Naver Pay, Jeju Partners to Back Small Businesses with 7.5B Won in Guarantees
Naver Pay signed an MOU with Jeju Province, Jeju Bank and the Jeju Credit Guarantee Foundation to expand credit guarantees and digital payment support for local small business owners.
Naver Pay signed a memorandum of understanding with Jeju Special Self-Governing Province, Jeju Bank and the Jeju Credit Guarantee Foundation on October 15, 2026, aimed at improving financial access and the digital business environment for small business owners on Jeju, according to digitaltoday.co.kr.
Under the agreement, Naver Pay and Jeju Bank will contribute a combined 600 million won to the Jeju Credit Guarantee Foundation as a special deposit. The program, called the Jeju Small Business Owner Hope ON Special Guarantee, will supply up to 7.5 billion won in credit guarantees, with a maximum of 50 million won per business, a guarantee period of up to 6 years and a guarantee ratio of 95%.
Jeju Bank will provide guaranteed loans based on the guarantee certificates to small business owners who use Jeju Bank and Npay Connect, the integrated terminal for offline payments.
Naver Pay also plans to expand its offline payment infrastructure centered on Npay Connect and to extend its Npay Money and point in-store payment fee refund program for small and medium merchants until the end of the year. The company will additionally run training programs covering Npay Connect's review, coupon and kiosk functions and the use of Naver Smart Place.
Quick answers
What is the Jeju Small Business Owner Hope ON Special Guarantee?
It is a program under the October 15, 2026 MOU that will supply up to 7.5 billion won in credit guarantees, capped at 50 million won per business, with a guarantee period of up to 6 years and a 95% guarantee ratio.
Who signed the agreement?
Naver Pay signed the MOU with Jeju Special Self-Governing Province, Jeju Bank and the Jeju Credit Guarantee Foundation.
What support will Naver Pay provide beyond the guarantees?
Naver Pay plans to expand its Npay Connect offline payment infrastructure, extend its Npay Money and point in-store payment fee refund program for small and medium merchants until the end of the year, and offer training on Npay Connect functions and Naver Smart Place.