Naver Pay signs 7.5bn won Jeju small business guarantee deal

Naver Pay signed an agreement on October 15, 2026 with Jeju Special Self-Governing Province, Jeju Bank and the Jeju Credit Guarantee Foundation to supply a special guarantee for Jeju small business owners worth a total of 7.5 billion won, according to bloter.net.

Under the Jeju Small Business Hope ON Special Guarantee, Naver Pay and Jeju Bank will contribute a combined 600 million won. The maximum guarantee limit is 50 million won per business, with a guarantee period of up to 6 years and a guarantee ratio of 95%.

The agreement comes as Naver Pay expands its offline integrated payment terminal Connect mainly in Jeju. The number of Connect installations on the island as of September increased more than 15 times compared with January.

Naver Pay is also running a promotion from the 12th to November 30 that grants 10% of Face Sign face-recognition payment amounts as Npay points, up to 50,000 won per month, fully funded by Naver Pay.

The company said it plans to expand education, marketing and payment fee refund programs alongside the spread of Connect.

Earlier rollout

Naver Pay reached 100,000 Connect affiliated stores nationwide at the end of June 2026. In an analysis released in June 2026, the company reported that restaurant reviews increased by up to 230% compared with before introduction, based on the top five stores by review count in each sector.