Nonghyup Union: "Management Corruption Undermines Trust in Nonghyup, Eradicate It"

On December 16, the Gyeongnam Regional Headquarters of the National Financial Industry Labor Union NH Nonghyup Branch held a general strike resolution rally in front of the NH Nonghyup Gyeongnam Headquarters, calling for the eradication of corruption among Nonghyup management and wage increases.

The rally, which began on December 2 in front of the main building of NH Nonghyup Central Headquarters in Seoul, continued in Daegu on December 5, Daejeon on December 9, and Gwangju on December 12, before concluding in Changwon on this day. According to police estimates, about 900 union members attended, including those from the Gyeongnam Regional Headquarters, as well as the Busan and Ulsan Regional Headquarters.

A general strike resolution rally of the National Financial Industry Labor Union NH Nonghyup Branch was held. Photo by Lee Seryung

The union argued that a series of corruption allegations involving management, including the acceptance of money and valuables by Central Chairman Kang Hodong, as well as a parliamentary audit pointing out that Nonghyup Life Insurance's promotional items were used for rebates, have severely damaged trust in Nonghyup, prompting calls for a special external audit.

Woo Jinha, head of the NH Nonghyup Branch union, stated, "Our struggle is fueled by anger at corrupt management, who are under investigation for bribery and suspected of creating a 2 billion won slush fund from gifts and delivering it to higher-ups."

He added, "It is truly shameful that the Nonghyup, which our employees have worked so hard to build, is being described as a hotbed of corruption and that there are demands to thoroughly investigate and punish everyone involved. To wake up management, we will carry out a 100% general strike by all union members and take the lead in the fight for the resignation of the executives."

The union has announced its first general strike will take place on December 23.

Members attending the nationwide financial industry labor union NH Nonghyup branch Gyeongnam regional headquarters general strike rally shout slogans while waving glow sticks. Photo by Lee Seryung

The NH Nonghyup Central Headquarters is currently under fire following allegations raised during parliamentary audits, including parachute appointments, vote-buying during cooperative president elections, embezzlement at local agricultural cooperatives, and improper loans. The controversy has intensified as Central Chairman Kang Hodong is under police investigation for allegedly accepting a 100 million won bribe.

In response, the Central Headquarters recently announced a reform plan that includes replacing more than half of the approximately 100 subsidiary CEOs and executives, strengthening accountability for CEOs, and fundamentally banning private contracts. The organization stated that it will focus on restoring trust in Nonghyup.