NongHyup Bank has created an eco-friendly bankbook for the first time in Korea’s financial sector. Paper bankbooks were issued for senior citizens unfamiliar with digital financial transactions. Eco-friendly materials went into the paper for the bankbook.
NongHyup Bank announced on November 29 that it will supply eco-friendly bankbooks to NongHyup Bank’s branches across the nation beginning November 30.
“Until now, NongHyup Bank has been trying to implement environmental, social, governance (ESG) management by providing preferential interest rates if a customer does not want the issuance of a paper bankbook when he or she sign up for a banking service,” a NongHyup Bank official said.
“But paper bankbooks are still in demand among some customers, including the elderly, who are not familiar with digital financial transactions. We still plan to strengthen ESG-based customer-oriented management through production of eco-friendly bankbooks.”
The eco-friendly bankbooks created by NongHyup Bank will be issued by customers who subscribed to deposit and installment savings products. In the future, it will be expanded to other bankbooks.
They are made of certified eco-friendly paper. The paper is based on rice husks, recycled pulp and soybean oil. Currently, the paper is waiting to receive an eco-friendly certification mark in Korea.
“We have created eco-friendly bank accounts to promote customer demand and ESG management,” said Kwon Joon-hak, president of the bank. “We will continue to actively participate in community efforts and take the initiative in ESG management to rev up local economies and realize carbon neutrality.”
NongHyup Bank is currently running the ESG Promotion Committee, which oversees the direction of ESG management strategy establishment and implementation.
The bank also launched NH Eco-Friendly Company Loan that gives preferential treatment to eco-friendly companies and Green World Deposit and Installment Savings, NH Agro-Food Green Growth Theory, which applies lower interest rates to those who took part in the protection of the environment.
NongHyup Bank delivers a total of 60 million won in scholarships to 23 promising athletes at its headquarters in Jung-gu, Seoul on November 29. Bank President Kwon Joon-hak (in the middle of the front line) poses for a photo with the sports prospects. (Photos: NongHyup Bank)
Scholarships for Sports Prospects
NongHyup Bank delivered scholarships to promising sports players who make efforts despite their difficult environments.
NongHyup Bank held an event at its headquarters in Seoul on Nov. 29 to give scholarships to 23 promising athletes. The bank delivered a total of 60 million won in scholarships to 23 prospects in five sports - tennis, soft tennis, Ssireum (Korean wrestling), golf and billiards which are events sponsored by NongHyup Bank.
“We would like to give small hopes to sports prospects with infinite potential to help them grow into future national players who will represent Korea on the world stage,” President Kwon said.
“NongHyup Bank will pump up its efforts to discover and foster young prospects.” NH NongHyup Bank which celebrated its 60th anniversary this year has been running sports teams since 1959.
In 1974, the NH NongHyup Bank Tennis Team was founded. Since 2017, various professional sports will also be supported to emphasize NongHyup Bank’s young, dynamic and sleek image.
Currently, the bank is sponsoring professional golfers and is running a professional gaming team and a professional billiards team.
NH NongHyup Bank will also serve as title sponsors of Ssireum tournaments starting in 2022. “The image of NongHyup Bank fits well with Ssireum as NH NongHyup Bank is in close contacts with farmers, farming towns, local economies and Shintoburi (the non-dualism between human and land).” President Kwon said.
“NongHyup Bank has decided to sponsor the traditional Korean wrestling registered in the UNESCO as Korea’s intangible cultural heritage of humanity.”
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