Chairman Lee Gae-ho: "Economic Project Revitalization Performance is Poor... Efforts Needed"

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Lee Gaeho, Chairman of the National Assembly Agriculture, Forestry, Livestock, Food, and Maritime Affairs Committee (Democratic Party of Korea·Damyang Hampyeong Yeonggwang Jangseong), on the 16th pointed out the poor performance in promoting the revitalization of Nonghyup's economic business and urged the need for active efforts to revitalize economic business.

Nonghyup implemented a business structure reorganization in 2012 with the purpose of strengthening economic businesses such as agricultural product distribution, which is the cooperative's original role neglected due to focusing on credit business, and preparing development strategies to actively respond to changes in agricultural conditions such as agricultural product liberalization.

Accordingly, they are promoting an economic business revitalization plan with goals of 51% responsible sales of agricultural cooperative shipment volume and new investments of 4.96 trillion won.

However, by the end of last year, the responsible sales ratio was at 30.5%, about 5.4 trillion won, achieving only 56% of the 9.7 trillion won target, and new investment performance remained at 3.7 trillion won, or 74.6%. It is difficult to achieve the goal of strengthening economic business while aiming to be a ‘sales cooperative.’

Chairman Lee said, “The plan to revitalize Nonghyup's economic business ultimately aims to increase farm income through agriculture income-led growth,” adding, “Please take on a sense of mission and actively proceed so that our agriculture and rural areas can feel Nonghyup's efforts to revitalize economic business through increasing farm income by improving farm gate prices and implementing effective projects friendly to cooperative members.”

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