Park Sang-jin: "Naver Pay Will Become a Leader in the Korean Won Stablecoin Market"

CEO Park Sang-jin's 10th Anniversary Press Conference

Full-scale Entry into the Offline Payment Market

Naver Pay has revealed its intention to enter the Korean won stablecoin business. As a new strategic move, the company has also decided to target the market for offline payment terminals.

On the 26th, Park Sang-jin, CEO of Naver Pay, held a press conference commemorating the company’s 10th anniversary at the Four Seasons Hotel in Dangju-dong, Seoul, and stated regarding the Korean won stablecoin, "Naver Pay has over 30 million users and merchants, and has the optimal environment for providing payment and distribution services." He added, "We are prepared to play a leading role amid in-depth market considerations and government reviews." Regarding the direct issuance of a Korean won stablecoin, Mr. Park said, "Since the relevant legislation has not yet been enacted, it is difficult to predict the scope of what we can actually do."

On this day, Naver Pay also unveiled its offline payment terminal ‘Connect’. This marks a declaration to enter the offline payment market beyond online services. Connect is a terminal that supports all types of payments, including cash, cards, QR codes, barcodes, and facial recognition payments. Naver Pay also introduced a new service called 'AI Home Search,' which finds personalized real estate listings based on generative artificial intelligence (AI). Mr. Park emphasized, "We will evolve into a global fintech platform where you can experience advanced digital financial services powered by AI, Web 3.0, and robotics."

Reporter Jeong Eui-jin justjin@hankyung.com