Shinhyup Reports 338.1 Billion KRW Net Profit for 19 Consecutive Years of Surplus... "Expanding Inclusive Finance"

On the 26th, Kim Yoon-sik, Chairman of the National Credit Union Federation of Korea, is delivering a commemorative speech at the 48th Regular Delegates' Meeting held at the National Credit Union Training Center in Yuseong-gu, Daejeon.
[Photo by National Credit Union Federation of Korea]

[Asia Economy Reporter Song Seung-seop] The National Credit Union Federation of Korea (NACUFOK) announced on the 26th that the net income of credit unions last year reached 383.1 billion KRW, achieving a surplus for the 19th consecutive year.

On the same day, NACUFOK held its 46th regular general assembly at the NACUFOK Training Center in Yuseong-gu, Daejeon, where it announced the status of total assets, loans, and net income.

According to the federation, the net income of credit unions recorded 338.1 billion KRW, an increase of 13 billion KRW compared to the previous year. During the same period, assets grew by 8.3% (approximately 8.5 trillion KRW), and the loan volume expanded by 7.9% to 78.9 trillion KRW, an 11% increase year-on-year.

Meanwhile, Kim Yoon-sik, chairman of NACUFOK, who attended the general assembly, presented the management goal of becoming "the best financial cooperative with enhanced social clarity and credibility." To achieve this, the federation plans to pursue ▲ strengthening loan competitiveness for sustainable growth ▲ supporting rural and small credit unions for mutual development among cooperatives ▲ enhancing competitiveness in the untact era through activation of non-face-to-face channels ▲ and reinforcing NACUFOK’s identity by expanding social and inclusive finance.

The "7 Major Inclusive Finance Projects" will also be expanded. This project, launched in 2018, is a social contribution initiative aimed at addressing social issues such as aging, low birth rates, employment crises, and financial exclusion.

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