The National Agricultural Cooperative Federation said on the 21st it will launch a NongHyup innovation committee next year, composed mainly of external Commissioners from academia and farmers' groups, to review the method for electing the central federation president, the scope of the president's roles and responsibilities, and ways to improve the operation of ex officio posts.
In addition, plans to improve the election system for heads and executives of local NongHyup and livestock cooperatives, and the formation of a separate promotion committee to appoint audit Commissioners and cooperative audit Commissioners, will also be put on the review agenda. NongHyup decided to add innovation tasks, taking into account the results of the audit by the Ministry of Agriculture, Food and Rural Affairs and areas for improvement.
Follow-up measures will also be pursued to ensure the settlement of NongHyup reform bills discussed and approved by the Agriculture. Food. Rural Affairs. Oceans. and Fisheries Committee of the National Assembly. The National Assembly's Agriculture, Food, Rural Affairs, Oceans, and Fisheries Committee on the 19th approved an amendment to the Agricultural Cooperative Act that standardizes the method of electing cooperative heads and limits the consecutive terms of nonstanding cooperative heads to two. The amendment also includes shortening the external accounting audit cycle for agricultural and livestock cooperatives from the current four years to every year or every two years.
NongHyup said it will launch the innovation committee with the aim of diagnosing NongHyup's issues from an external perspective and making its governance structure and internal control system more transparent.