The National Federation of Fisheries Cooperatives, also known as Suhyup, celebrated the 60th anniversary at an anniversary event held at the federation headquarters in Shincheon-dong, Songpa-gu, Seoul, on March 31.
Suhyup said it will make preparations for 100 years ahead by implementing core tasks such as the liquidation of public funds, innovation of distribution structure and the launch of a project to develop the Noryangjin Fisheries Market and solidifying growth foundation of fishing villages and the fishing industry.
At the anniversary ceremony, Suhyup declared a vision, titled “60-Year Growth, the Sea of Hope Toward New 100 Years.” Suhyup stressed the building of a foundation for continued growth by achieving transformation for the development of fishing villages and the fishing industry this year on the occasion of the 60th anniversary.
In his commemorative speech, Suhyup Chairman Im Joon-taek said, “Suhyup will expand support to fishermen and the fishing industry, the cooperative entity’s original functions, by paying out public funds this year.” Chairman Kwon disclosed his strong determination related to a early liquidation of all of the outstanding public funds, owed by Suhyup.
Chairman Im said Suhyup is expected to pay back all of the funds which have so far impeded the cooperatives’ functions. Suhyup is now in negotiations with Korea Deposit Insurance Corp. to repay 818.3 billion won in outstanding public funds this year, 6 years ahead of schedule.
Suhyup’s advanced repayment is a reflection of Chairman Im’s determination to return to normal the federation’s roles to support the fishing industry, which remains stuck in a crisis.
In his New Year’s message, Im said, “Suhyup made a great feat of logging the best-ever profit in the consecutive second year last year. Based on this fruition, he said Suhyup will make this the first year of restoring its functions to normal through advanced repayment of outstanding public funds.”
“Following the repayment of the public funds, Suhyup will return profits from Suhyup Bank to people in the fishing industry, cooperatives and the fishing industry, and in doing so, Suhyup will be transformed into a full-fledged renewed federation of cooperatives, taking off 20-year bridle of public funds,” he said.
Chairman Im, in his first year in office, was recognized for turning a profit in 2019. Despite the COVID-19 pandemic, the federation chalked up 31.9 billion won in pre-tax profit, the best-ever one in 2021.
Suhyup renewed the best-ever profit for the second straight year following the posting of 30.1 billion won in 2020. Chairman, in his 4th and final year in office, said Suhyup, marking the 60th anniversary, will make its utmost to make this year a year of being a watersheds moment in its history.
Meanwhile, during the anniversary event, singer-cum actress Jang Nara was honored with a plaque of merit in recognition for her part in spurring the consumption of marine products, daunted by the spread of the COVID-19 pandemic by making the importance of fishermen and the fishing industry known to people.
The honorees of other awards included 10 people awarded with government orders for their contribution related to Suhyup’s foundation, four cooperatives which received the Suhyup chairman’s prize for their exemplary cooperative movement.
Four winners of a photo contest celebrating the 60th anniversary were also honored with the Suhyup chairman’s award.
The photo contest was held under the theme “Our Precious Sea, Our Beautiful Villages.” The winning photos were displayed in a separate space of the anniversary venue.
Suhyup plans to post the photos on the website of celebrating Suhyup’s 60th anniversary and display them off-line like places such as Seoul’s Suseo Station.
Suhyup Conducts Up to 80 Percent Discount Sales of Fisheries Products on 60th Anniversary
Suhyup said the federation was offering a maximum of 80 percent discount sales of fisheries products online and off-line to spur the consumption of fishing items on the occasion of the 60th anniversary.
Suhyup Shopping Mall, an online shopping site specializing in fisheries products, owned by Suhyup, was to hold “Online Korea’s Eight Provinces Fisheries Festival” until April 17, giving a maximum of 80 percent discounts off official price tags of hairtail, mackerel, and other popularity items as well as 600 season speciality products.
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