At the National Assembly's audit of the Agriculture, Food, Rural Affairs, Oceans, and Fisheries Committee held on the 18th, the issue of Kang Ho-dong, president of the National Agricultural Cooperative Federation (NongHyup), receiving dual salaries and a retirement achievement bonus was highlighted.
The president of NongHyup concurrently serves as the chairman of The Farmers Newspaper, receiving an annual salary and performance bonuses from both organizations, amounting to a maximum of 810.2 million KRW.
Additionally, it was revealed that former presidents received achievement bonuses ranging from 200 million to 500 million KRW upon their retirement.
Despite the abolition of the retirement system for the president of NongHyup following the 2005 amendment to the Agricultural Cooperative Act, retirement payments have effectively been guaranteed through board resolutions.
Rep. Kim Seon-kyo of the People Power Party criticized, "NongHyup should be an organization for farmers, but the president enjoys privileges, receiving dual salaries and retirement bonuses," calling for reforms on the issue.
Kim also pointed out that President Kang had promised to introduce special achievement bonuses for regional branch heads during his election campaign, emphasizing the need to reconsider retirement achievement bonuses for branch heads as well.
Rep. Park Deok-heum, also from the same party, stated, "It is not appropriate for the president, who holds a non-executive position, to receive dual salaries and retirement bonuses," expressing his intent to push for legislative reforms to reduce the salary and authority of the president of NongHyup.
In response, President Kang said, "I did not thoroughly review the issues regarding salaries," and pledged to take on more responsibility as the president of NongHyup moving forward.
The National Agricultural Cooperative Federation (NongHyup) is a large organization with assets worth 145 trillion KRW. Although the president serves a single four-year term in a non-executive role, he represents the cooperative members and influences personnel and overall business operations, which is why he is often referred to as the "President of Farmers."
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Kang Ho-dong, president of NongHyup, faces controversy over dual salary and retirement achievement bonus... under scrutiny in th
At the National Assembly's audit of the Agriculture, Food, Rural Affairs, Oceans, and Fisheries Committee held on the 18th, the issue of Kang Ho-dong, presiden
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