Small and Medium Business Cooperatives, Regular General Meeting Season Opens

Regular General Meetings Held for 885 Cooperatives Nationwide
130 Cooperatives to Elect New Chairpersons

The Korea Federation of Small and Medium Business announced on the 9th that the regular general meeting season for small and medium enterprise (SME) cooperative associations, which are representative organizations of SMEs by industry and region, has officially begun.

SME cooperative associations are non-profit corporations established to jointly undertake various collaborative projects such as joint technology development and the establishment of shared logistics facilities in business areas that individual SMEs find difficult to pursue independently.

As of 2024, there are 885 cooperative associations nationwide established under the SME Cooperative Associations Act. Through their regular general meetings, they elect chairpersons (presidents) of cooperatives (federations) whose terms have expired and finalize their business plans for the year.

This year, a total of 130 cooperatives have chairpersons (presidents) whose terms are expiring: 5 federations, 47 national cooperatives, and 78 local or business cooperatives. Chairpersons (presidents) must be elected at this regular general meeting either through a competitive election or by acclamation.

The Korea Federation of Small and Medium Business plans to hold its 63rd regular general meeting at 11 a.m. on the 26th at the KBIZ Hall in Yeouido.