NH NongHyup Financial Group Aims to Lead Renewable Energy Market with Hypothesis-Based and Demonstration-Oriented New Businesses

NongHyup Financial Group Holds New Business Promotion Council Meeting

NH NongHyup Financial Group announced on June 11 that it will proactively engage in hypothesis-based and demonstration-oriented new businesses to respond to the rapidly changing environment and shifts in government renewable energy policies.

The previous day, NongHyup Financial Group held a Group New Business Promotion Council meeting in the main conference room of the NH NongHyup Financial Tower headquarters in Jongno-gu, Seoul, presided over by Lim Dogon, Head of Growth Strategy.

The council brought together heads of new business divisions from the holding company and its subsidiaries to seek out innovative solutions and inter-affiliate cooperation measures designed to respond preemptively to the fast-changing environment and changes in government renewable energy policy, as well as to expand the group’s future financial territory.

During the meeting, NongHyup Financial Group engaged in in-depth discussions and reviews on the direction of new business development for NH NongHyup Financial. The agenda included the latest trends and insights in the finance sector’s new business landscape, enhancement of information-sharing and collaboration models among subsidiaries, expansion of new growth engines in line with the government’s renewable energy master plan, sharing of new business promotion cases within subsidiaries, and the group’s approach to supporting and evaluating new business initiatives.

In particular, there was a consensus on the need to shift toward “demonstration-oriented new business promotion,” which involves identifying niche markets through hypothesis setting and rapid verification, in order to respond flexibly to changes in the economic and financial environment.

NongHyup Financial Group plans to leverage the government’s policy of expanding investments and financing in renewable energy as a new growth opportunity, securing a medium- to long-term corporate loan base to improve profitability. It also aims to maximize synergy by efficiently building an information-sharing system for promising industry trends and future technologies, enabling its subsidiaries to quickly explore new business opportunities.

Lim stated, “We must actively drive hypothesis-based and demonstration-oriented new businesses that align with the evolving needs of future customers,” adding, “We will work to enhance the collaboration system among subsidiaries to deliver tangible synergy and results that can be felt in the field.”

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