NongHyup Bank Receives Commissioner of National Tax Service Commendation on 'Taxpayer's Day'

Kim Dong-il, Director of International Tax Administration (right in the photo), and Nam Jae-won, Vice President, are holding certificates of commendation and posing for a commemorative photo.

[Asia Economy Reporter Kiho Sung] NH Nonghyup Bank announced on the 14th that it was selected as a tax administration collaborator on the occasion of the 55th Taxpayer's Day and received a commendation from the Commissioner of the National Tax Service.

This recognition was awarded for actively cooperating with the 'Automatic Exchange of Financial Information' and contributing to the development of the local community. The 'Automatic Exchange of Financial Information' is a system that regularly exchanges financial information with treaty partner countries under tax treaties, covering 102 countries as of last year.

Last year, Nonghyup Bank established a monitoring organization for the Automatic Exchange of Financial Information and has been operating inspection personnel on a regular basis to improve the accuracy of reporting data. Additionally, various efforts have been made to reflect the revised implementation regulations, including modification and supplementation of identity verification documents and improvement of business processes.

This year, through the overall advancement of the Automatic Exchange of Financial Information system, the bank plans to build a convenient system for both customers and employees by enhancing the accuracy of reporting data, improving non-face-to-face processes, and providing help guides during work processing.

Nam Jaewon, Vice President of the Marketing Division, who received the commendation on behalf of Nonghyup Bank, said, “As a financial institution that actively cooperates with all obligations for a transparent society, including the Automatic Exchange of Financial Information, we will become a reliable national bank that fulfills social responsibility and duty.”

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