Strengthening Overseas Store Operations... NongHyup Financial Holds 'Global Strategy Council' Meeting

Preparing for Economic Slowdown and Increased Volatility in Gyeonggi

Kim Yong-gi, Vice President of the Business Strategy Division at NongHyup Financial Group, is presiding over the "3rd Global Strategy Council" at the headquarters in Jung-gu, Seoul on the 26th. (Photo by NongHyup Financial Group)

[Asia Economy Reporter Minwoo Lee] NongHyup Financial Group has decided to manage its overseas branches more solidly and prepare for economic slowdown and increased volatility.

On the 27th, NongHyup Financial announced that it held the 3rd Global Strategy Council the day before at its headquarters in Jung-gu, Seoul. The meeting was chaired by Kim Yong-gi, Head of Business Strategy Division (Vice President) of NongHyup Financial, and attended by heads of global business departments of affiliates and all overseas branch managers of NongHyup Financial.

At the meeting, they reviewed the major achievements of overseas business this year and the year-end business completion plans, examined the management environment amid trends of low growth, high interest rates, and strong dollar, and discussed key tasks for next year.

Earlier, NongHyup Financial established a first-phase global network of 21 branches in 10 countries as planned, starting with the launch of customer-facing operations at NongHyup Bank’s Hong Kong branch (April), the opening of NH Investment & Securities’ London office in the UK (April), the opening of NongHyup Bank’s Beijing branch in China (July), and the opening of NongHyup Bank’s Sydney branch in Australia (September). The NongHyup Bank Noida branch in India is scheduled to open in the first half of next year.

Additionally, using the 'NongHyup Financial Southeast Asia Fintech Investment Fund' launched in Singapore, they plan to discover promising local fintech platforms and seek collaboration opportunities.

Vice President Kim Yong-gi said, "2023 is an important year to lay the cornerstone for achieving NongHyup Financial’s global mid- to long-term management goals. We must build a solid growth foundation and establish a meticulous internal control system to thoroughly prepare for expanding internal and external uncertainties."

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