NongHyup to Write Off 887.6 Billion Won in Long-Term Delinquent Loans and Expand Inclusive Finance by Over 15 Trillion Won

Supporting Economic Recovery for 90,000 Vulnerable Individuals
Launching Exclusive Low-Interest Products for Farmers
Establishing "Inclusive Finance Service Counters" at Agricultural Cooperatives Nationwide

The National Agricultural Cooperative Federation (NongHyup) announced on June 15, 2026, that it will write off or reduce a total of 887.6 billion won in long-term delinquent loans in 2026, and will provide inclusive finance totaling at least 15 trillion won plus additional funds over the next five years.

A NongHyup official stated, "In line with the government's inclusive finance policy, NongHyup is mobilizing the full capacity of the entire NongHyup group—including its banking, securities, capital, and savings bank subsidiaries under NH NongHyup Financial Group, as well as all local agricultural cooperatives and NongHyup Asset Management—to expand inclusive finance." The official added, "Through these efforts, we aim to provide substantial economic recovery support to vulnerable groups and further strengthen NongHyup’s public-interest role."

Exterior view of the NongHyup Headquarters.

First, NongHyup plans to support the recovery of approximately 90,000 people in vulnerable groups by writing off or reducing 887.6 billion won in delinquent loans. This year, NongHyup will write off 687 billion won in long-term delinquent loans, exempting about 64,000 people from collection burdens and supporting their credit recovery. From January to May this year, NongHyup already completed the write-off of 178.5 billion won in long-term delinquent loans, and plans to write off an additional 508.5 billion won by the end of the year.

In addition, for social care recipients such as the elderly and basic livelihood security recipients who hold delinquent debts overdue for more than three years, NongHyup will reduce a total of 200.6 billion won in principal and interest. Up to 90% of the principal will be reduced, and all unpaid interest will be waived. These measures aim to encourage sincere repayment and improve credit ratings for delinquent borrowers, helping them to resume normal financial activities. This reduction program will run for one year starting in July, and NongHyup expects that about 26,000 people in vulnerable groups will have their financial burdens alleviated.

NongHyup is also implementing a five-year "Inclusive Finance Support Plan" amounting to 15.3 trillion won. Through its banking, capital, and savings bank subsidiaries, NongHyup will provide 8.5 trillion won in loans to small businesses and the self-employed, and 6.8 trillion won in loans for low-income individuals and vulnerable groups.

In addition, NongHyup will offer exclusive low-interest loan products for farmers at local agricultural cooperatives nationwide and support the operation of "inclusive finance service counters" at regional cooperatives to improve financial accessibility for vulnerable groups. By installing these service counters, NongHyup will help elderly people and persons with disabilities conveniently access financial services, facilitate mobility, support access to information, and expand digital finance, allocating up to 11 billion won for these initiatives.

Ho-Dong Kang, Chairman of NongHyup, stated, "The write-off and reduction of long-term delinquent loans is part of our inclusive finance efforts to deliver hope for recovery to vulnerable groups who have faced long-standing economic difficulties." He added, "We will continue to expand inclusive finance at the group level, strengthen NongHyup’s public-interest role, and focus our capabilities on fulfilling our social responsibility."

This content was produced with the assistance of AI translation services.