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February 2025
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Korea’s Nonghyup Bank seeks bids from local firms to manage asset pool

Nonghyup
By Hui Ching-hoo   
January 22, 2025

South Korea’s Nonghyup Bank has opened a tender seeking a local asset management firm to oversee its asset pool comprising stocks, bonds and multi-assets.

The winning bidder will be appointed for one year, the bank says in a request for proposal on January 20 for its first tender of 2025. The document does not disclose the size of the asset pool.

Financial institutions bidding on the tender must have at least 30 billion won (US$20.9 million) of net assets. Applications are open until February 25.

Nonghyup Bank has appointed local investment consulting firm KG Zeroin to evaluate applicants.

The bank, a unit of the National Agricultural Cooperative Federation, provides banking, foreign exchange and card services to domestic corporate and retail clients.