NH Nonghyup Financial Group announced on June 28 that it has selected Jeonbuk as its second strategic base in line with the government's national balanced growth policy, aiming to establish a financial hub and provide comprehensive financial support for local industries.
In the third quarter, NH-Amundi Asset Management will open an office in Jeonju and launch the 'NH Financial Hub' (tentative name). The plan is to integrate asset management with existing banking, insurance, and securities infrastructures in Jeonbuk to create a comprehensive financial service system.
The comprehensive support will focus on Jeonbuk's key industries, including agricultural biotechnology, physical AI, and renewable energy. Major affiliates of the group will collaborate to provide integrated support for corporate finance, investment, and insurance services.
NH Nonghyup Bank will expand corporate finance through special contributions to local guarantee institutions, while NH Nonghyup General Insurance will enhance corporate insurance offerings. NH-Amundi Asset Management will promote synergy among affiliates and boost participation in projects related to the National Pension Service from its Jeonju office.
Support for the agricultural and food industry will also be strengthened. NH Nonghyup Financial plans to establish a fund of 1 trillion won over the next five years through the 'K-Food Scale-Up Program,' which will support the discovery and investment in agricultural and food companies, as well as preferential interest rates. The bank will provide consulting services to local agricultural and food businesses and expand tailored financial services, such as specialized corporate loans and trade finance, for companies in the Iksan National Food Industry Cluster.
Lee Chan-woo, chairman of NH Nonghyup Financial, stated, "Jeonbuk is the new hub of finance in South Korea. We will be a strong partner to ensure that Jeonbuk can grow into a key financial and industrial center, leveraging the capabilities of our affiliates around the NH Financial Hub."
* This article has been translated by AI.
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