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Finance

NH NongHyup Financial seeks to set up NH Smile Microfinance Foundation with 100 billion won

NH NongHyup Financial plans to establish the NH Smile Microfinance Foundation with 100 billion won funded jointly by major affiliates. The group said it held the first task force meeting on July 21 to review incorporation procedures and detailed plans. It aims to complete the foundation’s establishment within this year after consultations with relevant agencies. The foundation will add tailored products for farmers and young people returning to rural areas.

Finance

Capital markets also show economies of scale as big brokerages rush to boost capital

Competition among securities firms to bolster capital is spreading quickly, led by large brokerages, as more businesses link bigger capital bases to revenue growth. KB Securities decided on a 1 trillion won rights offering after earlier support from KB Financial Group. Similar moves include Korea Investment & Securities, Woori Investment & Securities and NH Investment & Securities, while Hanyang Securities also joined. The combined amount totals about 4.65 trillion won this year.

Finance

NH NongHyup Financial pushes to run \'NH Finance Hub\' in North Jeolla

NH NongHyup Financial Group plans to build a groupwide comprehensive financial support system for strategic industries in North Jeolla province. In line with the government\'s \"5 poles, 3 special zones\" balanced growth policy, it selected North Jeolla as its second theme region after the southeast. The group plans to launch an \"NH Finance Hub\" in the third quarter alongside opening an NH-Amundi Asset Management office in Jeonju to support agrifood, physical AI and renewable energy industries.