National Agricultural Cooperative Federation (NACF)
Submitted by Garry Cronan on October 13, 2007 - 10:19am.
National Agricultural Cooperative Federation (NACF) | Banking and Finance | South Korea | Environment | Community | Principles/CSR
Over 4,000 branches around the country provide efficient financial services. Over the last four decades, the NACF has supported farmers, rural communities and agriculture in areas such as marketing and supply, banking, and in education.
Global 300 ranking:
5Number of members:
2,411,272Member Dividend:
USD $70,340,129Number of employees:
15,622Gender Diversity:
27% of employees are femaleTurnover:
USD $: 2,147,483,647Type of Co-operative:
Consortium and FederationDate founded:
1961Operating Countries:
South Korea and internationally by export.
Website:
Environment
Reducing environmental impact
NACF assists with environment-friendly farming, by supporting co-operative farm groups for environment-friendly agricultural production by developing farming technology, and by providing education and public relations services for farmers and consumers.
Fostering co-operative farm groups and pilot research projects
NACF is supporting environment-friendly agriculture by assisting with computerized management of co-operative farm groups, providing loans, and farm technology education. In co-operation with the Rural Development Administration (RDA), the NACF operates pilot projects for organic livestock production systems, environment-friendly agricultural materials, and circulation farming at the local level.
Educating both producers and consumers
NACF offers technological education and agro-related information to assist farmers in meeting safety and application standards for chemicals and fertilizers.
Soil revitalization campaign
The NACF set November 9 as ‘The Day of Soil’ and has been carrying out a nationwide campaign for soil revitalization. As part of the campaign, the NACF tests soils across the country and holds related symposia. The NACF and member cooperatives are monitoring illegal disposal of industrial wastes and discharge of industrial sewage.
Community
‘Love Our Farming Villages’ campaign
NACF has launched a campaign for mutual prosperity of cities and farming villages to improve the quality of life of urbanites and farmers alike, and to make farming villages more vibrant places to live in.
Traditional culture
NACF plays a key role in preserving the unique, local traditional culture of every region in Korea. Nong-hyup supports many local events. One of NACF’s important activities is ‘Root Finding’ in which people can find historic remains like Jang-seung, Sot-dae, and pavillon tree, and trace across cultural remains.
Sponsoring regional culture events
The NACF sponsors traditional regional events like the Yeo-ju Rice Festival, the Kum-san Ginseng Feast, the Choon-cheon Noodle Feast, and the Red Pepper Feast as well as ‘Sun-nong-je’, a ceremony praying for an ample harvest. These events combine the regions’ unique colors and spices.
NACF Hyo Awards and Children’s Competitions
On Parent’s Day, NACF holds the Hyo Awards which are awarded to the sons or daughters showing devotion to their parents and for the youth who have taken care of the elderly. The National Children’s Painting and Composition Competition and Exhibition also gives children a chance to understand the value of agriculture.
