NongHyup Bank Achieves 1 Trillion KRW in 'NH Agricultural Food Green Growth Loan' Lending

[Asia Economy Reporter Kiho Sung] NH Nonghyup Bank announced on the 14th that the balance of NH Agricultural Food Green Growth Loan, which supports excellent agri-food companies practicing ESG (Environmental, Social, and Governance), surpassed 1 trillion KRW just seven months after its launch.

The bank explained that as a representative loan product supporting eco-friendly and socially responsible agriculture and agri-food companies, word of mouth has spread, accelerating the pace of loan growth. Most of the loans are provided to small and medium-sized enterprises, farmers, and individual business owners, with an average loan amount of 200 to 300 million KRW.

NH Nonghyup Bank has supported the growth of eco-friendly agri-food companies, renewable energy-utilizing companies, and smart farm households by providing over 2 trillion KRW annually to agri-food companies even before the term ESG was widely used. Through agri-food company consulting and agricultural finance consulting, the bank has continuously taken the lead in expanding ESG in the agriculture and agri-food sectors by offering customized management solutions for companies.

Based on the support achievements of NH Agricultural Food Green Growth Loan and others, as of June, the total balance of agri-food company loans exceeded 26.5 trillion KRW.

President Junhak Kwon of NH Nonghyup Bank stated, “We will do our best to support farmers and enhance the value of the agricultural industry with a sense of mission that supporting agriculture and agri-food companies is practicing ESG, and in response to the government’s Green New Deal project.”