Long-unused Pay/Money balances to be notified at least once a year with refund guidance — Naver Financial, Kakao Pay, Viva Republica
Source material is a Korean government announcement (in Korean).
Naver Financial, Kakao Pay and Viva Republica will notify users at least once a year of Pay/Money balances not used for one or two years or more, and provide refund menu information with the notice.
Key facts
| Companies covered | Naver Financial, Kakao Pay, Viva Republica (three big tech companies) |
|---|---|
| Long-unused criterion | Prepaid balances with one or two years or more since the last top-up or use |
| Notification | Balance, validity period, etc., at least once a year via official channels such as Naver TalkTalk and Kakao AlimTalk |
| Refund | Refund information provided with the notice; cash refund through the refund menu indicated |
| Scale (end of August) | 1.76 million people subject to notification (including duplicates), 25.5 billion won in prepaid balances |
Last checked:
Korea's Financial Services Commission and Financial Supervisory Service, together with three big tech companies — Naver Financial, Kakao Pay and Viva Republica — have prepared measures to strengthen user notification and encourage refunds for long-unused Pay/Money-type prepaid balances. Prepaid balances for which one or two years or more have passed since the last top-up or use will be classified as long-unused, and users will be notified at least once a year of the balance they hold, its validity period and other details through official channels such as Naver TalkTalk and Kakao AlimTalk, with refund information provided so they can get a cash refund through the refund menu indicated. As of the end of August, 1.76 million people (including duplicates, holding 25.5 billion won in prepaid balances) at the three companies were subject to long-unused notification.
Summaries below are factual notes based on government announcements and primary sources — not evaluations or opinions.
FAQ
How did users have to get their balances back before?
Previously, users had to find the refund menu on the website or app themselves and apply for a refund. From now on, refund information will be provided together with the notice.
How long are Pay/Money-type prepaid balances valid?
Pay/Money-type prepaid balances have a validity period of 10 years or more, so they can be used or refunded over a long period.