Jeonbuk Special Self-Governing Province has selected Nonghyup Bank for the first vault and Jeonbuk Bank for the second vault as the next fiscal year's vaults.

On the 31st, the province evaluated various factors such as the creditworthiness and financial structure of financial institutions, proposed deposit and loan interest rates, vault management capabilities, convenience for residents, contributions to the local community, and plans for cooperative projects through a deliberation committee meeting.

As a result, Nonghyup Bank was chosen as the first vault, and Jeonbuk Bank as the second vault.

Nonghyup Bank, selected as the first vault, will be responsible for managing two special accounts (medical aid fund, fire department), and four funds (disaster management, agriculture and fisheries development, disaster relief, hometown love fund) including the general account. Jeonbuk Bank, selected as the second vault, will handle three special accounts (eastern region, school site development fee, regional resource facility tax for specific resources and facilities), and twelve funds (integrated fiscal stability, sports promotion, self-reliance, gender equality, elderly welfare, food promotion, small and medium-sized enterprise support, inter-Korean exchange cooperation, regional development, innovation city performance sharing regional balanced development, social economy, climate response).

Based on the deliberation results, Jeonbuk Special Self-Governing Province plans to sign agreements with financial institutions and vaults in mid-November. During the agreement period, the two vaults will actively participate in financial management, including revenue collection and expenditure payment of the province, securities issuance and custody, as well as cooperative projects and financial support for regional community development.