NongHyup Financial Group Achieves 'A+' in Governance Evaluation by Korea ESG Standards Institute
All Affiliates Including Banks, Life, and Non-Life Insurance Achieve A Grade
NongHyup Financial Group announced on the 30th that it received an A+ rating in the corporate governance evaluation for financial companies conducted this year by the Korea Corporate Governance Service (KCGS), a domestic ESG (Environmental, Social, and Governance) evaluation agency. All affiliates, including banking, life insurance, non-life insurance, securities, and capital, received an A rating.
The KCGS's "Financial Company Governance Evaluation" assesses the status of governance by reflecting international principles, domestic laws, and the characteristics of financial institutions. This year, the evaluation was conducted on 117 companies (55 listed companies and 62 unlisted companies).
NongHyup Financial received high scores in areas such as ESG strategy at the board level, climate risk review, and the roles of executives related to these matters. NongHyup Financial explained that through the establishment of a systematic governance structure at the group level, all evaluated affiliates, including the holding company, received excellent evaluation grades (A grade or higher).
NongHyup Financial stated, "This result is the outcome of our substantial and concrete ESG management efforts," and added, "We have established a new ESG vision called 'The Beginning of Creating the Future, The Moment You Meet NongHyup Financial' and will advance ESG management by implementing ESG development tasks."
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They are also establishing and promoting various new business models, such as creating a carbon market ecosystem and participating in global climate change projects. Additionally, they plan to contribute further to agricultural and rural areas and national development by establishing a sustainable growth system and fulfilling environmental, social, and economic responsibilities.
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