Kim Cheong-ryong, Youngest Auditor Elected at National Federation of Fisheries Cooperatives

Due to the COVID-19 crisis, Suhyup holds written resolution instead of the first-ever public general meeting

Kim Cheong-ryong, Head of Mokpo Fisheries Cooperative (Photo by Mokpo Fisheries Cooperative)

[Asia Economy Honam Reporting Headquarters Reporter Park Ki-dong] The National Federation of Fisheries Cooperatives (Suhyup) held its executive election by written resolution instead of a public general meeting for the first time in Suhyup history on the 26th due to the COVID-19 pandemic. On this day, the chairman of Suhyup and 91 cooperative heads nationwide participated in the vote, resulting in 86 in favor, 1 against, and 5 invalid votes. It was announced on the 27th that Chairman Kim Cheong-ryong was overwhelmingly supported and elected as the youngest 10th auditor of the Suhyup Central Association.

The auditor of the Suhyup Central Association is elected by a majority vote of the nationwide cooperative heads who participate in the vote among the 91 Suhyup cooperative heads nationwide, after being recommended through the screening of the Personnel Recommendation Committee. The term of office is three years starting from the 13th of next month.

The Suhyup Central Association consists of seven subsidiaries, including Suhyup Bank and Noryangjin Fisheries Market, with total assets of approximately 20 trillion won.

The auditor holds a significant responsibility and authority to guide and supervise the assets and business execution of the Central Association and its subsidiaries, serving as a check and monitoring role over overall management.

Chairman Kim Cheong-ryong of Mokpo Suhyup was elected as an auditor as the sole candidate, surpassing strong candidates nationwide, receiving overwhelming support from fellow cooperative heads. This is because member cooperative heads highly evaluated his innovative management skills, such as improving the vulnerable financial business of Mokpo Suhyup and seeking expansion into the metropolitan area, which have been recognized as exemplary cases by other cooperatives.

Chairman Kim Cheong-ryong said, “I am grateful to the nationwide Suhyup cooperative heads who gave me overwhelming support and encouragement. Based on the experience I have accumulated so far, I will not only fulfill the role required as an auditor of the Suhyup Central Association but also focus on preventive audits and guidance activities that can prevent problems in advance. I will concentrate on progressive roles that improve unreasonable systems and do my best to serve as a bridge for the mutual development of nationwide member cooperatives and the Central Association.”

Meanwhile, with Chairman Kim Cheong-ryong of Mokpo Suhyup being selected as an auditor of the Central Association, it is expected to greatly contribute to the future development of Mokpo Suhyup and the status of the local fisheries industry.

This content was produced with the assistance of AI translation services.