NongHyup Financial Group Establishes Task Force to Revitalize Productive Finance

Chairman Lee Chan-woo and attendees pose for a photo at the 2nd NongHyup Financial DT Promotion Supreme Council Meeting for 2025 at the Nonghyup Financial headquarters in Jung-gu, Seoul on Oct. 1. (Photo: NongHyup Financial Group)

NongHyup Financial Group announced on Oct. 1 the establishment of the Productive Finance Activation Task Force (TF) chaired by the group’s chairman to swiftly respond to the revitalization of productive finance. NongHyup Chairman Lee Chan-woo directly manages the task force.

The task force, an extension of the Productive Finance Promotion Meeting under Chairman Lee held on Aug. 20, will systematically and substantively identify projects that align with policy objectives that are in line with financial authorities’ task force operations.

The management of NongHyup Financial Group will elevate the task force to a committee next year to further enhance its implementation capabilities.

Through the task force, NongHyup Financial Group plans to expand diverse productive finance initiatives tailored to the unique characteristics of each affiliate by establishing the group’s productive finance direction, developing business ideas, and coordinating among affiliates.

The NH Financial Research Institute will establish a basic strategy for the launch of productive finance initiatives.

This will establish a collaborative system where relevant departments within each affiliate make implementation plans.

This collaborative system will then be used to develop strategies aligned with the field and continuously develop these strategies.

For NongHyup Financial Group’s first productive finance project, NH Investment & Securities submitted an application for designation as an IMA project to financial authorities on Sept. 29.

Through this initiative, NH Investment & Securities will proactively promote capital inflows into productive sectors such as cutting-edge industries and innovative companies, thereby spearheading the government’s venture capital supply policies.

In addition, NongHyup Financial Group will pursue various strategies to expand productive finance such as developing fire insurance specifically for small business owners and securitizing idle assets.

At the final session on establishing mid- to long-term strategies for NongHyup Financial Group consulting on Sept. 29, Chairman Lee emphasized the importance of productive finance while urging the strengthening of the competitiveness of each affiliate’s core business lines.

DT Promotion Council Meeting for 2025

NongHyup Financial Group announced that it held the 2025 Second DT Promotion Council Meeting at its headquarters in Jung-gu, Seoul on Oct. 1.

With the participation of senior digital leaders from all NongHyup Financial Group affiliates, the meeting zeroed in on key digital initiatives that will determine the future competitiveness of financial services, including the development of generative AI technology and NongHyup Financial Group’s AI strategy, new virtual asset businesses such as stablecoins, upgrading the All-One Super Platform, and strengthening the group’s information protection and security capabilities. Based on the assessment of current situations, the meeting sought future directions.

Chairman Lee Chan-woo, who presided over the meeting, emphasized that AI is evolving beyond mere assistance to humans, moving towards “Agentic AI” where AI makes decisions and executes autonomously. Lee urged company-wide preparations for a rapid response and implementation.

In July, NongHyup Bank set up a self-generated AI platform and is currently providing work efficiency services to its employees.

Furthermore, the securities firm is actively introducing AI services to maximize customer experience and employee work efficiency, including the provision of chat-based overseas investment information (Terminal X), AI stock market summaries, AI chart analysis and NH Business GPT.

To disseminate the tangible results and experiences of these leading affiliates to other affiliates, NongHyup Financial Group is utilizing a group-wide AI platform based on APIs and building a group-wide AI PoC environment.

The financial group plans to provide unwavering support so that all employees across affiliates can contribute ideas and continuously test them, even if failures occur, to create innovative and practical AI services.

Meanwhile, the chief information security officers of all affiliates present agreed on an urgent need to thoroughly manage technological and physical infrastructure to respond to evolving external threats, expand investment in information security, and preemptively overhaul the response system.

“Productive finance holds the key to the sustainable growth of the national economy,” Chairman Lee said.

“NongHyup Financial Group’s current task force initiative, IMA-focused venture capital supply, and dormant asset securitization strategy are preemptive and essential measures to ensure that we comply with government policies while also doing our utmost to expand practical financial support.”