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Performance and Challenges of Korean Agricultural Cooperatives

Performance and Challenges of Korean Agricultural Cooperatives. The 7th ICA Cooperative Ministers’ Conference Feb. 4, 2004, India. Presented by Mr. Chung Dae Kun, Chairman National Agricultural Cooperative Federation (NACF). Multi-Purpose Agricultural Cooperative System. Extension Services

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Performance and Challenges of Korean Agricultural Cooperatives

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  1. Performance and Challenges of Korean Agricultural Cooperatives The 7th ICA Cooperative Ministers’ Conference Feb. 4, 2004, India Presented by Mr. Chung Dae Kun, Chairman National Agricultural Cooperative Federation (NACF)

  2. Multi-Purpose Agricultural Cooperative System • Extension Services • Agricultural Marketing • Banking • two million member farmers • 1,355 member cooperatives

  3. Recent Performance of Korean Agricultural Cooperatives <Marketing Business> • 35% of market share • Leader both in rural and urban areas <Banking Business> • Total deposit: 160 billion US dollars • largest banking system in Korea • Top ratings from Standard & Poors, Moody’s

  4. What make Agricultural Cooperatives Success • Synergy Effect of Multifunctional System • Typical small-scale hybrid type farmers enjoy full service with one-stop visit to cooperatives • Linking banking and marketing businesses

  5. What make Agricultural Cooperatives Success • Mutual cooperation between government and cooperatives • Federation’s strong leadership • Financial support • Guidance service

  6. Current Challenges • Business specialization • Introducing market-oriented business management • Strengthen brand power • New financial tools

  7. Current Challenges • Synergy effect among business sectors • closer relationship between federation and member cooperatives • Favorable public opinion • Co-existence with nature, consumers, and communities

  8. Role of government is differential to the level of cooperatives’ development • close relationship with government is important for development of cooperatives

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