On April 22, 2026, Vietnam Bank for Agriculture and Rural Development (Agribank) and NongHyup Bank (Korea) signed a Memorandum of Understanding (MoU), marking a new milestone in the cooperation between two leading financial institutions in agriculture and rural development, aiming to promote digital transformation and sustainable growth.

At the signing ceremony, Mr. Pham Toan Vuong, General Director of Agribank, emphasized that the MoU not only builds on the strong foundation of cooperation between the two institutions, but also elevates their partnership to a more in-depth, comprehensive and substantive level. This marks an important milestone in Agribank’s strategy to expand international cooperation, while further accelerating its digital transformation, particularly in key areas in the new era.

Under the MoU, the two parties will strengthen cooperation through the exchange of experience, technology and solutions in digital finance and digital banking. These efforts aim to narrow the gap in financial access between urban and rural areas, bringing modern financial services closer to people, especially those in agricultural and rural communities.

In addition, Agribank and NongHyup Bank will promote cooperation in green finance, credit for high-tech agriculture and the development of agricultural value chains, contributing to enhancing the value and competitiveness of the agricultural sector. The two banks will also coordinate to support Korean enterprises investing in Vietnam and Vietnamese enterprises in Korea, while exploring co-financing opportunities for large-scale and key projects.

Another important area of cooperation is human resource development through the expansion of staff exchange programs, training, technology transfer and the sharing of modern banking management practices. At the same time, Agribank stands ready to exchange information with NongHyup Bank to explore appropriate cooperation opportunities during its equitization process, in compliance with applicable laws and regulations and in line with the development orientations of both institutions.

On behalf of NongHyup Bank, Mr. Kang Tae Young, Chairman and Chief Executive Officer, highly appreciated the long-standing cooperative relationship with Agribank and affirmed that Vietnam is one of the potential markets in the bank’s international development strategy. Following his visit and working sessions at Agribank in October 2025, the two sides established a joint working group to develop cooperation mechanisms and actively exchange specific initiatives in digital finance and agricultural finance.

Over more than 20 years of cooperation, Agribank and NongHyup Bank have achieved positive results, particularly in training, staff exchanges and the sharing of management experience. More than 600 staff members have participated in training and exchange programs, contributing to strengthening professional capacity in areas such as risk management and agricultural lending. In treasury cooperation, transaction volume in 2025 reached VND 2,560 billion, reflecting the expanding scale of collaboration while reinforcing mutual trust and the complementary strengths of the two banks

The signing of the MoU took place in the context of increasingly strengthened Vietnam–Korea relations, creating favorable conditions for financial institutions of both countries to enhance cooperation in a more practical and effective manner. Building on this foundation, the two banks aim to jointly promote the development of agriculture and rural areas toward modernization, sustainability and high-tech application.

Kylie Nguyen