Nonghyup Bank Boosts Agri-Tech Startups with AI Technology

NH Nonghyup Bank is accelerating its efforts to foster AI agricultural technology companies. Kang Tae-young, Governor of NH Nonghyup Bank, visited AOPFarm, a company invested in by its agri-food fund, to inspect the operational status of its AI agricultural product sorting system and discuss future growth support measures.

On the 29th, Kang Tae-young, Governor of NH Nonghyup Bank, visited the Wolhang Nonghyup Production and Distribution Center (APC) in Seongju-gun, Gyeongbuk Province. The visit was made to inspect the operational status of AOPFarm's AI agricultural product sorting system, a company invested in by the agri-food fund, and to discuss financial and non-financial support measures.

AOPFarm is an agri-tech startup based on AI and deep learning, founded by CEO Kwak Ho-jae, an alumnus of UNIST. The company has been developing AI technology for quality assessment of agricultural products to solve the structural labor shortage problem in rural areas. Its flagship solution, 'AIOVISION,' analyzes up to 36,000 agricultural products per hour for 26 defect categories such as deformities, pests, and sugar content in crops like Korean melons, tomatoes, apples, and tangerines, achieving over 30 times the work efficiency compared to skilled human labor.

AOPFarm has recently expanded its applicability to vegetables like garlic and chili peppers by developing a transparent belt system that allows for full-surface inspection without rotating the produce, earning recognition for its technological prowess. The Wolhang Nonghyup APC is a prime example of a smart APC that has adopted eight units of AOPFarm's AI sorting machines. The adoption of the AI-based automated sorting system is heightening the efficiency and productivity of agricultural product quality management and is gaining attention as a model for addressing rural aging and labor shortages.

NH Nonghyup Bank continues to provide customized financial and business linkage support tailored to AOPFarm's growth stages even after the initial investment, which is seen as a symbolic move showcasing Nonghyup Finance's future agricultural strategy. The event was held at the Wolhang Nonghyup APC in Seongju-gun, Gyeongbuk Province, where AOPFarm's AI sorting system is actively in operation, attended by NH Nonghyup Bank Governor Kang Tae-young and AOPFarm CEO Kwak Ho-jae.