NH Financial Group said Thursday its global operations posted a record 100 billion won ($71.6 million) in annual net profit for last year, as the South Korean financial giant vowed to step up overseas expansion despite rising global uncertainty.
Vice President Jo Jeong-rae, who leads the group’s future growth division, convened a global strategy meeting Wednesday to review quarterly performance and outline business targets for the year. Executives discussed strategies to navigate heightened market volatility and geopolitical risks, particularly those stemming from policy shifts under the administration of US President Donald Trump.
Jo stressed that NH Financial, a relative latecomer to global markets among Korean banking groups, cannot rely solely on a "fast-follower" model and must instead chart its own course.
“We must strengthen our internal risk control systems proactively while swiftly pursuing new business and investment opportunities to solidify our position in the global financial landscape,” Jo said.
Established in 2012, NH Financial Group was a late entrant to overseas markets among Korea’s major financial holding companies, with its flagship NongHyup Bank launching its first international branch in New York in 2013, followed by expansions into other parts of Asia.
The group is now accelerating its global push. NongHyup Bank is preparing to open new branches in London, Singapore and Ho Chi Minh City, Vietnam, while NH Investment & Securities is gearing up to formally enter the Indian market.
jwc@heraldcorp.com
