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Pres. Lee Blames Nonghyup Execs for Corruption

Posted December. 05, 2008 04:25,   


President Lee Myung-bak yesterday criticized the state-run National Agricultural Cooperative Federation, or Nonghyup, saying its top executives are playing politics for their own self-interest.

“Nonghyup has failed to fulfill its goal of helping farmers and improving their living standards, and this is largely because its executives were only interested in playing politics instead of serving their clients," he said in unusually strong language.

President Lee was speaking to vendors selling agricultural and fishery products at Garak Market in southern Seoul, adding, “Nonghyup has earned trillions of won every year through banking and other businesses. This money is supposed to be returned to farmers.”

His comments indicate an imminent overhaul of personnel management and restructuring at Nonghyup given the organization’s alleged irregularities.