NH Nonghyup Financial Group Launches Full-Scale Establishment of 'NH Smile Finance Foundation'

Major affiliates including the bank to jointly contribute 100 billion won
Tailored products for farmers and young people returning to rural areas
Revitalizing local economies through specialized Smile Finance products

NH Nonghyup Financial Group announced on the 22nd that it held a kickoff meeting for its task force (TF) on the 21st to establish the NH Smile Finance Foundation.

View of NH NongHyup Financial Group. NH NongHyup Financial Group

Nonghyup Financial's Smile Finance business will be promoted at the group level. Major subsidiaries, including the bank, securities, insurance, and capital arms, will jointly contribute 100 billion won to establish the foundation. The head of the inclusive finance division under the group’s control tower, the Special Committee on Productive Finance, will directly lead the task force.

In particular, Nonghyup Financial plans to supply Smile Finance products centered on local regions. In addition to existing Smile Finance products such as startup and operating funds and living stabilization loans, tailored products will be offered for farmers, as well as for young people returning or relocating to rural areas. The company also plans to differentiate accessibility by leveraging its province- and county-level network, including branches nationwide.

Lee Chan-woo, Chairman of NH Financial Group, stated, "Inclusive finance that protects the lives of the people, including Smile Finance business, is not a choice but an obligation for financial companies," adding, "We will take the lead in revitalizing local economies at the city and county level with specialized Smile Finance products. At the same time, we will concentrate the group's capabilities to become the best financial group by expanding creative and effective inclusive finance."

Nonghyup Financial, in addition to establishing the Smile Finance Foundation, will steadily promote plans to expand local and inclusive finance in the second half of this year, such as developing a social solidarity finance model for village enterprises, making an early special contribution to regional credit guarantee foundations, and providing support for those with long-term arrears and financially vulnerable groups.

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