North Gyeongsang Province Maintains Nonghyup Bank and iM Bank System for First and Second Treasuries... KB Kookmin Bank's Challenge Fails

[Financial News] Nonghyup Bank and iM Bank have once again been selected as the next treasury operating institutions to manage North Gyeongsang Province's funds. KB Kookmin Bank, which submitted a new bid, remained in third place and failed to secure the treasury contract.
According to North Gyeongsang Province and others on the 17th, North Gyeongsang Province recently held a Treasury Designation Deliberation Committee meeting and designated Nonghyup Bank as the first treasury and iM Bank as the second treasury.
Accordingly, the two banks will manage North Gyeongsang Province's funds worth approximately 15 trillion won for four years, from next year until December 31, 2030.
Currently, North Gyeongsang Province holds two treasuries worth approximately 15 trillion won. The first treasury, which manages the province's general account and various funds, is managed by Nonghyup Bank, while the second treasury, which manages other special accounts, is managed by iM Bank. The North Gyeongsang Province treasury has been jointly managed by Nonghyup Bank and iM Bank since 1997.
In this selection process, not only the existing treasury operators, Nonghyup Bank and iM Bank, but also KB Kookmin Bank entered the competition by submitting a proposal. As a result of the evaluation, KB Kookmin Bank ranked third, maintaining the existing first- and second-treasury system.

[email protected] Lee Hyun-jung Reporter