NongHyup Financial Group Holds Video Conference with Overseas Branch Managers from 9 Countries

Chairman Son Byunghwan Personally Oversees... Time for Communication with 16 Overseas Store Managers

Son Byung-hwan, Chairman of NongHyup Financial Group, is presiding over a video conference with overseas branch managers held on the 1st at the conference room of NongHyup Financial Group headquarters located in Jung-gu, Seoul.

[Asia Economy Reporter Kiho Sung] Son Byunghwan, Chairman of NongHyup Financial Group, had an open communication session with heads of 16 overseas branches across 9 countries under the group.

According to NongHyup Financial on the 2nd, Chairman Son personally presided over a video conference with overseas branch heads at the headquarters located in Jung-gu the previous day. During this meeting, Chairman Son urged proactive business initiatives that do not shrink in the face of difficult business environments such as the COVID-19 pandemic but rather use them as opportunities. He also reviewed and encouraged the business performance and current issues of each overseas branch.

In particular, he checked the increasingly chaotic local situation in Myanmar and requested a preemptive response prioritizing the safety of dispatched resident staff and local employees.

NongHyup Financial is pursuing a mid- to long-term management goal of achieving a net profit of 160 billion KRW from global business by 2025 and securing 28 overseas branches in 13 countries. NH NongHyup Bank and NH Investment & Securities are continuously expanding their overseas networks. NongHyup Bank is promoting the opening of branches in five key locations: Beijing, China; Hong Kong; Noida, India; Ho Chi Minh, Vietnam; and Sydney, Australia. Meanwhile, Investment & Securities is reviewing the expansion of its business bases in Europe along with strengthening the business models of existing overseas subsidiaries.

Localization through partnerships with overseas cooperatives is being led by NH NongHyup Capital. NongHyup Capital is playing a foothold role in the group’s global expansion by dispatching personnel to joint ventures with China’s Gongso Group and India’s largest cooperative, Indian Farmers Fertiliser Cooperative Limited (IFFCO), and actively conducting localized sales.

Chairman Son said, “At a time when everyone calls it a crisis, we must seize the opportunity for a leap forward and use it as a turning point to overcome it.” He added, “Please carry out business steadily even on the global front so that global business can firmly establish itself as a new growth engine for NongHyup Financial in the future.”

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