NH NongHyup Bank said on the 9th that it signed a "strategic business agreement (MOU)" with Korea Rural Community Corporation (KRC) to exchange farmland listing data and develop new farmland-related services. The agreement was pursued as part of efforts to go beyond finance's essential role to jointly solve problems in rural areas and contribute to realizing social value, such as supporting people returning to farming and settling into farming.
Through the agreement, the two institutions plan to share farmland listing information and provide integrated private and public data through each other's platforms, while cooperating to improve access to farmland listings for returnees to farming and people engaged in farming and to support stable settlement in rural areas.
Through this agreement, data will be linked between NongHyup Bank's land and farmland information service "Land of Tomorrow" and Korea Rural Community Corporation (KRC)'s "Farmland Bank," expanding offerings beyond existing individual farmland listings to include farmland lease listings held by Korea Rural Community Corporation (KRC). This service is expected to be available within this year through NH All One Bank's "Land of Tomorrow."
Lee Yeong-u, deputy president in charge of investment products and asset management at NongHyup Bank, said, "This business agreement will be the first step for a public institution and a financial institution to share farmland listing data together and lead digital innovation in the rural field," adding, "NongHyup Bank will continue to expand practical financial support and customized services for people returning to farming and people engaged in farming."