Business · Companies · 2 hrs ago
Nonghyup units gave retirees’ group more than 1.2 billion won
Nonghyup’s central body and local cooperatives gave more than 1.2 billion won to a group for retired employees from 2021 through 2026.
The group, called the Nonghyup Alumni Association, is a private organization separate from Nonghyup.
A lawmaker said the payments had no clear basis in laws or formal rules and were included in budgets as a matter of practice.
The central body stopped its support in September, but local cooperatives continued paying the group, including 175.5 million won this year.
The lawmaker criticized the spending as unfair use of members’ money while farmers face hardship, including falling rice prices.
The dispute centers on whether cooperative funds should support a private retirees’ group without a formal basis.
The lawmaker called for nationwide guidance to end what he described as improper support, but no further action was specified.
Nonghyup Central Association and regional agricultural and livestock cooperatives paid more than 1.2 billion won to a retirees’ group from 2021 through 2026, according to data cited by lawmaker Yoon Jun-byeong.
The total reported support was 1.2221 billion won, and the article says funding had no clear legal or internal-rule basis.
The Nonghyup Retirees’ Association is a separate incorporated group formed to promote ties among former employees.
Nonghyup Central Association stopped funding newsletter mailings from September, but regional cooperatives continued paying support this year.
Yoon criticized the payments as misuse of members’ funds and called for a nationwide end to the practice.
- Who
- Nonghyup Central Association and regional agricultural and livestock cooperatives paid funds to the Nonghyup Retirees’ Association.
- What
- They provided a reported total of 1.2221 billion won over the period described.
- When
- From 2021 through 2026, according to the article.
- Where
- South Korea.
- Why
- The group was established to promote ties among retired employees; the article says the funding was approved without a clearly documented basis.
This story does not have two clearly opposing sides.
Nonghyup Central Association and regional cooperatives began the period in which they provided support to the retirees’ group.
Nonghyup Central Association stopped support for newsletter mailings.
Regional cooperatives reportedly continued support, paying 175.5 million won to the group.
- Total support
- 1.2221 billion won
- Nonghyup Central Association contribution
- 218 million won
- Regional cooperatives’ contribution
- 1.0041 billion won
- Largest regional total
- Gyeonggi, 372.2 million won
- Regional support in 2026
- 175.5 million won
What people are saying
At a time when farmers are suffering because of falling rice prices, members’ hard-earned funds were wasted on preferential treatment for retirees without a clear basis.
Strong guidance must be established to completely stop the unfair support practice by regional cooperatives nationwide.