NongHyup: The Last Bastion of Rural Financial Networks in South Korea

In South Korea, NongHyup (NH) Mutual Finance stands as a crucial financial lifeline for rural communities, actively preserving its extensive network while major commercial banks increasingly consolidate their operations in urban centers.

As commercial banks like Woori Bank, KB Kookmin Bank, Shinhan Bank, and Hana Bank prioritize efficiency and cost reduction, their branch presence in non-metropolitan areas has significantly declined. By the end of 2025, over 63% of their branches are expected to be in the Seoul metropolitan area. This trend exacerbates the digital divide and reduces financial accessibility for residents in rural and less developed regions.

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The NH financial infrastructure is not just a piece of financial equipment but an essential foundation for the lives of local residents.

NH Mutual Finance, however, operates on a different principle. With a strong emphasis on "inclusive finance," it prioritizes financial access and regional cooperation over pure profitability. The cooperative maintains a substantial network of 4,867 branches across the country, with only 25.4% located in the Seoul metropolitan area. This widespread presence ensures that even remote areas have access to banking services.

Furthermore, NH Mutual Finance operates a vast ATM network, boasting over 16,246 machines nationwide, more than three times the average number operated by major commercial banks. This extensive ATM coverage is vital for rural residents, especially the elderly and those less familiar with digital banking, who rely on these machines for essential financial transactions. The cooperative invests over 40 billion won annually to maintain and modernize its facilities, reinforcing its role as a stable financial pillar for the agricultural sector and local communities.

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NH Mutual Finance is fulfilling its role as a reliable partner for farmers and local communities. In line with the government's inclusive finance policy, we will focus our company-wide capabilities on resolving financial blind spots and creating a financial environment that coexists with local communities.