NH NongHyup Bank launched the NH Gold Chaeum Trust (physical type), a product that manages and invests in customers’ physical gold. Customers can deposit gold bars or gold rings, which are managed by partner Samsung Gold Exchange. At maturity, customers receive pressed gold bars plus investment returns. The product is initially available at the head office banking department and the Central Headquarters sub-branch, with additional branches to be added in stages. NH NongHyup Bank CEO Kang Tae-young became the first customer at launch. The bank and Samsung Gold Exchange signed a business agreement in May covering the physical gold trust business, then developed the product structure, operating procedures and computer systems.