“Nonghyup is optimistic about the future and is committed to being the No. 1 financial and agricultural marketing leader in Korea.”

Nonghyup was borne out of the integration of the former agricultural cooperatives and the Agricultural Bank in 1961, when Korean rural communities were just beginning to modernize. Since then, Nonghyup has played a crucial role not only in improving the conditions of farmers economically, socially and culturally, but also in contributing to the balanced development of the Korean economy.

Over the past 46 years, Nonghyup has sown its reputation into the soil of rural Korea and, over those many years, it has shared moments of joy and sorrow with the nation's farmers. Nonghyup has witnessed great developments in the country's history as it led the way in extension services, marketing & supplies and banking & insurance.

Through these three areas, Nonghyup has provided real benefits for farmers and ensured stable access to farm supplies. It also advised farmers on agricultural and livestock marketing, eliminated usurious loans and ensured that farmers have a stable supply of agricultural capital.

Nonghyup has been leading a management revolution since 2004, namely the "New rural communities, New Nonghyup" campaign. Through this campaign, Nonghyup is strengthening its support for farmers. Simultaneously, the "I Love Farm" campaign is reinforcing the connection between urban and rural areas and is helping present hope and vitality to distressed agricultural and rural communities.

Now, Korea's agricultural and rural communities are facing a crisis on account of the acceleration of market opening through FTAs and the DDA. Nonghyup is, therefore, facing greater pressure for change as well.

In 2007, on the occasion of the 46th anniversary of its establishment, Nonghyup announced its new corporate identity and vision, as "Korea's number one agricultural marketing & financial group." With that logo, Nonghyup has begun to let the world know about how Nonghyup is a trustworthy cooperative organization that fulfills its social responsibilities.

In the future, Nonghyup will continue to take the lead in making Korea a great nation where people and nature, as well as urban and rural communities, join in harmony, based on the trust and pride our customers and the public at large have come to expect from us.

Chairman, NACF
CHOI, Won-Byung