Shinhyup Signs Win-Win Cooperation MOU with 5 Major Small Business Professional Organizations

At the 'Shinhyup-Small Business Win-Win Cooperation Agreement Ceremony' held on the 17th at the Millennium Hilton Seoul in Jung-gu, Seoul, attendees are taking a group photo. (From left: Choi Young-gyun, President of the Korea Outdoor Advertising Association Central Committee; Yoon Chung-ki, President of the Korea Confectionery Association; Kim Yoon-sik, President of Shinhyup Central Committee; Kim Jong-seok, President of the Korea Opticians Association; Lee Bong-seung, President of the Korea Jewelry Industry Cooperative Federation; Jeon Hyun-ok, Chairperson of the Korea Florist Association)

[Asia Economy Reporter Song Seung-seop] The National Credit Union Federation of Korea (NACUFOK) announced on the 19th that it has signed a Memorandum of Understanding (MOU) for win-win cooperation with small business organizations to support local small business owners.

On the 17th, at the 'NACUFOK-Small Business Win-Win Cooperation Agreement Ceremony' held at the Millennium Hilton Seoul in Jung-gu, Seoul, NACUFOK signed a mutual cooperation MOU with five major small business professional organizations aiming to revive the local economy centered on small business owners. The ceremony was attended by the Korea Optometric Association, Korea Confectionery Association, Korea Jewelry Industry Cooperative Federation, Korea Outdoor Advertising Association Central Association, and Korea Florist Association.

Based on the MOU, NACUFOK plans to select five major fields preferred for low-income entrepreneurship and support them. Customized financial services, including low-interest loans, will be launched for self-employed individuals experiencing financial difficulties, and management consulting measures such as exploring sales channels will be promoted for each professional organization.

Kim Yoon-sik, Chairman of NACUFOK, stated, “The five industries that signed the agreement are fields preferred for low-income entrepreneurship, and we expect that this will provide more practical help to local self-employed individuals who have been pushed to the economic edge due to COVID-19.”