Finance
Credit union federation to pick new chief on Jan. 7 amid sweeping crisis
The Korea Federation of Credit Cooperatives will elect a new chairman on Jan. 7 as it grapples with surging delinquencies and a large net loss. Five candidates are running in the first multi-candidate race since direct elections were introduced. The federation’s assets rose to 156.8 trillion won, while liabilities climbed to 147.4 trillion won. Candidates pledge measures to restore soundness and bolster competitiveness, including digital initiatives and new business plans.
