NH Nonghyup Bank Gyeongnam Headquarters, Joining Efforts to Overcome Low Birthrate

Delivery of Support Funds for Maternity and Childbirth Supplies

NH Nonghyup Bank Gyeongnam Headquarters announced on the 5th that it has delivered 7 million KRW in support funds for childbirth supplies from the ‘Pregnant Women Preferential Savings’ to the Gyeongnam branch of the Korea Population, Health and Welfare Association to overcome low birth rates and promote a culture of consideration for pregnant women.

The Pregnant Women Preferential Savings (NH Gyeongnam Child Happiness Savings) is a product launched in October 2019 through a business agreement with Gyeongnam Province. It offers an additional preferential interest rate of 1.50% (0.75% each from Gyeongnam Province and Nonghyup) on top of the basic interest rate. Customers who subscribe with 100,000 KRW or more and mature the savings (with a final balance of 1.2 million KRW or more) receive childbirth supplies worth approximately 30,000 KRW upon maturity. Since the product’s launch, about 1,000 pregnant customers in Gyeongnam have subscribed.

NH Nonghyup Bank Gyeongnam Headquarters is taking a commemorative photo for the delivery of support funds for maternity and childbirth supplies. [Image provided by Gyeongnam Nonghyup]

Head of Headquarters Cho Cheong-rae said, “Last year, the total fertility rate dropped to a record low of 0.72, and the number of marriages decreased by 40% compared to 10 years ago, making South Korea’s low birth rate issue more serious than ever.” He added, “We will strive to carry out various social contribution projects to overcome the low birth rate issue together with Gyeongnam Province and the Population, Health and Welfare Association.”

NH Nonghyup Bank Gyeongnam Headquarters and the Gyeongnam branch of the Korea Population, Health and Welfare Association signed a business agreement in February 2022 to jointly promote the ‘Pregnant Women Preferential Savings’ and the ‘Pregnant Women Consideration Campaign,’ which they had been conducting separately to overcome low birth rates.

Nonghyup Bank is providing a total of 25 million KRW including this time, and the Korea Population, Health and Welfare Association is selecting and supporting childbirth supplies as well as promoting and providing various services related to pregnant women.