National Agricultural Cooperative Federation chief bolsters global expansion efforts

National Agricultural Cooperative Federation (NACF) Chairman Kang Ho-dong, center, poses with the cooperative organization's key officials at NH NongHyup Bank’s London office in the U.K., Thursday. Courtesy of NACF

National Agricultural Cooperative Federation (NACF) Chairman Kang Ho-dong shared his strategic direction for global expansion with employees in Europe, the cooperative organization for farmers said Monday.

According to the NACF, also known as NongHyup, its three financial subsidiaries — NACF in France, NH NongHyup Bank London branch and NH Investment & Securities in London — reported their latest operations to the chairman during his visit to the bank’s London branch last Thursday.

“Kang visited NH NongHyup Bank’s office in London to encourage its employees there while discussing the company’s presence in the global market,” an NACF official said in a press release.

Opened in 2021, NH NongHyup Bank’s London office was the bank’s first overseas branch in Europe, marking a milestone for a major Korean bank entering the U.K. financial market, the official added.

“The NACF France needs to play a pivotal role in Korean agro-food’s successful advance into the European market,” Kang also said during his visit to the London office.

“The London offices should serve not only as the core of NongHyup financial services in Europe, but also as strategic outpost for NongHyup’s overall global expansion. It needs to establish a close relationship with Korean companies seeking to enter into the European market. They need money, and we can support them.”