Next Suhyup Central Association President to Be Elected on the 16th... Election Law Violation Variable

From the left, candidates Kim Deok-cheol, Kim Im-kwon, and Noh Dong-jin

[Asia Economy Reporter Bu Aeri] Financial circles are showing increasing interest in the next president of the National Federation of Fisheries Cooperatives (SuHyup) who will oversee assets totaling 45 trillion won. Although there remains a last-minute possibility of unification, the current outlook favors a three-way race.

The National Federation of Fisheries Cooperatives will hold an extraordinary general meeting at 11 a.m. on the 16th at its headquarters in Songpa-gu, Seoul, to elect the president. The 26th president of SuHyup will be elected through voting at this meeting.

According to the Central Election Commission on the 14th, the current candidates are Kim Deok-cheol, head of Tongyeong SuHyup; Kim Im-kwon, former president of SuHyup; and Noh Dong-jin, head of Jinhae SuHyup. The president of SuHyup is elected by votes from 91 cooperative heads nationwide and the current president.

Candidate Kim Deok-cheol was born in 1955, graduated from Gyeongsang National University, and served as the head of Tongyeong SuHyup for the 17th and 18th terms. Candidate Kim Im-kwon was born in 1949, graduated from Busan Fisheries College (now Pukyong National University), served as head of the Large-scale Purse Seine SuHyup for the 16th and 17th terms, and was the 24th president of SuHyup. Candidate Noh Dong-jin was born in 1954, graduated from Changshin University, and has served as head of Jinhae SuHyup and as a non-standing director of SuHyup.

Since all three candidates are from the Busan and Gyeongnam regions, the outcome is difficult to predict. Given their similar regional bases, some in the industry view the race as a two-horse contest between the two candidates who currently hold cooperative head positions, enjoying the incumbent premium. While candidate Kim Im-kwon has high recognition as a former president, some interpret that his organizational strength may be somewhat weaker compared to the current cooperative heads.

An insider familiar with SuHyup’s situation said, "Unlike previous elections, all candidates this time are from the same region, making it hard to predict the outcome. However, since two candidates are current cooperative heads, they likely have stronger organizational power and grip than candidate Kim Im-kwon." There is also a view that the 'Honam vote' will be decisive. Another insider said, "Since all three candidates have similar support bases, ultimately, who secures the Honam region votes will be crucial."

As the candidates are neck and neck, intense power struggles continue. On the 6th, the Central Regional Coast Guard conducted a search and seizure at candidate Noh’s residence and the Jinhae SuHyup office. The Coast Guard is investigating Noh for alleged violations of the Entrusted Election Act. A financial sector official said, "There are openly circulating rumors that the opposing camp reported this." However, since a confirmed fine of over 1 million won could invalidate the election, this case may become a last-minute variable affecting voter sentiment.

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