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Nonghyup Signs MOU with Vietnam’s VCA to Expand Agriculture Cooperation

Nonghyup Signs MOU with Vietnam’s VCA to Expand Agriculture Cooperation

SEOUL, March 26 (Korea Bizwire) — Nonghyup said Monday it has signed a memorandum of understanding (MOU) with its Vietnamese counterpart to increase agricultural products trade and the expansion of Nonghyup’s financial services in the Southeast Asian country. Nonghyup is South Korea’s agricultural cooperative whose key stakeholders include farms and other agricultural businesses. In addition [...]

Loan Guarantees Among Conglomerate Affiliates Shrink in 2017

Loan Guarantees Among Conglomerate Affiliates Shrink in 2017

SEJONG, Dec. 28 (Korea Bizwire) – Loan guarantees among affiliates of South Korea’s large business groups sank in 2017 from a year earlier, the country’s corporate watchdog said Thursday. The total corporate debt payment guarantees made among units of 31 conglomerates reached 257 billion won (US$239 million) as of May 1, down 20 percent, or [...]

Nonghyup to Sell Korean Pork, Beef from Vending Machine

Nonghyup to Sell Korean Pork, Beef from Vending Machine

SEOUL, Nov. 17 (Korea Bizwire) — A South Korean agricultural cooperative is pushing to introduce a vending machine selling livestock products, such as pork and beef, targeting the increasing number of single-person households in the country, industry sources said Friday. The National Agricultural Cooperative Federation, known as Nonghyup here, will first showcase the dispenser at [...]

Food Firms Diversify Business amid Slump

Food Firms Diversify Business amid Slump

SEOUL, Oct. 19 (Korea Bizwire) – Major South Korean food and beverage companies are diversifying their business portfolios as they are reeling from a drawn-out slump, industry officials said Wednesday.  The country’s biggest confectionery Orion Corp. said it has joined with the National Agricultural Cooperative Federation (Nonghyup) to venture into the food market. Under the [...]

Nonghyup Financial Eyes Indonesian, Myanmar Banks

Nonghyup Financial Eyes Indonesian, Myanmar Banks

SEOUL, Aug. 3 (Korea Bizwire) — Nonghyup Financial Group Inc., South Korea’s fourth-largest banking group by assets, is considering buying banks in Indonesia and Myanmar in a bid to expand its overseas business and diversify its portfolio, the group’s chairman said Monday. Nonghyup Financial is the biggest state-run agricultural cooperative whose stakeholders include farms and [...]

“App Card” Takes Ground by Illicit Transactions

“App Card” Takes Ground by Illicit Transactions

SEOUL, May 16 (Korea Bizwire) – The “app card,” which has been  touted as a new-generation mobile transaction system, has taken a hit from illicit transactions. In the meantime, Fraud Detection System (FDS) has proven its values once again. Samsung Card reported to the police and financial authorities on May 11 about some 300 cases of illegal [...]