3 Months Left Until Saemaeul Geumgo's First Simultaneous Chairman Election... "Enhancing Transparency and Representation"

Nationwide First Simultaneous Elections... Election Commission Delegated
Election Campaign Starts from February 20 Next Year

SaeMaeul Geumgo will hold its first nationwide simultaneous election for chairpersons in March next year, about 90 days from now. Instead of the delegate system, members of the Geumgo will directly elect the chairperson, and the Election Management Committee will oversee the entire election process.

According to the SaeMaeul Geumgo Central Association on the 2nd, the Geumgo will hold the first nationwide simultaneous chairperson election on March 5 next year. The Geumgo Election Management Committee will be established on February 12 next year, and the election will be announced the following day, February 13. The voter list compilation period is from February 14 to 18. Election campaigning will begin on February 20.

The headquarters of the Saemaeul Geumgo Central Association in Gangnam-gu, Seoul. Photo by Jo Yong-jun

Previously, the SaeMaeul Geumgo chairperson and Central Association president elections were conducted either by direct election or indirect election by delegates, depending on the Geumgo's choice. The decision to entrust the election management committee was also optional. However, with the revision of the SaeMaeul Geumgo Act in 2021, direct elections for chairpersons became mandatory, and last year, the National Assembly passed the 'Entrusted Election Act Amendment,' which requires the Central Association president and chairperson elections to be entrusted to the Election Management Committee. Accordingly, SaeMaeul Geumgo with capital of 200 billion KRW or more are required to hold direct elections for chairpersons.

A SaeMaeul Geumgo official said, "Since many places previously adopted the delegate system, there were various side effects from the belief that managing only a small number of delegates could secure victory in elections," adding, "We expect that the nationwide simultaneous chairperson election will improve fairness and representativeness in the election."

There is also the effect of unifying the terms of all SaeMaeul Geumgo chairpersons. By conducting the nationwide simultaneous election, if the chairperson's term started between March 22, 2019, and March 21, 2023, the term will be unified to end on March 20 next year to hold the simultaneous election. However, chairpersons newly elected or whose terms started between March 22, 2021, and April 19, 2022, are excluded from the first simultaneous chairperson election and are guaranteed a four-year term. This exception is to guarantee terms for those whose terms began between the law's passage and its enforcement. In the 2029 election, when the second election is held, these will also be included to unify terms.

It is estimated that about half of the total 1,284 Geumgo corporations will be subject to this in next year's election. The Central Association explained that it has established dedicated departments such as the 'Simultaneous Chairperson Election Support Division' and formed a Fair Election Promotion Council to ensure a fair election.

Meanwhile, the National Election Commission has also begun full-scale management of SaeMaeul Geumgo's first nationwide simultaneous chairperson election. On the 19th of last month, the National Election Commission held a countermeasure meeting at the SaeMaeul Geumgo Human Resources Development Institute, attended by executives and staff from election commissions of 17 cities and provinces as well as districts and counties nationwide, to discuss key management plans.

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