NongHyup Bank Launches NH Agricultural Food Enterprise Preferential Loan

From the left, Hwang Yunchang, Head of Uijeongbu Station Finance Center at NH Nonghyup Bank; Choi Soonche, Head of Marketing Support Department at NH Nonghyup Bank; Lee Seokyong, President of NH Nonghyup Bank; Hwang Hyeon, CEO of Sinsun P&F; Kwon Jaehan, Director of Agricultural Innovation Policy Office at Ministry of Agriculture, Food and Rural Affairs; Yoo Hangjin, Director of Sinsun P&F; and Seo Junho, Head of Agricultural Finance Department at NH Nonghyup Bank, are posing for a commemorative photo at the NH Nonghyup Bank headquarters' medium conference room in Jung-gu, Seoul, on the 30th of last month during the launch event of the NH Agricultural Food Enterprise Preferential Loan.

NH Nonghyup Bank announced on the 2nd that it has launched the NH Agrifood Enterprise Preferential Loan to support growth in the agrifood sector.

The NH Agrifood Enterprise Preferential Loan is a product that introduces for the first time the NH Agrifood Excellent Technology Index, a non-financial evaluation system independently developed by Nonghyup Bank. Target companies are evaluated from the highest grade 1 to the lowest grade 3 based on their possession of excellent technology, growth potential, outstanding certification records, and award history, providing an additional limit of 15% and a preferential interest rate of up to 2 percentage points.

At the launch event, Kwon Jae-han, Director of the Agricultural Innovation Policy Office at the Ministry of Agriculture, Food and Rural Affairs, said, "With the launch of this product, we expect to improve the existing collateral-centered loan system and facilitate smooth funding for companies with high technological capabilities and growth potential." He added, "The government plans to support the inflow of more private capital into the agrifood industry with high potential through linkage with the private financial system."

Lee Seok-yong, President of Nonghyup Bank, stated, "We will expand financial support for agricultural enterprises with growth potential and provide a foundation for them to grow into excellent companies." He continued, "As the only specialized commercial bank supporting the agricultural sector in Korea, we will continue to strive to play the role of a facilitator for private sector investment in agriculture."

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