The Financial Supervisory Service will require Naver Pay, which recently had a payment error, to submit measures to prevent a recurrence as early as this week. After reviewing the submitted measures, the Financial Supervisory Service is expected to conduct an on-site inspection if it determines they are insufficient.
According to the financial authorities on the 25th, the Financial Supervisory Service plans to complete its assessment this week of the measures to prevent a recurrence of the payment error that occurred at Naver Pay on the 19th. Although the Financial Supervisory Service did not set a separate deadline for submitting the measures, it is seen as moving quickly to make a prompt determination.
The Financial Supervisory Service is said to be checking whether the Naver Pay error incident could pose risks in the future. If it judges the submitted measures to be inadequate, the Financial Supervisory Service plans to take follow-up actions, including an on-site inspection.
From 12 p.m. to 3:30 p.m. on the 19th of this month, Naver Pay experienced service-wide disruptions due to a system error, affecting point inquiries and payments, inquiries into payment history and event history, and Pay Money Card payments. Naver Pay normalized services after 3:30 p.m. through recovery work.
Naver Pay said the system error was not caused by an external attack, but by an internal error that led to a databases (DB) system failure. At the time, the Financial Supervisory Service did not conduct an on-site inspection, considering that Naver Pay took action the same day. A Financial Supervisory Service official said, "After completing the assessment, we will decide on any follow-up action, taking into account staffing and other circumstances."