Saemaeul Geumgo Registers Three Corporations in Uganda

The Education Officer of the SCOBYa Tusu Bira Cooperative (Saemaeul Geumgo Pioneers Group/photo center) is conducting Saemaeul Geumgo establishment training locally. [Photo by Saemaeul Geumgo Central Association]

[Asia Economy Reporter Song Seung-seop] The National Credit Union Federation of Korea (NACUFOK) announced on the 28th that it has completed the corporate registration of three official Saemaeul Geumgo corporations in two provinces of Uganda and held their inaugural general meetings.

According to the federation, the three local corporations will be established and operated with eight villages as their main business areas. Considering that the rural areas are mostly inhabited by the poor, they plan to offer customized financial products and services.

Park Cha-hoon, President of NACUFOK, emphasized, “In Uganda, Saemaeul Geumgo aims for inclusive and sustainable rural development that promotes savings, investment, and economic activities, and we will further strengthen cooperation among stakeholders.”