NongHyup Bank (NH Bank), founded in March 2012, is a subsidiary of NongHyup Financial Group Inc, which, in turn, is wholly owned by NACF (National Agricultural Cooperative Federation). The Bank has about 1,200 branches and offers commercial banking services for its member cooperatives as well as retail banking for consumers in South Korea. In 2013, "Asian Banker" selected NongHyup Bank as the Best Credit Risk Management Bank. With total assets of KRW 207 trillion (US$204.3 billion) as of June 2014, NHB is the fourth-largest commercial lender in Korea.
National Agricultural Cooperative Federation or NACF is an umbrella organization for Korean agricultural cooperatives. The 1,155 primary member cooperatives represent over 2.35 million member farmers in Korea. NACF was founded in 1961 and provides supply, processing, marketing, and banking services through more than 4,000 branches. The company works in most agricultural sectors, but specializes in beef, pork and poultry products. Nonghyup operates a number of retail grocery stores called "Nonghyup Hanaromart" that sell fresh produce, fruit, beef, pork, and other food products. According to its own figures, Nonghyup provides about 50% of rural food marketing in South Korea. Nonghyup is the sister organization to Su-hyeop (the National Federation of Fisheries Cooperatives), a similar cooperative federation. Nonghyup was ranked fourth among the 300 largest cooperative organizations in the world. Among marking & supplies organizations, Nonghyup is ranked No.2 after Jaspan's JEN-NOH.
In March 2012, NACF separated operations for its NongHyup Financial and NongHyup Agri-business sectors, and NongHyup Financial Group (NHFG) and NongHyup Agribusiness Group were established. In April 2014, NongHyup Financial Group completed acquisition of the brokerage units of Woori Financial Group. By acquiring Woori Investment & Securities, Woori Aviva Life Insurance and Woori Financial Savings Bank, NHFG has become the fourth-largest player in industry. The Group offers deposits products, loans, mortgages, life, property, and casualty insurance, asset management and more. As of December 31, 2014, the NongHyup Financial Group had total assets of 315.7 trillion won (US$288.2 billion).
NongHyup Financial Group subsidiaries:
Nonghyup Life Insurance Co., Ltd
Nonghyup Property & Casualty Insurance Co., Ltd
NH-CA Asset Management Co., Ltd
NH Nonghyup Investment & Securities Co., Ltd.
NH Nonghyup Investment & Futures Co., Ltd.
NH Capital Co., Ltd.
NongHyup Financial Group Inc
16, Saemunan-ro, Jung-gu
Phone: 82 2 2080 5114, 7114
16, Saemunan-ro, Jung-gu
Seoul 100-707, Korea
Phone number: +82-2-2080-6121
Nonghyup Bank address:
120, Tongil-ro, Jung-gu
Seoul, 100-151, Korea
|United States||New York Representative Office (Banking Office)
650 Fifth Avenue, New York, NY10019, U.S.A
USA Representative Office (Non-Banking Office)
17785 Center Court Drive Suite #360 Cerritos, CA 90703
|Japan||Japan Representative Office (Non-Banking Office)
Minamishinjuku Bldg. 8th floor 2-10-12 Yoyogi Shibuya-Ku, Tokyo, Japan
|China||China Representative Office (Non-Banking Office)
Jia No.50-1, Wangjing Xilu Chaoyang District, Beijing China Unit 602, Quanshitiandi Tower A