Saemaeul Geumgo - Vietnam Cooperative Alliance MOU
[Asia Economy Reporter Kim Min-young] The National Credit Union Federation of Korea (NACUFOK) announced on the 18th that it has signed a memorandum of understanding (MOU) with the Vietnam Cooperative Alliance (VCA) to promote regular mutual cooperation programs.
The main purpose of this MOU is to build a partnership for the growth of the two cooperatives and to strengthen cooperation in human resource development. The two organizations plan to work towards the development of cooperatives in both countries through future working-level consultations and communication between representatives.
The Vietnam Cooperative Alliance (VCA) is a central federation representing 74 cooperative unions, 22,456 primary cooperatives, and 6.95 million members. It operates offices in 63 provinces of Vietnam and employs 1,674 staff members, making it the highest-level cooperative organization in Vietnam.
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Park Cha-hoon, President of the National Credit Union Federation of Korea, said, “We hope this MOU will serve as a model for cooperation cases among domestic and international financial cooperatives,” and added, “NACUFOK will play a central role in facilitating communication between Korean and Vietnamese cooperatives.”
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