NH NongHyup Financial Group to Give Financial Support to Typhoon Hinnamnor Victims

Son Byung-hwan, chairman of NongHyup Financial Group, presides over an emergency meeting of Typhoon Hinamnor at the headquarters of Gyeongnam NongHyup in Changwon, South Gyeongsang Province. (Photo: NH NongHyup Financial Group)

NH NongHyup Financial Group will provide support to residents hit hard by Typhoon Hinnamnor, the company said.

Group Chairman Son Byung-hwan visited Changwon and Haman-gun, Gyeongnam to check in on damage and give comfort to farmers on Sept. 6, NH NongHyup Financial Group announced on Sept. 8.

After receiving a report on damage from the typhoon in the nation’s southeast region, Chairman Son discussed countermeasures with Kim Joo-yang, head of the Gyeongnam Regional Headquarters of the National Agricultural Cooperative Federation, Choi Young-sik, head of the Gyeongnam Sales Headquarters of NongHyup Bank, and Hwang Seong-bo, head of Dong Changwon Branch of the National Agricultural Cooperative Federation.

Afterwards, Chairman Son met with Gyeongnam Province Governor Park Wan-su at the Gyeongnam Provincial Office.

Chairman Son promised to provide labor support and comprehensive financial measures for farmers who suffered damage. He also donated agricultural products such as rice and kimchi to the victims.

NH NongHyup Financial Group will provide comprehensive financial support through its affiliates to support typhoon-stricken areas.

It drew up a company-wide support activity plan for helping employees.

NongHyup Bank provides preferential interest rates of up to 1.6 percentage points for damaged customers with up to 100 million won in new loans and 500 million won in corporate loans.

In addition, it will also provide benefits such as agricultural policy funds and agricultural financial consulting support for affected farmers, and temporary fee exemption for using automatic teller machines in damaged areas.

NH NongHyup Card decided to defer card payment for up to six months for residents and farmers in the affected areas.

NH NongHyup Life will defer payment of insurance premiums, loan interest and payment by installment.

NH Property and Casualty Insurance will speed up damage assessment and pays insurance money as quickly as possible.

Event to Donate Rice Welcome Chuseok holiday

NH NongHyup Financial Group announced on Aug. 28 that it held a rice donation event to welcome the Chuseok holidays at Namseoul NongHyup in Seoul on Aug. 26.

This event was planned to practice socially responsible management through local community support in which members of the holding company board directly participate.

The board of directors of NH NongHyup Financial Group prepared 400 bags of Korean rice to promote the consumption of agricultural products and reach out to the underprivileged over the upcoming Chuseok holidays.

The rice will be delivered to families hit hard by heavy rains, low-income families suffering from COVID-19 and undernourished children and multicultural families in the region through welfare groups.

Chairman’s Visit to Muhak Co.

NH NongHyup Financial Group announced on September 7 that Group Chairman Son Byung-hwan took a tour of liquor production facilities at the headquarters of Muhak Co. in Bongam-dong of Changwon and held a ceremony to deliver an excellent ESG management company appreciation plaque to the company.

Muhak Co. is a representative local company in Gyeongsangnam-do with a 100-year-long tradition.

It produced alcoholic products using locally produced rice and barley while conducting various social contribution activities such support for the marginalized, sponsoring local cultural and artistic activities and events and helping local farmers.

Muhak Co. has continuously implemented ESG management since signing a companion agreement with NH NongHyup Bank’s Gyeongnam Headquarters in May last year to achieve the common goal of ESG management the Ministry of Agriculture, Food and Rural Affairs selected it as a social contribution-certified company.

“People in Gyeongnam are going through a difficult time due to a resurgence in COVID-19 infections and three highs — high prices, high interest rates, and high exchange rates,” Chairman Son said.

“I am grateful to Muhak Co. for participating in social contribution activities such as supporting the vulnerable and helping rural people with NongHyup.”