As part of its working visit to the Republic of Korea from 6–11 July 2026, the high-level Agribank delegation led by Mr. Pham Toan Vuong, Member of the Board of Members and General Director of Agribank, held a series of meetings with NongHyup Bank (NH Bank), the Ministry of Agriculture, Food and Rural Affairs of Korea (MAFRA), NongHyup Insurance, and other entities within the NongHyup ecosystem to exchange experiences in agricultural finance development, digital transformation, and explore opportunities for future cooperation..

Promoting Strategic Cooperation in Digital Agricultural Finance

During the meeting with NH Bank, the two sides reviewed the implementation progress of the existing Memorandum of Understanding (MOU) and discussed new directions for cooperation in areas such as digital agricultural finance, international payments, cross-border remittances, support for Korean enterprises investing in Vietnam, green finance, ESG, and related fields.

Particular attention was given to the possibility of developing digital platforms serving the agricultural ecosystem by connecting agricultural production and distribution activities with modern financial services. Agribank and NH Bank also exchanged views on cooperation mechanisms for developing products tailored to the Vietnamese community in Korea, as well as solutions to support enterprises operating across agricultural value chains.

Agribank General Director presents a commemorative gift to the Chairman and CEO of NH Bank.

NH Bank’s leadership highly appreciated Agribank’s visit, describing it as an important step toward translating the strategic cooperation agreements already signed into concrete actions, thereby strengthening ties between the leading agricultural banks of Vietnam and Korea.

Learning from Korea’s Agricultural Finance Ecosystem

As part of the program, the Agribank delegation met with the Ministry of Agriculture, Food and Rural Affairs of Korea to learn about Korea’s experience in formulating and implementing policies supporting agriculture, farmers, and rural development.

Discussions focused on agricultural policy lending, interest subsidy and support mechanisms, agricultural credit guarantee funds, agricultural insurance, support programs for young farmers, smart agriculture development, and green finance.

Agribank delegation at the Ministry of Agriculture, Food and Rural Affairs of Korea

The Korean side shared its experience in operating an agricultural support system based on close coordination among the Government, banks, agricultural cooperatives, insurance companies, and related institutions. In particular, the agricultural credit guarantee fund model, interest subsidy mechanisms, and agricultural insurance schemes were highlighted as key tools for expanding access to finance and mitigating risks for agricultural producers.

The Agribank delegation also exchanged views on solutions to promote financial inclusion and the application of data and digital technologies in agricultural lending, with a view to developing financing models based on value chains and cash flows rather than relying primarily on collateral.

Surveying Smart Farm Models and Agricultural Insurance Practices

In addition to formal meetings, the Agribank delegation conducted field visits to several entities within the NongHyup ecosystem, including NH Insurance, NH Bank’s Yeoju Branch, local agricultural product retail outlets, and Smart Farm models in Gyeonggi Province.

Through these site visits, the delegation gained insights into Korea’s application of digital technologies, big data, automation, and artificial intelligence in agricultural production. The delegation also studied the linkage mechanisms connecting production, processing, distribution, and finance throughout the agricultural value chain. 

Agribank delegation visits a Smart Farm model

Regarding agricultural insurance, the Korean side shared its experience in implementing insurance products covering crops, livestock, natural disasters, and farm income stabilization. The insurance system operates with government support to enhance the resilience of the agricultural sector while contributing to the safety and sustainability of agricultural lending activities.

The meetings have laid an important foundation for Agribank, NH Bank, and Korean partners to further expand their cooperative relationship and leverage their respective strengths in modern agricultural finance, digital finance, and sustainable development. The parties agreed to strengthen delegation exchanges, share management expertise, develop human resources, and explore new cooperative initiatives that contribute to the development of agriculture and the financial sectors of both countries.

NongHyup Bank (NH Bank) is the banking institution of NongHyup Financial Group (NHFG), which is part of the ecosystem of the National Agricultural Cooperative Federation (NACF) of Korea. NH Bank plays a central role in providing financial services to support agriculture, rural communities, and farmers across the country. With a nationwide network of more than 1,100 branches, NH Bank is one of Korea’s largest banks and plays a key role in implementing agricultural policy lending programs, agricultural finance initiatives, and sustainable rural development policies.

Tran Thu Ha