NH NongHyup Financial to open financial hub in South Jeolla, Gwangju to support AI, semiconductor industries

NH NongHyup Financial Group will establish a new financial base to support strategic industries in South Jeolla Province and Gwangju, including AI, semiconductors and renewable energy.

The group announced Wednesday that it plans to launch the "Southwest NH Financial Hub" in the fourth quarter of this year, with group affiliates joining forces to provide comprehensive financial support to the region.

The hub is a region-specific financial support initiative aligned with the government's "Five Poles, Three Specials" national balanced-growth policy. It will be the third such regional support base, following a maritime, aviation and defense industry support center that opened in Changwon, South Gyeongsang Province, in April, and an NH Financial Hub that opened in Jeonju, North Jeolla Province, last month.

NH NongHyup Financial plans to draw on its existing network of more than 100 offices and approximately 1,100 employees across South Jeolla Province and Gwangju. Affiliates including the bank, life insurance, non-life insurance, securities and capital units run 70 offices in South Jeolla Province and 37 in Gwangju, with 709 and 429 staff members, respectively.

Target industries include AI, semiconductors, renewable energy, mobility and biotech — the key strategic sectors of the southwest region. The group will build a support framework linking corporate finance, investment and insurance, tailored to the industrial characteristics of each area, including Gwangju, Muan and Suncheon.

Affiliates will each take on distinct roles. NH NongHyup Bank will expand corporate finance, including a special contribution of 5 billion won ($3.72 million) to credit guarantee institutions in South Jeolla Province and Gwangju. NH NongHyup Non-Life Insurance will expand commercial insurance offerings, while the securities firm and venture capital unit will handle investment in advanced industries and innovative companies. The capital affiliate will provide corporate lending and industrial equipment financing.

The group will also broaden its support to cover renewable energy and regional infrastructure. NH NongHyup Financial is reviewing participation in renewable energy projects in the region — including an offshore wind power development in Sinan — as well as regional development infrastructure investment. It also plans to nurture local talent through donations and financial education programs.

"The southwest region is a key pillar that will lead future advanced industries," NH NongHyup Financial Chairman Lee Chan-woo said. "Through the NH Financial Hub, we will pool the capabilities of our affiliates to become a steadfast partner in helping the Jeonnam-Gwangju Integrated Special City, which officially launched last July, grow into a world-class megacity."

As of the end of last year, NH NongHyup Financial operated more than 1,200 offices nationwide, with non-Greater Seoul locations accounting for 61.2 percent of the total. Following the southeast, North Jeolla and southwest hubs, the group said it will review additional regional financial support bases in line with the government's "Five Poles, Three Specials" framework, reflecting the industrial characteristics of each area.

Meanwhile, NH NongHyup Financial is also working to enhance customer service convenience alongside its regional industry support efforts. NH NongHyup Bank announced Wednesday that it had obtained a business model patent covering the device and method behind its "My Asset Safety Alert Service," which regularly notifies customers of changes in assets held across multiple financial institutions via text message and KakaoTalk alerts.