NH NongHyup Financial Group Chairman and CEO Lee Chan-woo (left) and Mayapada Group Chairman Dato Sri Tahir pose during a partnership signing ceremony held at Mayapada's headquarters in Jakarta, Indonesia, Wednesday. (NH NongHyup Financial Group) NH NongHyup Financial Group said Thursday it had signed a strategic partnership with Mayapada Group, a prominent Indonesian conglomerate spanning banking, health care, property, retail and media.The memorandum of understanding was signed Wednesday at Mayapada's headquarters in Jakarta, with NH NongHyup Financial Group Chairman and CEO Lee Chan-woo and Mayapada Group founder and Chairman Dato Sri Tahir in attendance.Mayapada is controlled by Tahir, one of Indonesia's best-known business figures, whose wealth has been estimated at about $10.1 billion. Its banking arm, Bank Mayapada, had 163.8 trillion rupiah ($9.31 billion) in total assets in 2025.Under the agreement, NH NongHyup, the financial holding arm of Korea's agricultural cooperative federation, will share its financial expertise in Indonesia and work with Mayapada to develop mutually beneficial business models. The companies plan to cooperate in digital transformation, risk management, investment banking, brokerage and wealth management, while conducting market research as NH NongHyup explores a potential expansion in Indonesia.NH NongHyup said the partnership would help broaden its financial-sector ties with Indonesia, ASEAN's largest economy, with a population of about 280 million and annual growth of more than 5 percent. Its brokerage unit NH Investment & Securities already operates in the country through PT NH Korindo Sekuritas Indonesia, in which it holds a 93 percent stake."We anticipate the MOU will help further strengthen NH NongHyup Financial Group's global capabilities by expanding local networks and exploring new business opportunities in Indonesia," Lee said.Following the signing, Lee also met with Rosan Roeslani, CEO of Indonesia's sovereign wealth fund Danantara. Lee expressed interest in creating concrete cooperation opportunities between the fund and NH NongHyup affiliates, including joint investments in climate tech funds.