Will NongHyup carry out large-scale reforms effectively?

The recently announced reforms by the National Agricultural Cooperative Federation (NACF), which also operates NH NongHyup Bank, are drawing attention over whether, and to what extent, a sweeping personnel overhaul will follow, market watchers said Thursday. The organization unveiled a wide range of measures, Monday, to restore public trust following a series of corruption scandals and operational irregularities, including employee embezzlement and poorly screened loans. At the heart of the reforms is a focus on strengthening the central cooperative’s oversight and ensuring a corruption-free regional network, with the goal of rebuilding public confidence. According to the NACF, it plans to replace more than half of its top executives, including senior management and board members, while strengthening transparency in the executive selection process. Retired NACF officials will, in principle, be barred from reemployment as part of a broader effort to end the culture of influence-driven networks. Top executives will be dismissed upon confirmation of serious misconduct, in accordance with a