NongHyup Financial Group to launch its third 'NH Financial Hub' in the southwest

[Financial News] NH Financial Group plans to launch a “Southwest NH Financial Hub” to support the development of strategic industries in Jeonnam-Gwangju Integrated Special City. It aims to provide comprehensive financial support focused on future growth industries such as AI and semiconductors, renewable energy, and mobility.
According to financial industry sources on the 7th, NH Financial Group has selected Jeonnam-Gwangju Integrated Special City in the southwest as its third themed region, following the southeast and North Jeolla Province, in line with the government’s “5 Mega-Regions, 3 Special Regions” policy for balanced national growth.
First, NongHyup Financial Group will establish a tentatively named “NH Financial Hub” in the fourth quarter to strengthen support for the southwest’s growth engines. It plans to step up locally focused financial support by leveraging its existing network of around 100 offices and approximately 1,100 employees across South Jeolla and Gwangju.
The NH Financial Hub will build a comprehensive financial-services support system linked to key strategic industries, tailored to the characteristics of the areas where its three offices are located—in Gwangju, Muan, and Suncheon. Through its banking, life insurance, general insurance, securities, and capital businesses, NongHyup Financial Group operates 70 offices in South Jeolla and 37 in Gwangju, with 709 and 429 employees, respectively.
The sectors eligible for support are the southwest’s strategic industries: AI and semiconductors, renewable energy, mobility, and biotechnology. The group’s key affiliates—including banking, insurance, securities, asset management, and capital—will work together to provide financial support.
The bank will expand corporate financing support through special contributions totaling 5 billion won, among other measures, to guarantee institutions in South Jeolla and Gwangju. The general insurance business will expand its commercial insurance offerings, while the securities and venture capital (VC) businesses will support advanced industries and invest in innovative companies. The capital business plans to provide corporate loans and industrial equipment financing, among other support.
NongHyup Financial Group will also actively consider participating in investments in renewable energy projects, including the Shinan offshore wind power project, and in regional development infrastructure. It also plans to help nurture local talent through donations and financial education.
NongHyup Financial Group Chairman Lee Chan-woo emphasized, “The southwest is a key pillar that will lead future high-tech industries. By bringing together the capabilities of our affiliates through the NH Financial Hub, we will be a steadfast partner in helping Jeonnam-Gwangju Integrated Special City, which officially launched last July, develop into a world-class megacity.”
[email protected] Seo Ji-yoon Reporter