NH NongHyup Financial Group said on April 14 it opened the NongHyup Financial marine, aviation and defense integrated support center in Changwon, South Gyeongsang, to strengthen support for the southeast region of Busan, Ulsan and South Gyeongsang in line with the government’s “5-pole, 3-special” balanced growth policy.

About 50 people attended an event held on April 13, including Lee Chan-woo (이찬우), chairman of NH NongHyup Financial Group, and Kang Tae-young (강태영), head of NongHyup Bank, as well as Lee Sang-yeon (이상연), chairman of the Gyeongnam Employers Federation, and Lee Hyo-geun (이효근), chairman of the Gyeongnam Credit Guarantee Foundation.

NH NongHyup Financial plans to build an affiliate collaboration system at the center, including banking, non-life insurance, securities and capital units. It plans to provide comprehensive financial services and use the center as financial infrastructure to support the growth of related industries in the southeast region.

Specifically, the bank will handle corporate lending and foreign exchange, the non-life insurer will handle ship and cargo insurance, the securities unit will handle corporate bond issuance, IPO underwriting and corporate finance support, and the capital unit will handle corporate lending. It plans to provide one-stop financial solutions by combining affiliate capabilities. It plans to provide a total of 10 trillion won in support to the industries and region over the next five years.

Lee Chan-woo said the center would become comprehensive financial infrastructure that brings together the specialised capabilities of NH NongHyup Financial affiliates to provide financial solutions optimised for key industries in the southeast region.