NH Nonghyup is enhancing the independence of its audit organization to improve governance transparency. Additionally, it is launching a management stability project worth 220 billion won to transform into a cooperative owned by farmers.
On July 8, NH Nonghyup announced the implementation of its "Nonghyup Transformation" plan, which focuses on comprehensive organizational reform. This initiative aims to expedite the recommendations of the Nonghyup Reform Committee, emphasizing the revitalization of central operations and strengthening support for farmers.
The organization will significantly enhance transparency in its operations. It plans to ensure the independence of its audit organization to improve governance and implement personnel reforms, including restrictions on reemployment of retirees. Furthermore, it intends to establish a compliance monitoring committee led by external members to promote ethical management.
To bolster support for farmers, NH Nonghyup will launch the "Cheer Up Our Agriculture" project, valued at 220 billion won. This initiative aims to alleviate production, distribution, and financial burdens, thereby increasing the actual income of farmers.
Additionally, as part of its inclusive finance efforts, NH Nonghyup will implement the cancellation and reduction of long-term overdue debts amounting to 887.6 billion won. In the third quarter, it plans to establish an NH Financial Hub in the Jeonbuk region in line with its "5 Extremes and 3 Specialties" strategy.
NH Nonghyup stated, "This 'Nonghyup Transformation' is a practical strategy to proactively respond to societal demands for change and innovation, as well as to expedite the early implementation of the Nonghyup Reform Committee's recommendations. We will swiftly advance 16 practical tasks to become a reliable support for farmers and members, leading the development of agriculture and rural areas."
On July 8, NH Nonghyup announced the implementation of its "Nonghyup Transformation" plan, which focuses on comprehensive organizational reform. This initiative aims to expedite the recommendations of the Nonghyup Reform Committee, emphasizing the revitalization of central operations and strengthening support for farmers.
The organization will significantly enhance transparency in its operations. It plans to ensure the independence of its audit organization to improve governance and implement personnel reforms, including restrictions on reemployment of retirees. Furthermore, it intends to establish a compliance monitoring committee led by external members to promote ethical management.
To bolster support for farmers, NH Nonghyup will launch the "Cheer Up Our Agriculture" project, valued at 220 billion won. This initiative aims to alleviate production, distribution, and financial burdens, thereby increasing the actual income of farmers.
Additionally, as part of its inclusive finance efforts, NH Nonghyup will implement the cancellation and reduction of long-term overdue debts amounting to 887.6 billion won. In the third quarter, it plans to establish an NH Financial Hub in the Jeonbuk region in line with its "5 Extremes and 3 Specialties" strategy.
NH Nonghyup stated, "This 'Nonghyup Transformation' is a practical strategy to proactively respond to societal demands for change and innovation, as well as to expedite the early implementation of the Nonghyup Reform Committee's recommendations. We will swiftly advance 16 practical tasks to become a reliable support for farmers and members, leading the development of agriculture and rural areas."
* This article has been translated by AI.
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