NongHyup Financial Takes Action on Biodiversity Conservation and Seed Sovereignty Issues

Business Agreement with NH Nongwoo Bio and National Honam Biological Resource Center
Seed Industry Research, Proposing Research Directions for Biological Resources, and More

NongHyup Financial Group announced that on August 1, it signed a three-party memorandum of understanding (MOU) with NH Nongwoo Bio and the National Honam Biological Resource Center at the National Honam Biological Resource Center in Mokpo, Jeollanam-do, for the conservation of biodiversity and the advancement of the seed industry.

This agreement was promoted to expand NongHyup Financial's implementation of Environmental, Social, and Governance (ESG) management, and to respond to the national biodiversity crisis and seed sovereignty issues caused by climate change. Through this agreement, the three organizations plan to pursue practical collaboration focusing on research for a domestic seed industry biological database, proposing research directions on biological resources from an industrial perspective and sharing technological needs, developing and supporting related financial products, and conducting joint promotional and educational activities.

NongHyup Financial aims to present a new ESG model that connects finance, agriculture, and biodiversity. The group also plans to enhance its status as a financial institution by joining the Taskforce on Nature-related Financial Disclosures (TNFD) and implementing its recommendations, thereby participating responsibly in addressing nationally significant social agendas.

Cho Jungrae, Vice President of Future Growth at NongHyup Financial Group, stated, "This agreement is a practical step toward protecting and advancing biodiversity and the seed industry, which are core national assets," and added, "As a partner responsible for the lives and food of the people, NongHyup Financial will take the lead in sustainable growth for Korean agriculture, rural communities, and the nation as a whole."

Jung Rae Cho, Vice President of Future Growth Division at NongHyup Financial Group (first from the right), Jin Young Park, Director of the National Honam Biological Resources Center (second from the right), and Hyun Goo Yang, CEO of NH Nongwoo Bio (third from the right), are taking a commemorative photo after signing a business agreement. NongHyup Financial Group