Employees of NH Investment & Securities and officials of Cheongyang County pose at the nation’s office around 160 kilometers south of Seoul on June 5. The former donated 110 units of induction stoves to the latter. Photo courtesy of NH Investment & Securities

Top brokerage house helps Cheongyang Country

NH Investment & Securities has donated 110 units of induction stoves to farm villages in Cheongyang County, approximately 160 kilometers south of Seoul.

The Seoul-based company said Friday that the induction stoves would be installed at community halls and senior citizen center of the county in South Chungcheong Province.

This is not the first time for the brokerage house, which is one of the leading players in South Korea, to carry out such good-will activities.

NH Securities contributed a total of 413 units of induction stoves to four counties across the nation last year. For 2020, it plans to offer 425 units, including the 110 units for Cheongyang County.

Because of the COVID-19 pandemic, donations to farm villages have substantially decreased, so villagers suffer from big troubles,” an NH official said.

Against this backdrop, we think that induction stoves would give helps to senior citizens there. We will continue to put forth efforts to help farmers.”

The company, which has something to do with the farming industry, has conducted various corporate social responsibility programs for farmers up until now.

In particular, employees of NH Securities voluntarily donated 100 million won ($80,000) to victims of the novel coronavirus this year.

The company also contributed ginseng products worth 100 million won to medical staff in Daegu and the surrounding North Gyeongsang Province, once the COVID-19 cluster.

In addition, the company purchased flowers worth about 300 million won to help flower farmers who are struggling due to the declining demand amid the virus woes.

NH Securities was launched in 2006 when Sejong Securities was incorporated into the National Agricultural Cooperate Federation, otherwise known as Nonghyup.

Currently, CEO Jeong Young-chae heads the outfit, whose largest shareholder is NH Financial Group. Its stake is 76.09 percent.