A memory system and a method for operating the same, wherein the memory system includes a first memory and a second memory each configured to store data. The memory system further includes a test and repair circuit operationally connected to the first memory and to the second memory. The test and repair circuit is configured to receive a test initiation signal and perform, in response to receiving the test initiation signal, a test operation on at least one of the first memory and the second memory. The test and repair circuit is also configured to perform, based on a result of the test operation, a repair operation on the at least one of the first memory and the second memory.