Nonghyup Bank |
Nonghyup (National Agricultural Cooperatives Federation or NACF) was founded in 1961 and provides supply, processing, marketing, and banking services through more than 4000 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. Many products at Nonghyup Hanaromart were processed in Nonghyup factories and bear the Nonghyup brand. According to its own figures, Nonghyup provides 48% 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 fouth in 2007 among global top 300 cooperative organizations, according to the International Cooperative Alliance. Among marking&supplies organizations, Nonghyup is ranked No.2 after Jaspan's JEN-NOH. Nonghyup bank, the banking division of NACF, offers commercial banking transactions for its member cooperatives, including KRW 108 trillion of loans outstanding at the end of 2007 as well as retail banking for consumers and individuals in South Korea, including KRW 102 trillion of loans. Nonghyup bank also provides insurance services. In 2008, Nonghyup purchased from ACX Pacific Northwest a straw processing plant located in Albany, Oregon. Key statistics
Head office address: Nonghyup Offices
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