NH Nonghyup Bank is taking advantage of the bank’s specificity to globalize K-food. NH Nonghyup Bank..

NH Nonghyup Bank is taking advantage of the bank’s specificity to globalize K-food. NH Nonghyup Bank announced on the 7th that it signed a ‘Food Tech Corporate Financial Support Business Agreement for the Global Spread of K-food’ with the Korea Food Industry Association and the Korea Technology Guarantee Fund.

This agreement is designed to enhance the competitiveness of the K-food industry, which is growing in the global market, and to support the stable financing and growth of food tech companies with excellent technology. The government is also fostering food tech as a future growth industry through the Ministry of Agriculture, Food and Rural Affairs’ “Basic Plan for Fostering the First Food Tech Industry.”

Under the agreement, the Korea Food Industry Association discovers food tech companies with high growth potential and recommends them to Nonghyup Bank. Nonghyup Bank recommends companies eligible for financial support to the Korea Technology Guarantee Fund, which provides technical guarantees to those companies. Nonghyup Bank will provide these companies with customized financial services and financial support.

The three organizations plan to increase the competitiveness of food tech companies and actively support them in the global market by establishing a support system that links finance and guarantees.

“K-food is positioned as a future growth industry representing Korea,” said Eom Eul-yong, vice president of NH Nonghyup Bank’s corporate finance division. “We will continue to expand financial support and cooperation so that excellent food tech companies can grow stably and leap into the global market.”