NongHyup Financial Group

What NongHyup Financial Group does

NongHyup Financial Group (NH농협금융지주, KOSPI: NH) is a publicly listed Korean financial holding company, wholly owned by the National Agricultural Cooperative Federation (NACF/농협중앙회) and established in its current form in March 2012 on a cooperative foundation dating to 1961. The group operates nine regulated subsidiaries spanning the full retail and commercial financial-services stack: NH Nonghyup Bank (1,200+ offices, flagship deposit-taking and agricultural-finance franchise), NH Nonghyup Life Insurance and NH Nonghyup Non-Life Insurance (property and casualty incl. agricultural and auto lines), NH Investment & Securities (57.54% owned, with overseas operations in Vietnam and London), NH-Amundi Asset Management (60/40 joint venture with Amundi, KRW 60 trillion AUM), NH Nonghyup Capital, NH Savings Bank, NH Nonghyup REIT Management (KRW 1.7 trillion AUM), and NH Venture Investment.

The group's underlying technology layer centers on the NH All-One Bank digital platform (10M+ subscribers), NH Smart Banking, NH Pay (5M members), NH All-One Account, the BM-patented NH-OnePASS auto-login, the NH IDEA Ground digital innovation campus, and a metaverse branch ("Dokdo Bus"). Proprietary AI capabilities include an AI-based Fraud Detection System, the Koribot NLP chatbot, biometric boarding authentication (computer vision, financial-industry first), the patented Automated Loan Extension AI Consultation System, and alternative credit-scoring models using non-financial data (delivery and budget mobile-app signals). A P2P financial certificate blockchain service was first-in-industry in 2022. Distribution operates primarily through the 1,200+ branch network, the cooperative channel reaching 2.1 million members, and the digital platforms; an MOU with Mayapada Group (May 2026) adds channel-partner GTM into Indonesia, while the Win-Win Growth Project commits the group to KRW 108 trillion in productive and inclusive finance through 2030.

The business model combines spread-based banking income, recurring insurance premiums, securities trading and IB fees, asset-management fees on KRW 60 trillion AUM, captive-finance interest income, savings-bank deposit spreads, and venture-investment carried interest across at least 11 fund vintages. Pricing is not publicly disclosed at the product level and varies by credit profile and segment; the group explicitly segments customers by persona (2030 youth, vulnerable populations), vertical (agriculture, ESG/eco-friendly businesses), and business-unit (SMEs and corporates). Beyond the legacy cooperative franchise, near-term revenue diversification comes from the NH All Wonderful senior brand (launched November 2025), the Indonesia entry, and the inclusive-finance product set launched February 2026. Source anchors:.

Name

NongHyup Financial Group

Legal name

NongHyup Financial Group Inc. (농협금융지주 주식회사)

Website

https://nhfngroup.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

101–250 employees

Short description

South Korea's agricultural cooperative-based financial holding company, operating nine subsidiaries across banking, insurance, securities, asset management, captive finance, and venture capital, serving 2.1 million cooperative members and 10 million digital banking subscribers via 1,200+ offices.

Ownership category

akta.pro rank

Product category

Financial Holding Company (Retail and Commercial Banking, Insurance, Securities)

NAICS

Offices of Bank Holding Companies (551111), Direct Life, Health, and Medical Insurance Carriers (52411), Portfolio Management and Investment Advice (523940)

SIC

State Commercial Banks (6022), Life Insurance (6311), Finance Services (6199), Finance Lessors (6172)

akta.pro primary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

akta.pro secondary industry

Direct Lending — Specialty Finance (Consumer/SME Lending Platforms) (FSAHAJAF)

Keywords

• Commercial banking services
• Life insurance products
• Investment securities brokerage
• Asset management services
• Agricultural cooperative finance

Headquarters

HQ city

Okdong

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Banking Services: Commercial banking through NH Nonghyup Bank with nationwide network of 1,200+ offices, serving retail customers, farmers, and corporate clients with deposits, loans, and financial services
2. Life Insurance: Life insurance services through NH Nonghyup Life Insurance (NH농협생명) established in 2012, providing coverage and financial protection products
3. Non-Life Insurance: Property and casualty insurance through NH Nonghyup Non-Life Insurance (NH농협손해보험), including agricultural insurance, auto insurance, and travel insurance
4. Securities and Investment: Investment banking and brokerage services through NH Investment & Securities (NH투자증권) with 57.54% ownership, offering wealth management, trading, and investment services
5. Asset Management: Asset management through NH-Amundi Asset Management (60% owned joint venture with Amundi) with 60 trillion won in assets under management, offering funds and investment products
6. Capital/Leasing: Leasing and credit services through NH Nonghyup Capital (NH농협캐피탈) offering auto finance, mortgage loans, personal credit loans, corporate finance, and new technology financing
7. Savings Bank: Savings bank services through NH Savings Bank (NH저축은행) providing deposits and loans for general public and small business owners
8. REIT Management: Real estate investment trust management through NH Nonghyup REIT Operations (NH농협리츠운용) managing 1 trillion 700 billion won in AUM
9. Venture Investment: Venture capital investment through NH Venture Investment (NH벤처투자) focusing on new technology business financing, managing multiple funds including ASEAN technology funds

