UIWANG — The city of Uiwang in Gyeonggi Province said on the 1st that it had signed an operating agreement with the Uiwang branch of NH NongHyup Bank, which has been designated as the city's next treasury bank. The branch will handle the city's treasury operations for four years, from Jan. 1, 2027 to Dec. 31, 2030.
The city earlier issued a public notice and a re-notice seeking applications from local financial institutions under open competitive bidding to select its next treasury bank. In both rounds, the Uiwang branch of NH NongHyup Bank was the only applicant. The city then convened a treasury designation review committee under the relevant rules to assess the bank's eligibility.
The branch will carry out the full range of treasury functions for Uiwang's general accounts, special accounts and funds, including collecting revenues, disbursing expenditures and managing and investing city funds.
"We expect the Uiwang branch of NH NongHyup Bank to run the treasury transparently and responsibly, provide convenient financial services to residents, and contribute to the local community and the development of Uiwang," Mayor Kim Sung-je said.
