NongHyup Financial opens industry hub in southeast Korea

NongHyup Financial Group said Tuesday it opened an integrated support center for the marine, aviation and defense industries in Changwon to strengthen support in the southeastern region spanning Busan, Ulsan and South Gyeongsang Province.

The center, launched Monday, aligns with the government’s "5 Poles, 3 Special Zones" regional development strategy. It will establish a collaborative system among affiliates — including banking, non-life insurance, securities and capital — to provide comprehensive financial services.

The group aims to deliver one-stop financial services by integrating the capabilities of its affiliates. Specifically, banking units will handle corporate lending and foreign exchange services while non-life insurance units will provide marine and cargo insurance. Securities units will support corporate bond issuance, IPOs and investment banking services, while capital units will offer corporate financing solutions.

NongHyup Financial said it plans to develop tailored financial support models for each region under the initiative, leveraging its extensive nationwide network.

The group operates more than 1,200 offices across the country, with over 60 percent located outside the Seoul metropolitan area, positioning it as a regionally focused financial institution.

Lee Chan-woo, chairman of NongHyup Financial Group, said the center will serve as a comprehensive financial platform that brings together the group’s expertise to provide optimized solutions for key industries in the southeastern region.