[New Year's Message] Lee Seong-hee, President of NongHyup Central Association, "Let's Become the 'Unrivaled Leader' in Distribution and Digital Finance"

Chairman Lee Emphasizes "Active Response to Changes Such as Youth Farmer Development, Carbon Neutrality, and Mega FTAs"

Lee Seong-hee, President of the National Agricultural Cooperative Federation. (Photo by National Agricultural Cooperative Federation)

[Sejong=Asia Economy Reporter Moon Chaeseok] On the 31st, Lee Seonghee, Chairman of the National Agricultural Cooperative Federation (NACF), said in his New Year's address for next year, "I hope that NACF will stand tall as the strongest distribution leader and, based on unparalleled digital finance, expand into a world-class cooperative financial institution that surpasses not only the best in Korea but also France's Crédit Agricole."

Chairman Lee reflected on this year, saying, "We have integrated four distribution subsidiaries, and the integration of nationwide agricultural cooperative kimchi processing plants is nearing completion, with the historic launch of the integrated corporation just ahead. We have strengthened online distribution functions at every stage from production areas to retail, laying the foundation to elevate the competitiveness of agricultural and livestock product distribution to a new level." He added, "With over 16 million customers subscribing to mutual finance and NACF Bank mobile banking, NACF has established itself as a leader in digital finance."

He encouraged executives and employees to achieve three innovations next year: transforming agriculture into a growth industry, innovating rural areas in response to the decline in the agricultural population, and becoming the strongest leader in distribution and finance.

Chairman Lee stated, "To transform agriculture into a high value-added industry, the comprehensive guidance and support capabilities of the entire NACF for farmers should be concentrated on developing competitive agricultural and livestock products and enhancing quality. I expect the pace of distribution reform, a crucial task that is NACF's destiny and the hope of agriculture, to accelerate so that clear results are felt by farmers and consumers this year."

He continued, "We must strengthen comprehensive support for the spread of digital agriculture and do our utmost to serve as a catalyst for the smartification of agriculture. In particular, solid preparation for carbon neutrality is necessary." Regarding the expansion of agricultural and livestock product import and export liberalization under mega free trade agreement (FTA) systems such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP), he said, "This is a time when wisdom and capability are needed to turn crises into opportunities. I hope that through company-wide efforts to pioneer overseas markets and expand exports of agricultural and livestock products, we can open a breakthrough for our agriculture."

He emphasized the urgency of fostering young farmers to respond to the rural extinction crisis caused by the decline in the agricultural population. Chairman Lee said, "I hope all business sectors will do their best together to support young farmers in all aspects of farming and improve living conditions so that young people can boldly challenge agriculture with dreams and a future."

He also urged executives and employees to achieve definite results in key businesses such as distribution and finance. Chairman Lee said, "I expect NACF to stand tall as the strongest distribution leader. Please maximize the unique strengths of NACF's distribution chain connecting production areas with wholesale and retail, strengthen online distribution, and build a powerful distribution ecosystem that no one can rival."

He stressed that winning in digital finance is essential to becoming the future leader in the financial market. He said, "I hope NACF will expand into a world-class cooperative financial institution that surpasses not only the best in Korea but also France's Crédit Agricole, based on an unrivaled digital finance platform. If the economy and finance, the central federation and agricultural cooperatives, urban and rural cooperatives cooperate closely based on a solid network, we will move forward together on a path of greater leap."

He emphasized the need to strengthen ESG (Environmental, Social, and Governance) management as Korea's representative cooperative. Chairman Lee said, "ESG is no longer a choice but a necessity. I ask everyone to unite their strength and capabilities to become a respected NACF that practices ESG through green management that protects the environment, sharing management that walks with the vulnerable, and clean ethical management."

He said that next year, everyone must be armed with the spirit of 'Ilmichilgeun (一米七斤),' which means that seven geun (approximately 2.8 kg) of sweat is soaked into one grain of rice, expressing the farmer's devotion to growing crops. He added, "Let us move forward unwaveringly toward the 100-year NACF with great confidence and unity."

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