Gyeongbuk Office of Education Signs Treasury Agreement with NongHyup Bank Gyeongbuk Headquarters... 6.5 Trillion Won Deposited Annually

The Gyeongbuk Office of Education (Superintendent Lim Jongsik) signed a treasury agreement with the Gyeongbuk Headquarters of NongHyup Bank on December 18 at the Gyeongbuk Office of Education conference room.

The signing ceremony was attended by Lim Jongsik, Superintendent of the Gyeongbuk Office of Education, as well as the Director of Administration, the Head of Finance, the Head of Gyeongbuk Business Headquarters at NongHyup Bank, and three other officials, making a total of seven participants. During the event, both parties reaffirmed their commitment to mutual cooperation in the operation of the treasury.

Jong-sik Lim, Superintendent of Gyeongbuk Office of Education (right), is signing a treasury agreement with Juwon Kim, Head of Gyeongbuk Headquarters at NongHyup Bank.

This agreement was signed as the existing treasury agreement is set to expire on December 31, 2025. Following an open competitive process, the Gyeongbuk Headquarters of NongHyup Bank was selected to handle the treasury operations of the Gyeongbuk Office of Education for four years, from 2026 to 2029.

Under the agreement, the Gyeongbuk Headquarters of NongHyup Bank will be responsible for managing the Special Account for Education Expenses, transferring and remitting revenue collections, and handling all other treasury-related work for the Gyeongbuk Office of Education over the next four years. The agreement specifies the scope of treasury operations, cost-sharing and fees, and the effective period, among other essential terms.

The Gyeongbuk Office of Education stated, "Next year, we will deposit a total of 6.5 trillion won in NongHyup Bank, combining a 6 trillion won budget and 500 billion won in education funds. The average daily balance maintained in the account will reach 500 billion won."

The signing ceremony proceeded with welcoming remarks from the Superintendent and the Head of Gyeongbuk Business Headquarters at NongHyup Bank, followed by the signing and exchange of the treasury agreement and a commemorative photo session.

Lee Kyunghyung, Head of Finance, said, "We will work closely with the treasury operating institution to ensure that the Special Account for Education Expenses is managed in a stable and efficient manner," and added, "We will do our utmost to enhance the transparency and reliability of educational finances."