Ministry of Economy and Finance Selects 'Nongbujangteo' as Cooperative of the Month

The Ministry of Economy and Finance announced on the 29th that it has selected ‘Cooperative Nongbu Jangteo’ as the cooperative of the month.

Cooperative Nongbu Jangteo is a cooperative established in 2013 with the purpose of fostering a healthy and safe food culture by promoting ‘food with a face’ through ‘local food (our agricultural products).’

Starting with 70 members, Nongbu Jangteo has grown into a cooperative consisting of 201 stakeholders as of May 2022, including producers, employees, and members. Its annual sales amount to 4.3 billion KRW through local food direct stores, restaurant operations, and online sales of local food.

In particular, to operate the cooperative efficiently, it runs a member system that includes not only statutory members under the Framework Act on Cooperatives but also prospective members (user members, member farms). This provides an opportunity to indirectly experience the cooperative, leading to the spread of cooperative values and increased awareness.

To secure the sustainability of the cooperative, Nongbu Jangteo is diversifying its main revenue business, the local food supply business, through one direct store, two restaurants, online and direct sales, and joint purchasing. Especially, the local food direct store is used by about 210,000 people annually (as of 2021), and about 77% of the agricultural product sales at the direct store are local agricultural products, contributing to the revitalization of the local economy.

Nongbu Jangteo plans to continue its activities as a regional hub for producing and consuming eco-friendly agricultural products and establishing a proper food culture in our society through relationship-building via the cooperative.

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