New NongHyup Financial Group Chmn. Lee Suggests Two Strategic Tasks

A view of the NH NongHyup Financial Group’s headquarters in Jung-gu, Seoul. (Photos: NH NongHyup Financial Group)

Chairman Lee Suk-joon, former minister of the Office for Government Policy Coordination, took office as chairman of NongHyup Financial Group on Jan. 3.

Chairman Lee Suk-joon of NongHyup Financial Group, who took office on Jan. 2, suggested two strategic tasks: realizing the life financial ecosystem and completion of open business models.

In his inaugural speech, Chairman Lee declared the future vision “A 100-year NongHyup Together with All Moments of Financing,“ saying that the vision of NongHyup Financial Group looking into the next 10 years and subsequent strategic tasks have been finalized anew.

Chairman Lee picked the two strategic tasks to achieve the vision: ‘realizing the life financial ecosystem and completion of open business models’.

Chairman Lee said, “We should achieve the intrinsic purpose of agriculture financing based on the competitiveness foundation of synergetic effects, coupled with agriculture financing, including subsidiaries and pursue sustainable management.”

He said NongHyup Financial Group will implement the vision and strategies in a speedy fashion by internalizing them.

“I will let each member of NongHyup Financial Group recognize the vision and strategies and carry out them fast, and it will be impossible without sympathy and positive willingness to put them into practice,” Chairman Lee said.

“I want NongHyup Financial Group to serve as a catalyst to expedite NongHyup’s organic ecosystem, and we have to have wisdom to solve problems by respecting each other’s position through proactive communication with inside units, including the National Agricultural Cooperative Federation,” he said.

Chairman Lee said, “Now that the financial environment is changing fast, NongHyup Financial Group will accelerate efforts to explore new business models through cooperation with outside ecosystem.”

“Ten years have already passed since NongHyup Financial Group shifted into a holding company structure, and the channel of transferring financial services has change into a mobile mode during the period, and we’ll come to individuals, startups and SMEs with new ideas and new business models with an open mind since the financial market is changing fast to the extent that new financial products have sprung up every day,” he said.

“We only now cannot offer financial services enough to satisfy customers in a speedy fashion, and if conditions are granted, we’ll aggressively collaborate with outside ecosystems,” he said.