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 demanding wage increases.

The rally, which began on December 2 in front of the main building of NH Nonghyup Central Headquarters in Seoul and continued in Daegu on December 5, Daejeon on December 9, and Gwangju on December 12, concluded in Changwon on this day. According to police estimates, around 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 Gyeongnam Regional Headquarters was held. Photo by Lee Seryung

The union argued that a series of corruption allegations involving management, including the acceptance of bribes by Central Chairman Kang Hodong, as well as a National Assembly audit pointing out that Nonghyup Life Insurance promotional items were used for rebates, have severely damaged trust in Nonghyup, prompting an external special audit.

Woo Jinha, head of the NH Nonghyup Branch union, stated, "Our struggle is driven by anger at corrupt management, such as those under investigation for bribery and those suspected of creating slush funds with 2 billion won in gifts to hand over to their superiors."

He added, "It is truly embarrassing that people are talking about Nonghyup, which our employees have built with care, as if it is a hotbed of corruption, demanding thorough investigations and punishment for those involved. To make management come to its senses, we will carry out a 100% general strike by union members and take the lead in the fight for the resignation of the executives."

The union has announced the 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

NH Nonghyup Central Headquarters has recently faced criticism and controversy over allegations raised during the National Assembly audit, including parachute appointments, vote-buying in the cooperative president election process, embezzlement at regional agricultural cooperatives, and improper loans. The controversy intensified as Central Chairman Kang Hodong became the subject of a police investigation for allegedly accepting a bribe of 100 million won.

In response, the Central Headquarters recently announced a reform plan focused on replacing more than half of the 100 or so affiliate CEOs and executives, strengthening accountability for CEOs, and fundamentally banning private contracts, stating that it would focus on restoring trust in Nonghyup.