NH Nonghyup Bank Links Systems with Ministry of Agriculture and Livestock... Simplifying Agricultural Policy Fund Loan Procedures

Simplified Agricultural Policy Loan Procedures Reduce Farmers' Effort

[Asia Economy Reporter Kangwook Cho] NH Nonghyup Bank announced on the 18th that it has significantly simplified the application procedures and required documents for agricultural policy fund loans through linkage with the Ministry of Agriculture, Food and Rural Affairs' Agricultural Business Information System (AGRIX).

The Agricultural Business Information System (AGRIX) is an administrative information computer system that integrates and manages agricultural business information so that farmers can quickly and conveniently receive information related to agriculture, forestry, and livestock industries.

Through this system, during the review of agricultural policy fund loans, agricultural management entity information inquiry and farming information (such as cultivated crops and cultivation area) for calculating farm management costs are automatically reflected in the computer system without the need for separate document submission, enhancing customer convenience. Additionally, the loan review system has been refined, resulting in overall business improvements.

An official from the Ministry of Agriculture, Food and Rural Affairs emphasized, "When there is a change in the farming information of an agricultural management entity, an application for change must be submitted to the relevant institution to facilitate smooth processing of agricultural policy fund loans and subsidy support."

An NH Nonghyup Bank official stated, "Nonghyup Bank will continue to collaborate with the Ministry of Agriculture, Food and Rural Affairs to provide farmer-centered agricultural financial services through system simplification and institutional improvements."

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