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

NongHyup Financial Group is a Korean financial holding company operating nine subsidiaries that deliver banking, life and non-life insurance, investment banking and brokerage, asset management, captive finance, savings banking, REIT management, and venture capital services. The group primarily serves retail customers, farmers, and cooperative members through a nationwide branch network spanning over 1,200 offices, alongside corporate and institutional clients via its securities, asset management, and capital subsidiaries.

Product overview

NongHyup Financial Group is a financial holding company operating nine wholly or majority-owned subsidiaries spanning banking (NH Nonghyup Bank), life insurance (NH Nonghyup Life Insurance), non-life insurance (NH Nonghyup Non-Life Insurance), securities and investment banking (NH Investment & Securities), asset management (NH-Amundi Asset Management), captive finance (NH Nonghyup Capital), savings banking (NH Savings Bank), REIT management (NH Nonghyup REIT Management), and venture capital (NH Venture Investment). The group delivers its products and services primarily through digital platforms including NH All-One Bank (comprehensive financial platform), NH Smart Banking (mobile app), NH Pay (payment service), NH All-One Account (wealth management), NH All-One Pass (authentication), and NH IDEA Ground (innovation hub), alongside the senior-focused NH All Wonderful brand and NH Win-Win Growth Project for inclusive finance. The group also operates NH Chaeum Card credit cards, NH All-One Voucher Platform, and NH Direct Indexing and TAX Platform through its securities subsidiary.

Differentiator

Problem solved

Functional benefit

Brands

• NH 올원더풀 (NH All Wonderful): Senior-specialized brand launched in November 2025 providing financial asset management and health care services for seniors.
• 금융의 모든 순간 (Every Moment of Finance)
• NH Win-Win Growth Project (NH 상생성장 프로젝트)

Products and services

• NH Nonghyup Bank (NH농협은행) Flagship subsidiary of NongHyup Financial Group operating a nationwide branch network of approximately 1,200 offices; offers retail and corporate banking, agricultural finance, inclusive finance, mortgage loans, and digital banking services to retail customers, farmers, and corporate clients.
• NH Nonghyup Life Insurance (NH농협생명) Wholly-owned cooperative-based life insurer offering life insurance coverage, savings products, online insurance platforms, and AI-powered customer service including the Koribot chatbot.
• NH Nonghyup Non-Life Insurance (NH농협손해보험) Wholly-owned non-life insurer offering property and casualty insurance including automobile, residential, agricultural, and travel insurance products, with exclusive-rights offerings in selected segments.
• NH Investment & Securities (NH투자증권) Majority-owned (57.54%) brokerage and investment banking subsidiary offering brokerage, investment banking, wealth management, digital trading platforms, and direct indexing services with overseas operations in Vietnam and London.
• NH-Amundi Asset Management (NH-Amundi자산운용) Majority-owned (60%) joint venture asset manager with Amundi (France); manages approximately KRW 60 trillion in assets including ETFs, ESG funds, alternative investments, and global investment products.
• NH Nonghyup Capital (NH농협캐피탈) Wholly-owned captive finance subsidiary offering auto finance, lease financing, home mortgage loans, personal credit loans, corporate finance, real estate finance, and new technology financing.
• NH Savings Bank (NH저축은행) Wholly-owned savings bank providing deposit, loan, and savings banking services primarily for general citizens and small business owners, emphasizing inclusive and warm finance.
• NH Nonghyup REITS Management (NH농협리츠운용) Wholly-owned real estate investment trust management company managing approximately KRW 1.7 trillion in AUM across office, retail, and other REIT products.
• NH Venture Investment (NH벤처투자) Wholly-owned venture capital subsidiary investing in startups and venture companies across multiple funds including the NH-OC Global Open Innovation Fund and ASEAN technology funds.
• NH All-One Bank (NH올원뱅크) Comprehensive digital financial platform of NH Nonghyup Bank consolidating banking, securities, insurance, and wealth management in one interface; renewed in 2022 and relaunched as NEW NH All-One Bank in 2023, reaching 10 million subscribers.
• 2030 Youth Hug Dream Loan (2030 청년 Hug 드림론) Inclusive finance loan product targeting customers aged 20-34 for housing and financial stability needs; part of the NH Win-Win Growth Project's three-type inclusive finance set.
• NH All Wonderful (NH올원더풀) Senior-specialized financial brand providing financial asset management, health care, and lifestyle services tailored for senior customers.
• NH Chaeum Card (NH채움카드) Proprietary credit card brand of NH Nonghyup Bank offering various card benefits and financial services to consumers.

