The 56th Annual Meeting of the Asian Development Bank (ADB) kicked off in Songdo, Incheon, on May 2. NongHyup Bank participated in the event along with its sister companies.
The ADB Annual Meeting is ADB’s largest event, where finance ministers and central bankers representing ADB member countries gather to discuss economic policy directions and promote cooperation in the region.
This year’s Annual Meeting was the first in-person meeting held in the three years since the outbreak of the COVID-19 virus. It went down into history as the largest meeting in ADB's history with approximately 5,800 participants.
The ADB meeting was held under the theme of “Rebounding Asia: Recover, Connect, and Reform,” which aimed to resume economic cooperation interrupted by COVID-19 and let participants discuss how Asian countries will be able to overcome the crisis and build a sustainable future.
ADB and Korea signed three strategic agreements to build resilience among developing economies of Asia and the Pacific by promoting access to climate technology, improving access to digital services, and enhancing sustainable and inclusive infrastructure development through public–private partnerships (PPPs) during the meeting.
NongHyup Bank created a networking hub space for visitors from Asian countries participating in the ADB meeting and organized a booth with contents to promote NongHyup Bank’s successful digital transformation and prepare for the future of digital finance in Asia together with other companies.
The networking hub space allowed visitors from Asian countries to see NongHyup Bank's digital transformation achievements.
Visitors tried NongHyup Bank’s artificial intelligence (AI) banker and biometric authentication services which are available at 14 airports, including Incheon and Gimpo airports in Korea and even a NongHyup Bank metaverse and comprehensive financial platform NH All One Bank in the NongHyup Bank booth.
They also experienced NH Today Farming, a comprehensive farming platform of the National Agricultural Cooperative Federation (NACF) closely connected to NongHyup Bank in the NongHyup Bank pavilion.
This is a platform that utilizes various agriculture-related data held by the NACF and other agriculture-related organizations to provide various services to help farmers.
NH Healthcare, the healthcare platform of NH Life Insurance, was another digital highlight at NongHyup Bank’s booth. NH Life Insurance is a sister company of NongHyup Bank.
NongHyup Bank’s booth operation and promotion were carried out by students from N-Dolphin, a college student volunteer organization that will lead the future of digital finance.
“We provided an opportunity to use new technology-based digital finance that NongHyup has been developing through this ADB meeting,” a NongHyup Bank official said. “We will continue to actively engage in a digital transformation for future finance.”
Meanwhile, NongHyup Bank announced on May 3 that NongHyup President Lee Seok-yong visited MDS Korea in Paju City, Gyeonggi-do, on May 2 in order to commemorate MDS Korea being honored as “Company for Korean Farmers” by NongHyup Bank.
President Lee conducted a signboard hanging ceremony with MD Korea CEO Moon Dong-joon and listened to ideas on how to make food with Korean agricultural products.
NongHyup Bank has been selecting “Companion Companies for Korean Farmers” to promote win-win development between Korean farmers and agro-food companies.
This year, NongHyup Bank will select 10 companies to help farmers and companies grow sustainably by providing preferential credit, product sales, and promotion support.
MDS Korea has been manufacturing home meal replacements since its establishment in 1995.
It began with production of wellness salads and is developing products through strict quality control and continuous research through the company’s affiliated research institute for "the best, most delicious and safest foods."
“We will do our best to enhance the identity of NongHyup Bank as a specialized agricultural finance institution by actively discovering and supporting agro-food companies that utilize Korean agricultural products, such as MSD Korea,” President Lee said.
_농협은행 디지털전환 부스.jpeg)
