NongHyup Bank has joined the Korea Small Business Bank Consortium to participate in the fourth internet-only bank competition.
NongHyup Bank held a board meeting on the 7th and agreed to join the small business bank consortium to expand into internet banking.
The small business bank is a consortium mainly composed of Korea Credit Data (KCD), aiming to be a specialized bank for small businesses. So far, Woori Bank, Woori Card, and Eugene Securities have expressed their intention to participate in the consortium.
Currently, IBK Industrial Bank is considering participation in U-Bank, while Shinhan Bank is reviewing participation in Deuzon Bank.
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