Quantifiable outcome

• 108 trillion won in productive and inclusive finance to be supplied by 2030
• +4 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability10 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Financial Services Commission and Major Financial Holding CompaniescoreStrategic or Co-development Partner · 10 June 2026Vice Chairman Lee Eogwon of FSC held roundtable with chairmen of five major financial holding companies including NH Nonghyup Financial to discuss AI security response strategies. Financial holding companies reported introduction of AI-based security monitoring, penetration testing solutions, and AI-based Fraud Detection Systems.
• Mayapada Group (Indonesia)coreStrategic or Co-development Partner · 21 May 2026NH NongHyup Financial Group signed strategic partnership with Mayapada Group in Jakarta to cooperate on digital transformation, risk management, investment banking, brokerage, and wealth management. The agreement enables NH NongHyup to leverage Mayapada's local networks as it explores potential market expansion in ASEAN's largest economy (Indonesia).
• Danantara (Indonesia Sovereign Wealth Fund)minorStrategic or Co-development Partner · 21 May 2026Following the Mayapada partnership signing, NH NongHyup's chairman met with Danantara, Indonesia's sovereign wealth fund, to discuss potential joint investments in climate tech funds. This represents potential future investment cooperation in sustainable technology sectors.
• Seoul Credit Guarantee FoundationcoreStrategic or Co-development PartnerNH Nonghyup Bank signed MOU with Seoul Credit Guarantee Foundation for AI big data exchange-based small business support activation. Partnership focuses on providing enhanced financial support for small merchants using AI and big data analysis.
• Korea Financial Services InstitutecoreStrategic or Co-development PartnerNH Nonghyup Financial Group launched 3-month intensive training program 'NH Nonghyup Financial Asset Management and IB Practical Competency Enhancement Course' at the Korea Financial Services Institute in Seoul, training 35 practitioners from major Nonghyup affiliates.
• National Agricultural Cooperative FederationcoreStrategic or Co-development PartnerParent organization providing agricultural cooperative network with 2.1 million members across 1,036 agricultural cooperatives and 68 commodity-specific cooperatives, forming the core foundation of NH Financial Group's unique business model.
• Amundi (France)coreStrategic or Co-development PartnerGlobal joint venture asset management company with Amundi (subsidiary of Credit Agricole Group). NH Financial Group holds 60% stake with Amundi holding 40%. Manages 60 trillion won in assets as of 2024, offering global investment products and ESG funds.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Woori Financial Group: Korean financial holding company with banking, insurance, securities, and asset management subsidiaries under similar cooperative-turned-public model. Most directly comparable in scale, subsidiary breadth, and Q1 2026 earnings benchmark (NH surpassed Woori at 868.8B vs 603.8B won).
• Hana Financial Group: Korean financial holding operating Hana Bank, Hana Securities, Hana Life Insurance, and Hana Capital. Similar diversified subsidiary model and one of the four major Korean financial holding companies competing head-to-head with NH across all major product lines.
• Meritz Financial Group: Korean financial holding anchored by Meritz Fire & Marine Insurance with Meritz Securities and Meritz Capital. Comparable holding structure focused on insurance-led model with growing securities and capital subsidiaries serving similar retail and SME customers.
• Rabobank: Dutch agricultural cooperative banking group and the global template for NH's agricultural cooperative model. Directly comparable as a member-owned financial institution focused on food, agriculture, and rural finance with international operations.
• Crédit Agricole Group: French cooperative banking group and parent of Amundi (NH-Amundi JV partner). Highly comparable cooperative-based holding structure with regional banks, insurance, asset management, and corporate banking — a direct institutional analog.

Broad incumbents

• Shinhan Financial Group: Largest Korean financial holding company with full-service banking, insurance, securities, and credit card operations. Comparable diversified platform but with much larger capital base and broader shareholder ownership, making it the dominant Korean benchmark.
• KB Financial Group: Korean financial holding with KB Kookmin Bank, KB Securities, KB Insurance, and KB Capital. Comparable full-service structure with stronger commercial bank franchise and similar rural/regional penetration through KB's historical provincial base.
• Mirae Asset Financial Group: Korean financial holding with strong global asset management (Mirae Asset Global Investments), securities, and venture investment. Comparable asset management scale (vs NH-Amundi 60T won) and similar venture investment subsidiary competing with NH Venture Investment.
• Mitsubishi UFJ Financial Group: Japanese financial holding combining commercial banking, trust banking, securities, and credit card businesses. Comparable diversified full-service model with similar emphasis on inclusive banking, trust services, and Asia-wide regional expansion ambitions.

Regional players

• BNK Financial Group: Regional Korean financial holding based in Busan with banking, securities, capital, and savings subsidiaries. Similar cooperative-of-companies structure but smaller scale, making it a useful comparison for NH's regional/rural strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments17 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NongHyup Financial Group