NH Nonghyup Financial Group Begins Full-Scale Establishment of Group AI Governance

Proactively Responding to Financial Regulators' AI Operating Standards

Establishing an Integrated Management System at the Group Level

Securing Both Customer Trust and Future Competitiveness

NH Nonghyup Financial Group announced that on the 12th, it held the 'Nonghyup Financial Group Artificial Intelligence (AI) Governance Establishment Kick-off Meeting' at its headquarters in Jung-gu, Seoul, and officially began efforts to establish a company-wide AI governance system.

Jusik Kim, Head of AI and Digital Strategy Division at NH Nonghyup Financial Group (fourth from the left in the front row), and employees are posing for a commemorative photo at the 'NH Nonghyup Financial Group AI Governance Establishment Kick-off Meeting' held on the 12th.

Recently, the adoption of generative AI and AI agent-based services has been rapidly spreading, while regulatory environments both in Korea and abroad have entered the institutionalization stage. In particular, following the enforcement of the AI Framework Act in January of this year, the Financial Services Commission is expected to announce AI guidelines for the financial sector, which is further specifying AI management standards for the industry.

In line with this regulatory direction, NH Nonghyup Financial Group has begun work to establish a comprehensive AI governance framework across the organization. Starting with the development of group-wide standards over the next approximately eight months, the company will proceed to internalize these guidelines within each subsidiary—including banking, insurance, securities, capital, and savings banks—and ultimately design an AI governance framework unique to NH Nonghyup Financial Group.

Furthermore, the group will activate an enterprise-wide implementation system involving relevant departments such as organization, risk, internal control, IT, and information security, to review and design the various internal regulations and frameworks that constitute the governance system.

An official from NH Nonghyup Financial Group stated, "AI governance is not a control mechanism that slows down change, but a safety mechanism to accelerate progress," adding, "The key to this project will be finding the right balance to create a virtuous cycle of innovation and trust."

NH Nonghyup Financial Group stated that, through the successful completion of this project, it aims to further elevate the group's overall AX competitiveness and solidify its position as a trusted financial group in the era of AI.

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