NH NongHyup Financial to Open Marine and Aviation Industry Support Center

NH NongHyup Financial Group said on the 16th it will establish a “NongHyup Financial Marine and Aviation Industry Comprehensive Support Center” to strengthen support for the marine and aviation industries in the country’s southeastern region.

The move is part of the government’s “5 hubs, 3 special zones” balanced-growth policy. The center is scheduled to open in April in Changwon, South Gyeongsang Province, and is expected to serve as key infrastructure to help boost per-capita gross regional domestic product in the southeastern region.

NH NongHyup Financial said it will bring together its affiliates — including banking, nonlife insurance, securities, capital and venture capital — to provide integrated financial services. Under the plan, the bank will handle lending and foreign-exchange services; the nonlife insurer will provide ship and cargo insurance; the securities unit will support corporate bond issuance, IPO underwriting and corporate finance; the capital unit will offer lending and industrial equipment leasing; and the venture capital arm will make equity investments in innovation-driven growth companies. The group plans to invest 5 trillion won over the next five years.

NH NongHyup Financial said it will continue developing financial support models tailored to regional characteristics under the “5 hubs, 3 special zones” framework, drawing on its nationwide network of more than 1,200 offices. Chairman Lee Chan-woo said the new center is a proactive and essential step to advance both the balanced-development policy and the integrated goal of fostering advanced industries through “productive finance.”