Gangwon Province Selects Treasury Banks for 2026-2029 Operations

NH Nonghyup Bank Selected as Primary Treasury Bank
Shinhan Bank Chosen as Secondary Treasury Bank

Gangwon Special Self-Governing Province (Governor Kim Jin-tae) announced on October 30 that it held the 'Gangwon Special Self-Governing Province Treasury Designation Review Committee' on the 28th and evaluated proposals submitted by financial institutions applying for treasury designation. As a result, NH Nonghyup Bank was selected as the primary treasury bank, and Shinhan Bank as the secondary treasury bank.

Exterior view of Gangwon Provincial Government Building. Provided by Gangwon Provincial Government

The province conducted a fair and objective evaluation of six criteria through a review committee composed of experts in relevant fields: ▲stability of financial structure, ▲deposit and loan interest rates, ▲convenience for residents, ▲treasury management capabilities, and ▲contribution to the local community.

The results of the provincial treasury selection will be announced in the provincial bulletin and on the official website within October, and agreements with the selected financial institutions are scheduled to be finalized in November.

The designated treasury banks will manage and operate the funds of Gangwon Special Self-Governing Province for the next four years. In addition to ensuring efficient fiscal execution, they will serve as financial partners for regional development by contributing to local economic revitalization and engaging in social contribution activities.

The primary treasury bank (NH Nonghyup Bank) will manage four funds, including the general account and the regional development fund, while the secondary treasury bank (Shinhan Bank) will be responsible for six special accounts, including the fire safety special account, and eleven other funds.

Meanwhile, based on the second supplementary budget for 2025, the scale of treasury fund management is expected to reach approximately 8.27 trillion won for the primary treasury bank and about 1.5282 trillion won for the secondary treasury bank.

Yeo Jung-hyup, Vice Governor for Administrative Affairs of Gangwon Special Self-Governing Province, stated, "We hope that the selected banks will become strong financial partners, providing better financial services to residents and contributing to regional economic development through close cooperation with the local community."

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