NongHyup Financial Group Celebrates Completion of Wastewater Treatment Facility in Vietnam

On May 30, Lee Chan-woo, chairman of NongHyup Financial Group poses for a photo with Park Il-young, president of Korea Investment Corporation after inking an agreement on a joint investment in overseas private equity funds at NongHyup Financial Group Headquarters. (Photo : NongHyup Financial Group)

NongHyup Financial Group announced that it held a completion ceremony for NongHyup Financial Group’s global social contribution project, “NH Change Makers,” in collaboration with Good Neighbors, a global children’s rights NGO, in a village in Vinh Loc District, Thanh Hoa Province of Vietnam.

This project enabled local Vietnamese residents to solve social issues in rural areas of Vietnam on their own. It was implemented through a project competition targeting local residents.

The project gained additional significance as it was carried out in collaboration with the local governments such as receiving government subsidies.

Following the project’s competition in December 2024, 44 projects were submitted, and six projects in four regions, including Thanh Hoa Province near Hanoi, were selected and implemented.

Among these, the first project completed a wastewater treatment and hygiene improvement facility in Bao Village, significantly contributing to environmental improvements for local residents.

The completion ceremony was held on May 13. It was attended by Cho Jung-rae, vice president of NongHyup Financial Group’s Future Growth Division; Park Chang-oh, head of NongHyup Bank’s Hanoi Branch, Kim Jong-seok, head of NH Investment & Securities Vietnam, Sun Kim, head of Good Neighbors’ International Division and Park Dong-cheol, a representative of Good Neighbors Vietnam, Vietnamese government officials and local Vietnamese residents.

“NongHyup Financial Group has grown based on agriculture and farming areas in Korea,” Vice President Cho said.

“We have considered the realization of sustainable development an important mission. It is very meaningful to be able to contribute to the growth of farming areas in Vietnam. We will continue to contribute to inclusive growth and making an improvement in the quality of life based on our partnership with Vietnamese communities.”

Vietnam is an important country for NongHyup Financial Group’s global business expansion, with major subsidiaries of NongHyup Financial Group jointly breaking into the Vietnamese market.

The bank’s Hanoi branch, Ho Chi Minh City office, and securities subsidiary in Vietnam are actively conducting business in the local market.

MOU with Korea Investment Corporation for Joint Overseas Investment

NongHyup Financial Group announced on May 30 that it signed a memorandum of understanding (MOU) on joint investment in overseas private equity funds with Korea Investment Corporation at NongHyup Financial Group Headquarters.

Under this agreement, NongHyup Financial Group and Korea Investment Corporation will collaborate on joint investments in overseas private equity funds and support programs for Korean companies acquiring foreign companies.

To that end, NongHyup Financial Group will establish a private equity fund worth $100 million in the near future and proceed with joint investments with Korea Investment Corporation.

This agreement is expected to give NongHyup Financial Group an opportunity to consolidate its overseas investment capabilities, which are currently spread across its subsidiaries and secure investment opportunities in high-quality overseas deals through cooperation with Korea Investment Corporation.

Kickoff Meeting for Long-Term Strategy

NH NongHyup Financial Group held a kickoff meeting at its headquarters, chaired by Vice President Lee Jae-ho of the Strategy Planning Division, to discuss consulting on establishing a long-term strategy for NongHyup Financial Group on May 29.

The meeting was attended by heads of strategic planning departments of the holding company and its nine subsidiaries.

The consulting project will be conducted by PwC Consulting, EY Consulting, and Samil Accounting Firm until the third quarter of this year.

It aims to establish strategies to strengthen NongHyup Financial Group’s roles as a profit-making center within the NongHyup Financial Group and achieve sustainable growth in the rapidly changing financial industry.

The NongHyup Financial Group’s business portfolio will be reorganized with a focus on sharpening the competitiveness of core financial businesses, boosting the profitability of non-banking sectors and securing new growth engines for the future.

In addition, the financial group will review a synergy strategy that organically links various resources in NongHyup as well as a mid- to long-term capital management plan in preparation for profit growth and stricter capital regulations.