NH Nonghyup Bank said Monday it held a strategy meeting at its Seoul headquarters, chaired by CEO Kang Tae-young, to step up venture capital investment in the agricultural and food sectors.
The bank said the meeting aimed to expand investment in early-stage agri-food startups, moving beyond traditional loan-based financing to align with Korea’s “productive finance” initiative.
During the meeting, participants agreed to better integrate investment, financial and nonfinancial support provided across departments, and to accelerate funding and support in line with each startup’s growth stages, from market entry to business expansion.
As the nation’s largest agricultural and food fund manager, NH Nonghyup Bank currently operates eight funds totaling 344.1 billion won ($234.8 million). It invests in companies enhancing agricultural productivity, including firms developing AI-powered sorting systems and livestock processing robots, and plans to increase its total fund size to more than 500 billion won within three years.
The bank also aims to establish a virtuous cycle of productive finance by linking its AgTech Youth Entrepreneurship Campus with the Agri and Food Tech Startup Rising Expo, now in its fourth year, encompassing all stages from startup discovery to growth support.
“Venture capital investment is essential to strengthening the competitiveness of Korean agriculture,” Kang said. “We will ensure that bold investments turn into tangible growth for the industry.”
andreahaneu@heraldcorp.com
