NongHyup Bank announced on Mar. 9 that its CEO visited the headquarters of Dabeeo, a spatial data-powered AgTech (Agriculture Technology) company located in Mapo-gu, Seoul, to review the growth status of companies invested in by NongHyup Bank’s agricultural and food fund and discuss support measures.
Established in 2012, Dabeeo is a startup based on spatial data (indoor/outdoor maps and digital twins) and AI technology.
The startup operates a smart agricultural monitoring business through its satellite image analysis platform, Eartheye Plantation.
The company received recognition for its global technological competitiveness, picking up the CES Technology Innovation Prize in the U.S., and is expanding its business based on investments with NongHyup Bank’s agricultural and food fund.
On March 9, NongHyup Bank CEO Kang Tae-young held a meeting with Dabeeo CEO Park Joo-heum and other executives of Dabeeo to discuss various topics, including the company’s growth status following NongHyup Bank’s investment in the company, management consulting and network support, the expansion of financial support including loans and guarantees and future growth strategies, including having an initial public offering.
NongHyup Bank is running a lifecycle value-up support system that combines financial and non-financial services for companies invested in the agri-food and AgTech sectors, from their investment stages to their growth and maturity stages.
Through this system, the bank plans to strengthen its roles as a productive financial institution by providing comprehensive support, encompassing not only investment but consulting, financial support, sales channels, and global network connections.
“Venture capital investment in the K-food and AgTech sectors is a key task for sharpening the future competitiveness of Korean agriculture,” NongHyup Bank CEO Kang Tae-young said. “NongHyup Bank will serve as a reliable financial partner that supports the growth of innovative companies and contributes to the development of the industry.”
Striking Business Agreement with U.S. Real Estate Platform Company
NH NongHyup Bank announced that it signed a business agreement for U.S. real estate investment consulting with Koriny, a specialized U.S. real estate platform, at the NH NongHyup Bank headquarters in Jung-gu of Seoul on Mar. 4.
Through this agreement, the two companies will strengthen cooperation to provide more professional and reliable information to customers interested in U.S. real estate investment and to discover various investment opportunities.
The main areas of the cooperation include providing U.S. real estate listings and investment information, customized consulting services for excellent customers and holding U.S. real estate investment seminars.
In particular, NongHyup plans to support customers in establishing overseas real estate investment strategies more systematically through seminars and consultations based on US real estate market information and investment trends in the U.S.
“This agreement is a strategic cooperation to more precisely respond to customers’ global asset management needs,” said Yoo Sang-hyun, head of the WM Business Division at NongHyup Bank.
“NongHyup Bank will continue to expand differentiated investment consulting services such as global investments to provide various asset management solutions to customers.”
Revamp of Benchmark Model for Productive Finance
NH NongHyup Bank announced on Mar. 9 that it has completely revamped its “Benchmark Model,” a non-financial corporate credit rating system, to improve the precision of the bank’s corporate credit risk management and expand productive financial support for companies with high growth potential.
The Benchmark Model is a data-driven evaluation model that comprehensively analyzes a company’s various financial and alternative information to automatically calculate a standard rating for each non-financial evaluation item.
It is used as a reference indicator to supplement the qualitative judgment of evaluators and enhance the objectivity and consistency of evaluations.
This revision expands the existing financial-based evaluation system to include a wider range of alternative information including sales and purchase transaction information, employment information, public disclosures, and external evaluations.
This allows for a more precise assessment of a company’s business competitiveness and future growth potential.
In particular, it is expected to further strengthen the financial support base for innovative companies and small and medium-sized enterprises with technological prowess and growth potential.
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