Why Were 50 Out of 51 Jeonnam Saemaeul Geumgo Chairman Elections Given as Quasi-Elections?

Hampyeongcheonji Saemaeul Geumgo Forfeits Election Amid Management Crisis
Calls for Comprehensive Reform Due to Chronic Poor Management
Gwangju Voter Turnout at 32.6%, Jeonnam at 51.6%

Among the 51 Saemaeul Geumgo branches in Jeonnam, only 50 conducted elections for the position of chairman, and it has been revealed that chronic poor management was the main reason behind this. There are calls for a major overhaul of the Saemaeul Geumgo system.

On the 5th, the '1st Nationwide Simultaneous Saemaeul Geumgo Chairman Election' was held across the country, and in the Gwangju and Jeonnam regions, chairmen were elected through both direct and indirect voting systems.

In Gwangju, direct voting took place at 11 out of 35 branches located in the five districts under its jurisdiction. At the other 24 branches, candidates ran unopposed and were elected without a vote.

In Jeonnam, voting was held at 15 out of 50 branches (11 by direct vote, 4 by indirect vote) across 17 cities and counties. At the remaining 35 branches, candidates ran unopposed and were elected without a vote.

Originally, chairmen were to be elected at all 51 Saemaeul Geumgo branches in Jeonnam, but with Hampyeongcheonji Saemaeul Geumgo not participating in this election, one chairman position remained vacant.

It was confirmed that Hampyeongcheonji Saemaeul Geumgo was unable to elect a chairman due to management difficulties caused by deteriorating financial soundness.

According to the management status evaluation conducted by the Saemaeul Geumgo Central Association prior to the election, Hampyeongcheonji Saemaeul Geumgo was classified as an institution requiring management improvement, as its net capital ratio fell below 4%.

Effectively facing liquidation, Hampyeongcheonji Saemaeul Geumgo reportedly held a board meeting on January 31 and resolved to proceed with a 'merger.'

It is known that internally, discussions about a merger with nearby branches such as Yeonggwang Saemaeul Geumgo had been ongoing until recently.

An official from a local Saemaeul Geumgo branch stated, "This chairman election has brought to light several internal issues that have been festering for a long time," and added, "Even after the election, these problems need to be thoroughly addressed."

Meanwhile, in this Saemaeul Geumgo chairman election, 18,281 out of 56,103 eligible voters in the Gwangju region participated, resulting in a final turnout of 32.6%. In Jeonnam, 24,988 out of 48,465 eligible voters cast their ballots, marking a turnout of 51.6%.