Hana Bank and NongHyup Bank Selected as Daejeon City's Next Treasury Custodians

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Hana Bank and NongHyup Bank have been selected as the next treasury banks of Daejeon City.

Daejeon City announced on the 1st that Hana Bank was selected as the first treasury bank and NongHyup Bank as the second treasury bank to operate the city's next treasury.

Earlier, to select the treasury banks, the city revised its autonomous regulations in the first half of the year to comply with the Ministry of the Interior and Safety's guidelines, and in July issued a public notice inviting applications for treasury designation through open competition. Subsequently, last month, the city held a proposal briefing and received proposals, completing the selection process to appoint the two banks as the next first and second treasury banks.

According to the selection results, Hana Bank will manage the general account, 11 special accounts, and the regional development fund, while NongHyup Bank will operate 6 special accounts and 16 funds.

Based on the original budget, this year's city budget amounts to 6.62 trillion KRW, including 4.72 trillion KRW for the general account, 960 billion KRW for special accounts, and 940 billion KRW for funds.

The financial institutions selected as the next treasury banks will sign treasury agreements with the city in September and will perform treasury duties for the city for four years starting next year.

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