NH NongHyup Financial Group held a ceremony at its headquarters in Jung-gu, Seoul on March 2 to honor the 10th anniversary of the establishment of the financial group.
The event was attended by Lee Sung-hee, chairman of the National Agricultural Cooperative Federation, former and current chairmen of the financial holding company, the chairman of the labor union and employees.
The number of people attending the site was minimized in consideration of the spread of COVID-19. The entire ceremony was live-streamed via YouTube for employees who could not attend the event.
At the ceremony, NH NongHyup Financial Group designated “Every Moment of Finance, 100 Years with NH NongHyup” as a new vision for NH NongHyup Financial Group. Employee representatives held a new vision declaration ceremony together.
The vision phrase contains NH NongHyup Financial Group’s will to provide happy experiences for customers based on group synergies and digital competitiveness, and to transform into a financial group with strong resilience by implementing a living finance ecosystem encompassing the financial and non-financial sectors.
To realize the vision, NH NongHyup Financial Group decided to push for five key strategic tasks — fostering living finance platforms as its main channel, promoting differentiated global business, taking the lead in ESG management, solidifying its position as an agricultural finance institution, and becoming a lifetime financial partner for customers.
First of all, fostering living finance platforms as its main channel means converging financial products and services scattered by affiliates into general financial platforms to let customers easily and conveniently experience finance at every moment of their daily lives and then advancing the living finance platforms into customized living finance platforms for automobiles, shopping, and healthcare services beyond finance.
With an eye towards promoting differentiated global businesses, NH NongHyup Financial Group plans to expand its global businesses by combining NH NongHyup Financial Group’s combination strategy to pioneer a new southern region in Southeast Asia.
It will do so by focusing its agricultural development and digital capabilities and its strategy to build global capital market infrastructure centered on advanced countries.
In particular, it plans to expand strategic investment, promote global-digital businesses centered on Southeast Asia, develop group-type cooperation projects with cooperatives and narrow the gap with other financial groups with differentiated strategies that expand and apply cooperative management philosophy to global networks.
In addition, for the purpose of leading ESG management, NH NongHyup Financial Group will expand green finance by establishing an enterprise climate change response system to invest in eco-friendly companies, energy, and infrastructure, and develop products to achieve carbon neutrality by 2050.
As the financial group has been a traditional powerhouse in agricultural finance and social contribution, it will further strengthen its values and customer trust by elevating its strategic position in the ESG sector.
Furthermore, NH NongHyup Financial Group plans to strengthen its position as a leading agricultural finance institution and expand agricultural finance into green finance.
Chairman Son Byung-hwan stressed that agricultural finance should change its direction from financial support to investment, in line with recent changes in the development of the agricultural and livestock industries.
Chairman Son also laid out a plan to expand investment in eco-friendly agriculture and discover and foster innovative companies in the agricultural and agro-food sectors to provide customized financial services tailored to companies’ growth stages from venture capital supply to an IPO.
Finally, in order to be reborn as “partner finance with customers for a lifetime,” it said it plans to provide financial services with fun and convenience to MZ generations and provide products and generational customized services across the world, with healthcare and customized asset management services to retired generations.
Chairman Son strengthened NH NongHyup Financial Group’s will and determination through the announcement of the group’s pledge for the future, calling on NH NongHyup Financial Group employees to secure higher expertise and insights into the future, saying “Let’s make NH NongHyup Financial Group’s prosper for more than 100 years together.”
