President Lee Dae-hoon of NH Bank.

NH Bank has outlets including local subsidiaries, branches and rep offices in five foreign countries such as the U.S., China and India, and plans to further expand its overseas network with a segregated strategy that mixes farm and finance. Its strategies will be focused on the measures that took care of the farmers’ high-interest debts, which have been the backbone of its operational strategies.
The bank also has the know-how to solve various problems that the farms face, and the development of the marketing systems to sell farm produce through the retail distribution outlets. The bank has not been that advanced in the exploration of overseas markets, as it has not much experience overseas compared to its rival banks.
Rather than learning from the rival Korean banks on strategies to explore overseas markets, the bank decided to develop its own strategies unique to its capacities and surroundings, which is to develop financial products and services for agricultural regions combining commercial banking and agricultural finance tailor-made to the regional characteristics.
When the bank put in applied to set up its local subsidiary in Myanmar, the local financial authorities issued a license very quickly as they thought highly of the bank’s professional know-how in agricultural finance.
NH Bank Myanmar has already secured customers totaling more than 20,000 in just two years. The local subsidiary plans to add farm machinery finance to its operation to diversify. Encouraged by its successful operation in Myanmar, the bank plans to enter Cambodia’s financial market.
It will take over a retail financial unit in the second half of the year, with the southeast Asian country being a predominantly a farming country with vast farm lands and not much industrial plants, but endowed with plenty of natural resources. The bank plans to start with small loan services to individuals and farms to get its operation going.
Korean banking giant Nonghyup (NH) Bank, which specializes in agricultural and commercial credit and banking services in South Korea, has joined the “R3 "Blockchain” consortium, according to reports by local media.
The consortium researches and develops Blockchain solutions for financial services. The announcement indicates that with the help of R3, the bank intends to implement new technology and initiate new partnerships with Fintech corporations.
According to an official from Nonghyup Bank: "We will acquire technology by joining the consortium and apply it to various sectors of NH Nonghyup Bank such as the financial and economic sectors.
“The connection is no less important for R3, after a number of bumps in their business plan over the past few months. The lawsuit with Ripple, which recently took a turn for the worse, has left some companies within the consortium feeling that the focus has changed.“However, the addition of Nonghyup Bank, as well as the recent announcement that Amazon Web Services (AWS) chose R3 as its Blockchain access point, should prove positive for the company’s future growth.”
NongHyup Financial Group has signed a memorandum of understanding with Indonesia's PT Bank Mandiri Tbk for business cooperation, leading a proactive expansion in the country, the Korean bank said recently.
At Bank Mandiri's head office in Jakarta, NongHyup Financial Group Chairman Kim Yong-hwan and Bank Mandiri President Director Kartika Wirjoatmodjo agreed to enhance their partnership in eight segments, including corporate financing, trade financing and human resources. They also agreed to set up a committee overseeing the two financial firms' collaborative projects.
Bank Mandiri is Indonesia's largest bank by assets at $83.5 billion. Eleven subsidiaries are under its wing, with 3,626 branches and offices run by 39,000 employees.
"Through multi-pronged cooperation in banking, insurance, securities, capital, asset management and other fields, the two lenders should seek growth together," Kim said.
Wirjoatmodjo added, "The MOU will be a model case for cooperation between financial groups representing Indonesia and Korea." Market watchers say Kim's trip to Indonesia is aimed at increasing the banks presence in the Southeast Asian country more aggressively.

A view of the building in Chungjeong-ro, Seoul, where NH Bank has offices.(Photos: NH Bank)