NongHyup Bank announced on April 30 that it signed an export financing business agreement with the Korea Defense Guarantee Cooperative to support Korean defense companies’ overseas expansion.
The signing event took place at the bank’s headquarters in Jung-gu, Seoul.
The Korea Defense Guarantee Cooperative is a specialized mutual aid organization launched to promote Korean defense companies’ autonomous economic activities and the Korean defense industry’s steady growth.
The agreement was signed with the aim of strengthening export financial support, including laying the foundation for Korean defense companies breaking into global markets and fostering small and medium-sized Korean defense companies with advanced technologies.
Eom Eul-yong, vice president of corporate banking at NongHyup Bank poses for a photo with Kim Hee-chul, vice chairman of the Korea Defense Guarantee Cooperative after signing an export financing agreement on April 30.
NongHyup Bank provides various financial support for members of the Korea Defense Guarantee Cooperative to support the globalization of Korean defense companies, including issuing guarantees for their defense export contracts and financial support using mutually beneficial financial products.
“This agreement will be an opportunity to build mutual understanding and provide practical export benefits to member companies of the Korea Defense Guarantee Cooperative,” said Kim Hee-cheol, vice chairman of the of the Korea Defense Guarantee Cooperative who participated in the signing ceremony.
“NongHyup Bank will spare no effort to provide financial support to Korean defense companies’ exports as Korean defense companies are already recognized in the world defense market, so that they will be able to further solidify their positions on the global stage,” said Eom Eul-yong, a deputy head of the Corporate Finance Division at NongHyup Bank.
MOU on Retirement Pensions with Korean Government and KODIT
NongHyup Bank announced on May 2 that it signed a business agreement with the Ministry of Employment and Labor and Korea Credit Guarantee Fund (KODIT) for a financial support project to expand retirement pensions at the Korea Bank Hall in Jung-gu, Seoul.
This business agreement was signed to ease the burden of preparing funds for small and medium-sized enterprises that have introduced retirement pension systems and to ensure workers’ entitlements.
It provides incentives, such as the deduction of guarantee fees and lower interest rates, through agreement guarantees.
A total of 12 organizations participated in the project, including the Ministry of Employment and Labor, KODIT, NongHyup Bank and other financial institutions.
NongHyup Bank plans to supply agreement guarantees through special contribution and guarantee fee support beginning from the second half of 2025 with the signing of this agreement.
“We hope that this MOU will contribute to increasing workers’ retirement income,” said Lee Young-woo, a deputy head of the Investment Products and Asset Management Division who attended the event.
“NongHyup Bank will steadily expand its retirement pension business for win-win growth with customers.”
Housing Subscription Savings Promotion
NongHyup Bank announced on May 1 that it will hold a housing subscription savings promotion titled, “Starting with Housing Subscription Savings for New Home,” from June 30 to May 2.
During the promotion, prizes will be given to 2,000 customers who sign up for Housing Subscription Savings or Youth Housing Subscription Savings Bankbook at branches or through non-face-to-face channels during the promotion period and register for monthly automatic transfers of money.
The prizes include a travel voucher of 2 million won for one person, the LG Standby Me 2 for three people, four meal vouchers for Shilla Hotel The Parkview for six people, and a 10,000 won Naver Pay voucher for 1,890 people.
_농협 강태영 사장.jpg)
_NH농협은행방위산업공제조합.png)
