NongHyup President Kang Hodong Attends Korea-Vietnam State Banquet: "Strengthening Bilateral Cooperation"

Kang Hodong, President of the National Agricultural Cooperative Federation, attended the 'Korea-Vietnam State Banquet' hosted by President Lee Jaemyung on August 11, strengthening the foundation for cooperation between the two countries. Sixty-six key figures from Korea were invited to the banquet, and President Kang participated as a representative of the domestic business and financial sectors.

An official from the National Agricultural Cooperative Federation explained, "President Kang's attendance reflects the close cooperative relationship and ongoing exchanges that the Federation has built with Vietnam over the past several years," adding, "The Federation has maintained substantial cooperation with Vietnam in a variety of fields, including finance, agricultural technology, and social contribution. This interconnectedness was highly valued even in official diplomatic settings with Vietnam's top officials."

Kang Hodong, President of the National Agricultural Cooperative Federation.

Since NH Investment & Securities opened its first office in Vietnam in 2009, the Federation has expanded its business into various fields, including finance, trade, agri-food distribution, and cooperative exchanges. Currently, a total of seven offices are operated by the Federation, NongHyup Bank, NH Investment & Securities, and NongHyup Trading. NongHyup Bank is working to establish a Ho Chi Minh City branch following its Hanoi branch, aiming to expand its business network. The Federation and its trading division are also reviewing ways to broaden the range of agri-food export items, thereby strengthening their presence in Vietnam.

In particular, the Federation has maintained a close cooperative relationship with the Vietnam Cooperative Alliance (VCA), which shares the same cooperative nature. Since signing a memorandum of understanding (MOU) in 2018, the two organizations have engaged in a wide range of exchanges, including training programs, delegation visits, agricultural technology cooperation, mutual distribution network linkage, and sharing of experience in finance and insurance. In 2023, an additional MOU was signed to further expand the scope of cooperation. Moreover, as the chair organization of the International Cooperative Agricultural Organization (ICAO), the Federation is working with the VCA to strengthen collaboration within the global cooperative network.

The Federation is also taking the lead in supporting multicultural families from Vietnam. Since 2007, it has provided annual support for visits to Vietnam for multicultural families across various regions in Korea, as well as rural settlement education programs. Locally in Vietnam, the Federation has promoted initiatives to improve living conditions, such as supporting the establishment of a startup support center at the Northern Economic and Technical University under the VCA in 2023, sharing know-how for agricultural development, and assisting in the recovery from Typhoon Yagi.

An official from the Federation stated, "Many Vietnamese government and party officials visiting Korea, including Do Van Chien, Chairman of the Vietnamese Fatherland Front, are also visiting the National Agricultural Cooperative Federation. With the visit of To Lam, General Secretary of the Communist Party of Vietnam, cooperation between the two countries is expected to be further strengthened, giving additional momentum not only to NongHyup Bank but also to the Federation's business operations in Vietnam."