Police Raid Nonghyup Over Suspected Use of Public Funds for Pricey Gifts

About 240 Million Won in Gifts Purchased and Delivered Probe Targets Actual Recipients and Whether Delivery Occurred

Society|
|
By Yang Ji-hye
||
Nonghyup Federation headquarters in Jung-gu, Seoul. Yonhap News - Seoul Economic Daily Society News from South Korea
Nonghyup Federation headquarters in Jung-gu, Seoul. Yonhap News

Police are conducting a search and seizure at the National Agricultural Cooperative Federation (Nonghyup), which is suspected of purchasing and delivering expensive gifts.

According to reporting compiled by Seoul Economic Daily on Wednesday, the Anti-Corruption Investigation Unit of the Seoul Metropolitan Police Agency has been conducting a search and seizure at Nonghyup's headquarters in Jung-gu, Seoul, since that morning.

Earlier, a government joint special audit team released the "Results of the Nonghyup Government Joint Special Audit" in March this year, stating that some departments of Nonghyup purchased 240 million won worth of gifts, including red ginseng and cosmetics, and delivered them to the offices of the chairman and vice chairman. However, because it was unclear exactly to whom and why they were delivered, the matter became the subject of an investigation request.

Police plan to investigate the actual recipients and whether the items were delivered based on the seized materials.

Original reporting by Yang Ji-hye 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 →
5:23

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 Chaebol Tree

Preview
Families Behind the GroupsKFTC May 2026 · DART filings

An English-first interactive map of Samsung, SK, Hyundai, LG and Lotte — built for foreign investors, correspondents and analysts. Korea translates companies into English. We translate the families behind them.

SIGNAL

Pre-register
English Edition · Capital MarketsM&A · IPO · PE · Fund Flows

Pre-register for SIGNAL English Edition — a premium subscription bringing Korean capital markets coverage (M&A, IPOs, private equity, fund flows) to global institutional investors. First access to the 50% introductory rate.