, Seoul on October 23.
Lee Pil-jae, vice president of KT's marketing division, and Pyo Hyun-myung, CEO of Lotte Rental attended the event.
The official name of the iPhone rental service is KT Premium Rental, which will be released on November 2 as KT and Lotte Rental have been preparing for the launch of the new iPhone.
With the launch of "KT Premium Rental," KT is able to ease burdens on customers who purchase expensive phones and ease difficulties for customers who are considering disposing of used phones.
KT Premium Rental is a service that can reduce service burden by paying low rental fee for 24 months compared to monthly payments and returning a mobile phone that has been used.
"The KT premium rental service is a long-term result of working with Lotte Rentals to reduce the burden on customers to purchase phones," said Lee Pil-jae, vice president of KT`s marketing division.