Nonghyup audit committee chair may be elected by peer vote, reform plan to be unveiled June 15

A proposal to elect the chairperson of Nonghyup Central Federation's audit committee through a vote among committee members is expected to be included in the government's Nonghyup reform plan.

The Ministry of Agriculture, Food and Rural Affairs plans to hold a Nonghyup Reform Task Force briefing on June 15 to unveil the key details of the reform package, according to the government Monday.

Vice Minister Kim Jong-gu, who heads the task force, and Jang Gyeong-ho, president of the Agricultural Policy Research Institute, are among the task force members set to attend. The ministry plans to present the main elements of the reform plan and then take questions from reporters.

A central agenda item at the briefing is expected to be how to restructure the Nonghyup Audit Committee, an independent body within the central federation.

The audit committee is being discussed as a means of strengthening the independence and expertise of Nonghyup Central Federation's auditing function. The government proposal currently under review calls for a committee of five to seven members — one recommended by the Ministry of Agriculture, Food and Rural Affairs, two by Nonghyup, and two to four drawn from a pool of outside experts in academia and the private sector. The chairperson would be elected by a vote among the committee members.

Yun Won-seup, the ministry's agricultural policy director, said the proposal represents a government alternative and that "it has not yet been finalized, as it will ultimately be decided through National Assembly deliberations."

Vice Minister Kim said the first reform plan was developed through consultations between the ruling party and the government, but that some disagreements had emerged, prompting revisions and further discussions. "The second reform plan is also still being discussed through debate and consensus-building," he said.

He added that matters related to the audit committee are subject to National Assembly legislation and must go through sufficient discussion and consultation.

The ministry plans to finalize the outline of the second Nonghyup reform plan this month after completing task force deliberations and a public comment process.