Kwon Jun-hak, President of NongHyup Bank, Visits Pig Farming Smart Farm for Support Inspection and Encouragement

On-site Meeting for Financial Support of Young Entrepreneurial Farmers

NongHyup Bank President Kwon Jun-hak is presenting a Farming Startup Success Plaque to prospective farmer Choi Sung-kyu and taking a commemorative photo. From the left in the photo are Kim Gil-soo, Head of NongHyup Bank Gyeonggi Sales Headquarters; Kwon Jun-hak, President of NongHyup Bank; prospective farmer Choi Sung-kyu; and Choi Ju-sik, CEO of Inseong Livestock.

[Asia Economy Reporter Park Sun-mi] NH Nonghyup Bank President Kwon Joon-hak visited the site in person to support start-ups for young entrepreneurial farmers and wished for their successful settlement in farming.

According to Nonghyup Bank on the 9th, President Kwon and agricultural finance consultants visited the farm of young farmer Choi Sung-gyu (27), who is preparing to start a business by constructing a smart pig farm in Pocheon-si, Gyeonggi-do the previous day, checked the start-up preparation status, and held a meeting for financial support.

Choi, CEO of the soon-to-be-built ‘95 Farm’, is a successor farmer who graduated from Korea National College of Agriculture and Fisheries and gained practical experience at his father's pig farm. Through Nonghyup Bank’s ‘Life Cycle Consulting’ and financial support for young farmers, he plans to complete a smart pig farm with 240 sows within this year. He is preparing the business with a goal of shipping 5,900 fattening pigs in 2022.

Nonghyup Bank provides ‘Life Cycle Consulting’ covering farm establishment, market development, and farming guidance to support young farmers’ start-ups, assisting farmers throughout all stages of farming from business plan development to post-management.

CEO Choi explained, “My vague smart farm start-up plan became clear after receiving advice from Nonghyup Bank consultants,” adding, “Through the consulting, I was able to reduce the smart farm construction cost by as much as 600 million KRW.” In response, President Kwon said, “I wish for the prompt start-up and successful farming settlement of 95 Farm,” and added, “Nonghyup Bank will fulfill its role as an agricultural finance specialized bank by providing various financial supports and consulting so that young farmers leading Korea’s future agriculture can successfully take root in agricultural and rural sites.”

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