Chairman Kim Yong-hwan of the NH Financial Group declared a new Brand Identity at a meeting on Jan. 8 at NH Bank’s head office in Yeouido, Seoul, where all the CEOs and leading executives of its affiliates were assembled. The brand identity involves the delivery of a finance business’ products and services so that customers can remember where they should go to fulfill financial needs.
“All the Moments in Finance” is the brand identity for NH Financial Group, which was declared at the meeting by Chairman Kim. It shows that NH Financial is ever ready to take good care of its customers in every moment of their lives with a mission to serve the best financial services it has access to.
Since its launch in 2012, NH Financial has become one of the four major financial groups in Korea by taking over a package of financial firms led by Woori Investment and Securities so that its affiliates are in all major segments of finance, such as insurance, bank and securities, to make its business portfolio one of the best in Korea. But top management of the group always felt the need to have a brand identity and they began to look for one from early 2015.
Chairman Kim told the participants at the declaration meeting that he expects all of them to do their best to deliver their financial services in such a way that they are tailor-made for their customers’ needs so that the image of the group may be improved. “Let’s not make the brand identity scraps,” the chairman declared.
The group discussed the management strategy for this year before the declaration of the brand identity. Kim noted the financial environment for the year due to the global economic slowdown and heated competition in the financial markets at home and abroad and called for tight risk management and judicious operation of each affiliate. He told them to push ahead with the projects that are expected to create synergy with great growth potentials.
Kim also presented the awards for the NH Financial Man and the Social Contribution in an award presentation ceremony. The meeting adjourned after a declaration of ethical management for 2016 by all the participants in the meeting to keep the group clean from unethical management practices.
NongHyup Financial Group is considering acquiring banks in Indonesia or Myanmar as it seeks to expand into global markets amid low growth and low margins in Korea.
"We plan to invest in banks or leasing companies in emerging markets and we are considering acquiring them to increase our presence there," a group official said Monday.
He confirmed a statement by NongHyup Financial Chairman and Chief Executive Kim Yong-hwan in a recent interview with a local media.
The former chief of the Export-Import Bank of Korea said providing financial services to Korean companies operating in local markets and Koreans living there was not enough to make big profits.
To push forward its investment plans, NongHyup Financial said it had set up a task force composed of CEOs from NH Bank, NH Investment & Securities and NongHyup Life Insurance.
"The team is conducting a feasibility study on Asia's potential markets such as Myanmar, Indonesia, Vietnam, China and Cambodia before NongHyup Financial enters the markets," the official said.
On top of stake purchases, acquisition of a bank or other financial firms would facilitate NongHyup Financial's bid to gain a foothold in those emerging markets, he said.
Meanwhile, Chairman Kim will strengthen NongHyup's partnership with its parent National Agricultural Cooperative Federation (NACF).
"The NACF has been in talks for a month to sign an initial pact with Hualian in China to provide agricultural products to the major Chinese retail group," an NACF spokesman said. "It also plans to supply agricultural goods to local distributers in Qatar and Dubai later this year."
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