NH NongHyup Financial Group is pushing to establish a provisional “Southwestern NH Finance Hub” in the fourth quarter this year to support the development of strategic industries in the Jeonnam-Gwangju Integrated Special City. It plans to expand group-wide comprehensive financial support for key regional industries such as artificial intelligence (AI), semiconductors and renewable energy.

NH NongHyup Financial said on Tuesday it selected the southwestern region as its third financial support base, following the southeastern region and North Jeolla Province, in line with the government’s “5 poles and 3 special zones” balanced growth policy.

The Southwestern NH Finance Hub will provide financial services tailored to industrial characteristics by area, including Gwangju, Muan and Suncheon. NongHyup Financial plans to deliver locally focused financial support using its infrastructure of about 100 offices and about 1,100 employees in South Jeolla Province and Gwangju.

Key areas of support include AI and semiconductors, renewable energy, mobility and bio. NH NongHyup Bank plans to make a special contribution of a total of 5 billion won to guarantee institutions in the Jeonnam-Gwangju region to expand corporate finance support.

NH NongHyup Property & Casualty Insurance will expand corporate insurance, while its securities and venture capital (VC) units will support investment in advanced industries and innovative companies. Its capital unit will handle corporate lending and industrial finance.

It will also review participating in renewable energy projects such as the Sinan offshore wind power project, as well as investment in regional development infrastructure. It also plans to foster local talent through fundraising for donations and financial education.

Lee Chan-woo (이찬우), chairman of NH NongHyup Financial, said, “Through the NH Finance Hub, we will be a partner so that the Jeonnam-Gwangju Integrated Special City can leap into a global megacity.”