NH Financial Group said on the 1st that it has launched the NH Financial Hub, a financial base in Jeonbuk State. About 100 people attended the launch ceremony at NH Bank's Jeonbuk headquarters in Wansan District, Jeonju, including Jeonbuk State Governor Lee Won-taek, National Pension Service Chairman Kim Sung-joo, Jeonbuk Credit Guarantee Foundation Chairman Han Jong-kwan and NH Financial Group Chairman Lee Chan-woo, along with group executives and staff.
The hub was created to support the development of strategic industries in Jeonbuk State in line with the government's balanced national growth policy built around five regional economic poles and three special zones. Participating affiliates span banking, insurance, securities, asset management, capital and venture investment.
The group has set up a one-stop support system so companies can obtain the financial services they need in a single location. The bank handles corporate lending as well as investment and consulting for agrifood companies, while the life and property insurance units take on corporate insurance. The securities arm supports corporate finance, and the venture investment unit identifies and invests in innovative companies.
The hub was completed with the addition of NH-Amundi Asset Management, which opened a Jeonju office last month in Manseong-dong, Deokjin District, near the National Pension Service's fund management arm. Other affiliates, including the bank, life insurer, property insurer and securities firm, are housed together at NH Bank's Jeonbuk headquarters in Wansan District.
NH-Amundi Asset Management plans to further strengthen cooperation with the National Pension Service. The firm also signed a memorandum of understanding with Jeonbuk National University on industry-academia cooperation to help train local talent, pledging 100 million won in scholarships to nurture specialists in advanced strategic and convergence industries. It will also run financial education and youth internship programs.
Marking the hub's launch, NH Bank will make special contributions of 1.7 billion won to the Jeonbuk Credit Guarantee Foundation and 1 billion won to the Korea Technology Finance Corporation. The contributions are expected to increase funding for small and innovative companies in the region.
"We will bring together the specialized capabilities of our affiliates to provide financial solutions optimized for Jeonbuk's future strategic industries," Chairman Lee said. "We will listen to the voices of local young people and businesses and continue providing substantive support."
