Search results for Nongmin Newspaper
Finance
NH to overhaul \'imperial\' power structure as pressure grows for Kang Ho-dong to step down
South Korea\'s government and ruling party are moving to reform what they call Nonghyup\'s overly powerful governance structure, including pursuing revisions to the Nonghyup Act to allow duty suspension if a chairman is found guilty at a first trial on charges such as embezzlement or breach of trust. The steps come as pressure grows for Nonghyup chairman Kang Ho-dong to resign amid allegations tied to a special audit. Farmer groups and politicians are demanding his resignation.
Finance
Kang Hodong, NongHyup chief, apologises amid misconduct row, vows overhaul
NongHyup chairman Kang Hodong said on Jan. 13 he would seek to restore public trust after the interim results of a special audit by the Ministry of Agriculture, Food and Rural Affairs. He issued a public apology and announced plans to overhaul the organisation and improve systems. Kang said he would resign from posts he held concurrently by convention. Key executives said they would voluntarily step down. NongHyup will form a reform committee and revise rules, including overseas lodging limits.
Finance
NongHyup head Kang Ho-dong scrutinised over overseas trip lodging costs, double pay
A special audit by South Korea’s Ministry of Agriculture, Food and Rural Affairs said NongHyup Chairman Kang Ho-dong repeatedly exceeded a daily lodging cap on five overseas trips, spending an additional 40 million won, including stays in five-star suite rooms costing more than 2 million won a night. The ministry is reviewing ways to recover the funds. It also cited possible legal issues over undisclosed expense spending and is examining the appropriateness of Kang’s dual roles and pay.