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Finance

Capital region concentration, real estate bias spur calls for urgent medium- to long-term structural shift at savings banks

As financial authorities move to revamp savings banks with a focus on expanding productive finance, a report says the industry needs an urgent medium- to long-term shift away from a real estate-focused business model and concentration in the Seoul metropolitan area. The Korea Institute of Finance cited regional imbalances and high exposure to real estate and construction lending. It called for improved forward-looking credit assessment and measures to broaden lending and customer bases.

Finance

NH Nonghyup Financial to run marine, aviation industry support center in southeast

NH Nonghyup Financial Group said on March 16 it will push to establish a comprehensive support center for the marine and aviation industries in South Korea\'s southeast region, in line with the government\'s \"five poles, three special\" balanced growth policy. The center will be set up in Changwon in April as a group-wide base for financial support. The group plans affiliate cooperation to provide integrated services and support 5 trillion won over five years.