Cooperation in Financial Sector
The Nonghyup Financial Group announced on July 17 that it signed an MOU with Bank Mandiri. The Indonesian bank has a total asset of 94 trillion won along with 11 subsidiaries, 3,626 branches and approximately 39,000 employees.
The purpose of the MOU is close cooperation in the eight fields including corporate finance, trade finance and fintech and the establishment of a business coordination committee for new joint business opportunities.
At present, the Nonghyup Financial Group is giving concrete shape to its cooperation with Indonesian financial institutions in such fields as securities and lending. For example, NH Nonghyup Capital President Ko Tae-soon recently met with the top management of PT Mandiri Tunas Finance and is planning to have similar meetings with the other Indonesian lenders as well.
In Indonesia, the Nonghyup Financial Group is currently running NH Korindo Securities as a subsidiary of NH Investment & Securities. Recently, NH Korindo Securities launched the WINPro, a mobile trading system, in the country and the opening ceremony was attended by Indonesia Stock Exchange President Director Tito Sulistio. There, the Nonghyup Financial Group announced that it would enter the local IPO market this year by establishing an investment banking division and adding IPO experts to it.