The National Agricultural Cooperative Federation, or Nonghyup, tapped Shin Choong-shik, former senior vice president of the organization, to be chairman of the NH Financial Group that will launch on March 2.

Nonghyup’s ad hoc committee on personnel management said on Friday that it had decided to recommend Shin to head the financial group and its affiliate Nonghyup Bank.

The new financial group will be established as a result of separating Nonghyup’s business operations into two ― the financial and farm products marketing sectors.

(kys@heraldcorp.com)