NongHyup Chairman Kang Ho-dong Appears Before Police Over Bribery Allegations

Society|
|
By Cho Soo-yeon
||
null - Seoul Economic Daily Society News from South Korea

Kang Ho-dong, chairman of the National Agricultural Cooperative Federation (NongHyup), appeared before police as a suspect on Friday over allegations of receiving more than 100 million won ($70,000) in bribes.

The Anti-Corruption Investigation Unit of the Seoul Metropolitan Police Agency summoned Kang to its regional investigation division office in Mapo-gu, Seoul, at 10 a.m. for questioning.

Kang arrived at the building at around 9:30 a.m. When reporters asked whether he admitted to receiving bribes worth hundreds of millions of won and what his position was on cooperative members' calls for his resignation, he replied, "I will cooperate with the investigation as faithfully as possible." Asked about additional allegations including misuse of foundation project funds and receipt of a golden key, he repeated, "I will faithfully cooperate with the investigation."

Kang is suspected of receiving more than 100 million won in bribes from the head of a service contractor that had business ties with NongHyup affiliates around January 2024, when the NongHyup chairmanship election was held. He faces charges under the Act on the Aggravated Punishment of Specific Crimes for bribery.

Police suspect the contractor's head delivered cash in two installments during the period when Kang was widely expected to win the election, allegedly seeking business favors in return. Investigators are intensively looking into the case.

Kang, a former head of Yulgok NongHyup cooperative in Hapcheon-gun, South Gyeongsang Province, was elected the 25th chairman of NongHyup on January 25, 2024, and took office on March 11 of the same year.

Separately, the government conducted a special audit into allegations of embezzlement and bribery involving Kang and other NongHyup executives. The audit uncovered 14 cases with significant potential legal violations, including misappropriation of public funds, preferential loan contracts, and accounting fraud. The findings have been referred to police for investigation.

According to the government's announcement, Kang is also suspected of misusing NongHyup Foundation project funds from 2024 through last year via a key foundation executive identified only as "A." The funds allegedly were used to procure 490 million won worth of thank-you gifts for cooperative heads, members, and employees who had supported his chairmanship campaign.

Additionally, in February last year, Kang allegedly received a 10-don golden key — worth approximately 5.8 million won at the time — from cooperative heads to mark the first anniversary of his chairmanship, in suspected violation of the Improper Solicitation and Graft Act.

Original reporting by Cho Soo-yeon for Seoul Economic Daily.

AI-translated from Korean. Quotes from foreign sources are based on Korean-language reports and may not reflect exact original wording.

Watch · Seoul Economic Daily

More →
6:01

AI KEY

Preview
Korean Corporate Intelligence HubKOSPI · KOSDAQ · 12 sectors

A live, cap-weighted view of every KOSPI and KOSDAQ sector, with same-day Korean reporting distilled by company — built for foreign investors, correspondents and analysts who need to scan Korea before the next session.

Korea Company Atlas

Preview
Market Ontology · The Feedback LoopKFTC 2025 · 92 groups · 121,954 articles

An English ontology of the Korean market — how companies, the media, the government and the National Assembly move each other in a loop. Korea's named controlling persons and designated business groups are a mechanism, not a risk to be priced blind.

SIGNAL

Now live
English Edition · Capital MarketsM&A · IPO · PE · Fund Flows

SIGNAL English Edition is live — Korea's deal desk reporting in English. M&A, IPOs, private equity and fund flows, covered daily for global institutional investors. Browse free; subscriber-only scoops at the 50% intro rate.