Financial Transactions Suspended During May Holiday
- Several South Korean financial institutions,including IBK and Korea Investment & Securities,will temporarily suspend some financial services due to computer system upgrades and maintenance.
- IBK will implement a system-wide suspension from midnight on May 3 until midnight on May 5.
- Specifically, from midnight to noon on May 3, all banking transactions, including ATM usage and check card functionality, will be unavailable.
Financial Institutions Announce Temporary Service Disruptions
Table of Contents
- Financial Institutions Announce Temporary Service Disruptions
- Financial Service Disruptions in South Korea: A guide
- What Financial Institutions Are Experiencing Service Disruptions?
- When Will These Disruptions Occur?
- What Services Will Be Affected During the IBK Suspension?
- what Services Will Be Unavailable at Korea Investment & Securities?
- What Services Will Be impacted by the National Pension Service (NPS) outage?
- Key Takeaways & Summary Table
Several South Korean financial institutions,including IBK and Korea Investment & Securities,will temporarily suspend some financial services due to computer system upgrades and maintenance. These disruptions are scheduled to occur around may 3, 2025, and may affect various banking and investment services.
IBK Service Suspension
IBK will implement a system-wide suspension from midnight on May 3 until midnight on May 5. The impact on available services will vary throughout this period.
Specifically, from midnight to noon on May 3, all banking transactions, including ATM usage and check card functionality, will be unavailable. Though,credit card payments and access to the IBK customer Center for accident reporting will remain operational. Customers needing to report card loss can contact the BC Card Customer Center.
Starting at noon on May 3, certain services will be restored, including:
- Smart Banking and Internet Banking
- Credit and check card payments
- Credit card cash advance services
- Payment and approval inquiries via card applications
- Marketing notifications
IBK anticipates that all financial transactions will return to normal operation by midnight on May 6.
Korea Investment & Securities Service Interruption
korea Investment & Securities will also experiance a service interruption on May 3,from 10 a.m. to 5 a.m. not all financial services will be available during this time, including deposit and withdrawal services. IC card and check card usage will also be suspended.
National Pension Service Online Service Suspension
Separately, the National Pension Service will suspend all online services, including certificate issuance, inquiries, reporting, and applications, from 6 p.m. on May 2 to 8 a.m.on May 7.This outage affects services accessed through the NPS website, mobile applications, and the National pension EDI system, due to computer system reorganization.
Financial Service Disruptions in South Korea: A guide
This article provides crucial information regarding temporary service disruptions at several South Korean financial institutions. We’ll cover the key details about when and which services are affected, helping you stay informed.
What Financial Institutions Are Experiencing Service Disruptions?
several South Korean financial institutions are undergoing temporary service suspensions. This is primarily due to computer system upgrades and ongoing maintenance. These disruptions are scheduled around May 3, 2025. The specific institutions affected include IBK, Korea Investment & Securities, and the National Pension Service.
When Will These Disruptions Occur?
Let’s break down the specific timelines for each institution:
IBK: A system-wide suspension will take place from midnight on May 3 until midnight on May 5.
Korea Investment & Securities: Service interruption will be from 10 a.m. to 5 a.m. on May 3.
National Pension Service: online services will be suspended from 6 p.m. on may 2 to 8 a.m. on May 7.
What Services Will Be Affected During the IBK Suspension?
IBK’s service interruption will be phased. The impact will vary throughout the suspension period:
Midnight to Noon, May 3: All banking transactions, ATM usage, and check card functionality will be unavailable. However, credit card payments and the IBK customer center (for accident reporting) will remain operational.
Starting at Noon, May 3: Several services will be restored, including smart banking and internet banking, credit and check card payments, cash advances, payment inquiries, and marketing notifications.
Full Service Restoration: IBK anticipates that all financial transactions will be back to normal operation by midnight on May 6.
Can I Still Report a lost Card During the IBK Suspension?
Yes, while ATM usage and other banking transactions are unavailable from midnight to noon on May 3, you can still report a lost credit card by contacting the BC Card Customer Center.
Korea Investment & Securities will undergo a service interruption on May 3 from 10 a.m. to 5 a.m. During this time,deposit and withdrawal services will be unavailable. The use of IC cards and check cards will also be suspended.
What Services Will Be impacted by the National Pension Service (NPS) outage?
the National Pension service will suspend all online services. This includes:
Certificate Issuance
Inquiries
Reporting
Applications
The NPS outage affects services accessed through the NPS website, mobile applications, and the National Pension EDI system.This is due to computer system reorganization. the suspension runs from 6 p.m. on May 2 to 8 a.m. on May 7.
Key Takeaways & Summary Table
Here’s a speedy summary to help you stay organized:
| Institution | Service Interruption Dates | Impacted Services |
| —————————- | ——————————————————- | ——————————————————————————————– |
| IBK | Midnight, May 3 – Midnight, may 5 (system-wide) | Varies: ATM, banking, then partial restoration noon May 3, full service by midnight May 6. |
| Korea Investment & Securities | 10 a.m.- 5 a.m., May 3 | Deposit/Withdrawal services, IC