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Photo = NH NongHyup Bank |
[Alpha Biz= Paul Lee] SEOUL, South Korea – October 23, 2025 – Employee misconduct such as embezzlement, fraud, and personal data leaks within NongHyup (NH) and livestock cooperatives has resulted in nearly ₩100 billion (₩961 billion) in financial damages over the past five years, according to government data.
According to figures released by Rep. Jeong Hee-yong of the ruling People Power Party, based on materials obtained from the National Agricultural Cooperative Federation (NACF), a total of 285 financial incidents occurred between 2020 and September 2025, amounting to ₩961 billion in losses.
North Gyeongsang Province accounted for the largest share of damages at ₩318 billion (33%), followed by Gyeonggi Province (₩289 billion, 30%), South Chungcheong (₩77 billion), South Jeolla (₩66 billion), and Seoul (₩50 billion). Of the total losses, only ₩534 billion (56%) has been recovered so far.
By type, embezzlement was the most frequent with 80 cases, followed by private financial lending (58 cases), unauthorized personal data access and leaks (42 cases), fraud (24 cases), and violations of the Real-Name Financial Transaction Act (23 cases).
Lawmakers have urged stronger internal controls and employee oversight within NH-affiliated cooperatives to prevent further misconduct and rebuild trust among customers in rural and regional communities.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
