NH Nonghyup Financial Group holds the 2021 NH Nonghyup Financial Group Brand Day Event at the lobby of NH Nonghyup Bank Headquarters in Seoul on June 17. Son Byung-hwan (5th from left), chairman of NH Nonghyup Financial Group and Kwon Joon-hak (fourth from left), president of NH Bank pose for a photo shoot with executives and employees after the event. (Photo: NH Nonghyup Financial Group)

NH NongHyup Financial Group, which declared it would phase-out financing coal projects, is emphasizing eco-friendly financing by expanding financial support to agricultural New Deal infrastructure projects.

The group declared its ESG vision and coal phase-out financing at the 2021 Management Strategy Meeting in February.
According to NongHyup Financial Group, it will invest 15.6 trillion won, including 8 trillion won from NH NongHyup Bank, in the Korean New Deal over the next five years.

It is planning to actively support eco-friendly agriculture, such as smart farms, and invest in renewable energy, ESG bonds and funds.

As a result, NH NongHyup Financial Group announced that its affiliates jointly established the Green New Deal Infrastructure ESG Fund.

The 150 billion won fund was created to invest in eco-friendly economy projects, such as agriculture-related New Deal infrastructure projects, green energy sectors and hydrogen charging infrastructure.

In particular, it is preparing financial support for the establishment of smart farms in line with the NH NongHyup-Type Smart Farm Project, which is strategically being pursued with the National Agricultural Cooperative Federation and NongHyup Agribusiness Group Inc.

NH NongHyup Financial Group also started a project to increase social value in the overseas business sector. It is promoting agricultural education for residents in farming areas in Cambodia. It is exploring business opportunities in the U.S., China, and Indonesia as well.

NH NongHyup Financial Group had been stigmatized as one of the culprits behind coal-fired power generation, so the group is active in promoting ESG management nowadays.

NH Bank had ranked first in financing coal-fired power plants among Korean banks, with 676.9 billion won invested. In the life insurance sector, NongHyup Life Insurance came in second, with 2,691 billion won after Samsung Life Insurance.

Accordingly, NH NongHyup Financial Group stood fourth following Samsung, KB Financial Group and Hyundai Marine Insurance.

In addition, Solution for Our Climate, an environmental group, said in 2018 that NH NongHyup Financial Group and its affiliates posted 3,853.7 billion won in corporate bonds and loans for the construction of domestic private coal-fired power plants and coal-fired combined heat and power plants.

“In February, NH NongHyup Financial Group declared coal phase-out financing and stopped acquiring new loans and bonds related to coal-fired power generation, and making investments in it,” said an official of NH NongHyup Financial Group.

“We have honored international agreements and obtained certificates based on international standards and are actively spearheading ESG campaigns.”

In the meantime, NH NongHyup Financial Group held the “2021 NH NongHyup Financial Group Brand Day” Event at the lobby of NH NongHyup Bank's headquarters in Jung-gu, Seoul on June 17.

The event was held to celebrate the 60th anniversary of NH NongHyup Financial Group’s founding, and to enhance the value of its brands.

In the exhibition space, a tower showed NH NongHyup Financial Group's flagship slogans, characters, product and service brands since the launch of NH NongHyup Financial Group in 2012 as one symbol.

A photo zone commemorated the history of NH NongHyup brands which have grown with farming communities and farmers for a long time.

NH NongHyup Financial Group expressed all its employees’ commitment to serve as financial experts for every moment of customers’ lives through the group brand slogan “Every Moment of Finance.”

NH NongHyup Bank selected and displayed eight brands including “All One Bank,” a financial platform that provides easy financial services and “NH Asset Plus,” a personalized general asset management service.

All One Bank has been selected by more than seven million customers since its launch in 2016. It has become a representative brand of NH NongHyup Financial Group by providing all of its financial services, including deposits, loans, insurance, and credit cards at one stop.

Meanwhile, NH NongHyup Life Insurance and NH NongHyup Insurance are communicating with customers by selecting “Like My Heart” and “Considering Others” as their respective brand slogans.

The slogans express employees’ sincerity to become strong supporters of customers.