NH NongHyup Bank has met 67.6 percent of its annual target with its productive finance support performance. The bank plans to further strengthen execution.

The bank held its second productive finance steering committee meeting on May 28 to review results and discuss key plans for the second half, it said on May 29.

The meeting shared progress and future plans by major area, including advanced strategic industries, region-specific industries, technology finance, the National Growth Fund and venture capital (Equity) investment. It also discussed ways to secure future growth engines and collaboration strategies based on blue-ocean and purple-ocean ideas from each department.

In particular, the bank explained that its productive finance support stood at 8.54 trillion won as of May 22, achieving 67.6 percent of its annual target. By area, support for advanced strategic industries totaled 3.04 trillion won, while support for startups and venture companies reached 2.2 trillion won.

It plans to focus on expanding support for advanced strategic industries such as semiconductors, future mobility and artificial intelligence. It will also strengthen support for region-specific industries, upgrade technology finance processes and identify outstanding companies, expand investment in future growth industries such as the National Growth Fund, data centres and renewable energy, and step up venture capital and equity investment.

NH NongHyup Bank CEO Kang Tae-young (강태영) said the bank would continue to expand support for future growth industries and innovative companies based on its nationwide network and financial expertise.