[Concall] NHN "Actively Responding to Court Requirements Regarding Timeff Incident"

Jung Woo-jin, CEO of NHN, stated during the Q3 earnings conference call on the 12th, "NHN Payco has accounted for the uncollected receivables related to the Timef incident as bad debt expenses in operating costs."

He added, "This bad debt write-off is related to Tmon and Happymoney Inc., which are currently undergoing rehabilitation procedures. We will actively respond to the court's requirements and continue efforts to recover the funds through various means."

Earlier, NHN disclosed that due to the one-time bad debt write-off of uncollected receivables from the Timef incident, it recorded an operating loss of 113.4 billion KRW on a consolidated basis for the third quarter of this year.