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NongHyup BankSouth Korea

Active

This profile is actively maintained
Last update: 2023-09-07 11:10:47
A branch of NongHyup Bank. Photo: 최광모 (Choe Kwangmo) via Wikimedia Commons (Public Domain CC0 1.0)

Active

This profile is actively maintained
Last update: 2023-09-07 11:10:47
About
Website https://banking.nonghyup.com
Headquarters
120, Tongil-ro, Jung-gu
04517 Seoul
South Korea
CEO/chair Kwon Jun-hak
CEO
Supervisor
Financial Supervisory Service (South Korea)
Ownership

NongHyup Bank is a 100% subsidiary of the NongHyup Financial Group. The National Agricultural Cooperative Federation (NACF) is the sole shareholder of NongHyup Financial Group.

NongHyup Bank (formerly National Agricultural Cooperative Federation) is a commercial bank in Seoul, South Korea. The bank was established in 2012 and offers personal banking, corporate banking, foreign exchange service, card service, and other financial services to private and corporate clients in South Korea and abroad.  NongHyup Bank is a part of the NongHyup Financial Group, which dates back to 1961 when the Agricultural Bank and Agricultural Federation merged.

Sustainability
Commitments
Policies
Voluntary standards

NongHyup Bank's most important sustainability commitments can be found at the website sections listed below.

Links

ESG Management

[Go to ESG Management]

NongHyup Bank does not have publicly available bank policies.

NongHyup Bank has committed itself to the following voluntary standards:
Carbon Disclosure ProjectTags: carbon | climate change | greenhouse gas emissions
Equator PrinciplesTags: Equator Principles | project finance | corporate social responsibility | sustainable development
Principles for Responsible Banking (PRB)Tags: climate change | corporate social responsibility | finance | sustainable development | United Nations | Voluntary Standards
Task Force on Climate-related Financial Disclosures (TCFD)Tags: corporate social responsibility | finance
UNEP Finance InitiativeTags: United Nations | sustainable development
United Nations Global CompactTags: United Nations | human rights
Campaigns

Banks and Climate

Partner organisation Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in their Coal Policy Tool (CPT) and the Oil and Gas Policy Tracker (OGPT). BankTrack works closely with Reclaim Finance and endorses their policy assessments. Find further details on their assessment of NongHyup Bank’s fossil fuel policy below.

Assessment of NongHyup Bank's coal policy in the Coal Policy Tool

Assessment of NongHyup Bank's policies in the Oil & Gas Policy Tracker

Banks and Human Rights

BankTrack assessed Nonghyup Bank in its 2022 Human Rights Benchmark Asia, where it achieved 0 points out of 14 and was ranked as a 'laggard'. More information is detailed in the "Accountability" section of this profile.

The BankTrack Human Rights Benchmark

Human Rights Benchmark Asia 2022

BankLast update
Country
Score
Ranking
Details
NongHyup Bank
KOR
0
Laggard
Explanation
Laggard
Follower
Front runner
Leader
0 - 3 points
3.5 - 6 points
6.5 - 9 points
9.5 - 14 points
For more details see this page.
News
Resources
Documents
Accountability
Grievances

NongHyup Bank does not have a complaints or grievances channel for individuals or communities that might have been affected by the bank's finance.

NongHyup Bank is an Equator Principles signatory. While the Equator Principles have no official grievance mechanism, complaints relating to this bank's financing of Equator Principles projects can be filed through our own website www.equator-complaints.org.

This page evaluates NongHyup Bank's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".

Impacts reviewed
Responded?
Total score
Response
Action
Monitoring

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