[THE INVESTOR] South Korea’s National Agricultural Cooperative Federation, or NongHyup, announced on Oct. 18 that it has signed a memorandum of understanding with French financial group Credit Agricole.
This is the second time they are renewing their agreement for a comprehensive partnership, first signed in 2005, to further strengthen cooperation in a range of areas from agriculture to insurance and investment management. They will also seek new ways to work together in agro-finance and provide financial services to French companies in South Korea.
Credit Agricole is the largest financial group in France, and the 11th largest in the world, with total assets of 1.66 trillion euros (US$1.83 trillion), and established joint venture NH-CA Asset Management with NACF in 2003.
By Hwang You-mee (glamazon@heraldcorp.com)