The importance of cooperatives to the South Korean economy

By Leo Sammallahti

Before going into the details of a revolutionary change that happened in 2012, it is good to note that cooperatives have played an important part in the Korean economy for generations. 

One industry where the movement has gained a particularly large foothold is agriculture. The dominant player in the industry is The National Agricultural Cooperative Federation. Established in the 1960s to uplift the still largely rural economy, it has grown to include nearly all rural households as its members…Read more

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