NH Nonghyup Bank Launches Financial Support to Promote Retirement Pensions

Agreement with Korea Credit Guarantee Fund
Support for SMEs and Companies Diligently Paying Pension Contributions

NH Nonghyup Bank announced that, starting from November 27, it will provide financial support to small and medium-sized enterprises (SMEs) that have newly introduced retirement pension plans, as well as to companies that have diligently paid their retirement pension contributions, through an agreement with the Korea Credit Guarantee Fund.

This support measure continues the intent of the "Loan Support Agreement for the Promotion of Retirement Pensions," which was signed in May by the Ministry of Employment and Labor, the Korea Credit Guarantee Fund, and participating banks. It is an institutional support system designed to ease the initial burden for companies introducing retirement pension plans and to protect employees' rights to pension benefits.

In accordance with the agreement with the Korea Credit Guarantee Fund, NH Nonghyup Bank will offer reduced guarantee fees and preferential interest rates through special contributions and guarantee fee support. Through these measures, the bank aims to provide practical financial assistance to help SMEs that have adopted retirement pension plans reduce costs and operate the system stably.

A representative from NH Nonghyup Bank stated, "Retirement pensions are an important system that supports the financial stability of employees in their later years, and NH Nonghyup Bank continues to support the adoption and operation of retirement pension plans by SMEs as part of our social and public responsibilities. We will continue to create a financial environment in which both companies and employees can grow together."