NongHyup Bank will conduct a capital increase worth 400 billion won.
NongHyup Bank announced on the 22nd that it held a board meeting and decided on a capital increase that will be fully allocated to NongHyup Financial Group, which owns 100% of the bank's equity. A total of 7,843,137 common shares will be issued, with an issue price of 51,000 won per share. The reference date for new share allocation is June 9.
NongHyup Bank explained that the purpose of this capital increase is to strengthen the bank's business competitiveness. A NongHyup Bank official said, “We decided on the capital increase to expand corporate loans in the medium to long term,” and noted, “We prioritized funding through equity rather than liability assets.”