Gokseong-gun Implements Pre-Notification System for Agricultural Corporations

Agricultural Corporation Establishment, Change, and Dissolution Must Be Reported to Local Governments in Advance

[Gokseong=Asia Economy Honam Reporting Headquarters, Reporter Cha Jong-sun] Gokseong-gun, Jeollanam-do announced that the pre-notification system for agricultural corporations will be implemented nationwide starting from the 18th.

The pre-notification system for agricultural corporations requires agricultural cooperative corporations or agricultural company corporations to notify the city, county, or district office with jurisdiction over the corporation's main office location before registering the establishment, changes, or dissolution of the corporation.

The purpose is to accurately understand the operational objectives from the establishment stage of the agricultural corporation and to establish a basis for post-management control of the corporation during the operational phase after establishment.

The pre-notification system was introduced following the recent amendment of the "Act on the Promotion and Support of Farming and Fishing Entities" (hereinafter referred to as the "Farming and Fishing Entities Promotion Act").

The Farming and Fishing Entities Promotion Act was revised to block the establishment of corporations for non-agricultural purposes such as real estate business from the establishment stage and to strengthen the authority of local governments in managing agricultural corporations.

Previously, agricultural corporations were obligated to notify the local government with jurisdiction over the corporation's main office location within 30 days after completing the registration of establishment or changes.

However, even if the notification obligation was not fulfilled, there was no impact on the operation of the agricultural corporation, resulting in a low actual compliance rate.

With the implementation of the pre-notification system, starting from August 18, agricultural corporations in the Gokseong-gun area must notify Gokseong-gun (Agricultural Policy Division) in advance when registering establishment, changes, or dissolution.

At the time of notification, documents such as the articles of incorporation, lists of members and shareholders, and minutes of the general meeting must be attached. Upon pre-notification, Gokseong-gun will issue a notification confirmation certificate.

The corporation must attach the confirmation certificate received from the local government when officially registering the establishment, changes, or dissolution of the agricultural corporation at the court.

Pre-notification of establishment applies only to corporations newly established after the amended Farming and Fishing Entities Promotion Act comes into effect.

Existing agricultural corporations only need to pre-notify when registering changes or dissolution after the law is enforced.

Additionally, it should be noted that due to the amendment, while previously agricultural corporations engaging in real estate business were only subject to dissolution order requests, a new system imposing fines to recover unjust profits from real estate business has been introduced.

A Gokseong-gun official stated, "The legal amendment has established an institutional foundation to strengthen the management and supervision of agricultural corporations. We will enhance monitoring to ensure that agricultural corporations are established and operated in accordance with the purpose of the system."

Gokseong=Asia Economy Honam Reporting Headquarters, Reporter Cha Jong-sun hss79@asiae.co.kr