Ko Young-cheol, Chair of the National Federation of Credit Unions (NFCU), achieved a significant milestone by being elected as the new President of the Asian Confederation of Credit Unions (ACCU) at the 45th Annual General Meeting held in Kuala Lumpur, Malaysia, on the 13th. This election serves as a crucial landmark, demonstrating that Korea’s advanced model of symbiotic finance has gained recognition across Asia. With the head of Korea’s credit union sector taking the helm of this confederation, which involves numerous cooperatives and supporting members from the Asia-Pacific region, he now shoulders a weighty responsibility. It is truly remarkable that the operational experience of small, local cooperatives we encounter in our daily lives contributes to building an economic safety net for all of Asia. As the world watches closely, the focus is on how cooperatives in various countries will navigate the rapidly changing financial crisis. In this article, we will examine the background of Ko Young-cheol’s election and the various cooperation plans to be unfolded in the Asian region in the future.
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Ko Young-cheol, Chair of the National Federation of Credit Unions, Elected President of the Asian Confederation of Credit Unions: Future Challenges
1. The 45th Annual General Meeting and the Election of the New President
Amid the vibrant atmosphere of Kuala Lumpur, Malaysia, the 45th Annual General Meeting concluded successfully. At this assembly, credit union representatives from across Asia gathered to reflect on past achievements and share visions for the future. At the center of this event, Ko Young-cheol, Chair of the NFCU, was elected as the new leader with near-unanimous support. The numerous delegates present did not hide their expectation that financial cooperation in the Asian region would take a significant leap forward under the new leadership. It is widely reported that the active participation and outstanding leadership of the Korean delegation played a decisive role in this election. For the next two years, President Ko will undertake the significant mission of leading cooperatives across Asia to produce tangible results. Given Korea’s elevated status on the international stage compared to the past, this assumption of the presidency carries unique significance.
Ko Young-cheol, Chair of the National Federation of Credit Unions, was elected as the new President of the Asian Confederation of Credit Unions at the Malaysian general meeting, beginning a two-year term.
2. The Role and Current Status of the Asian Confederation of Credit Unions
The Asian Confederation of Credit Unions is a massive solidarity network where numerous cooperatives from the Pacific region gather to help and support one another. Currently, hundreds of cooperatives from the Asia-Pacific region actively participate as supporting members. They have primarily promoted various support projects and financial linkages to help developing countries in the Asian region achieve self-reliance. For instance, it is easy to understand their work by imagining small-scale farmers in countries like Vietnam or Cambodia receiving small loans through cooperatives to become self-sufficient. The Korean Credit Union has also played a steady supporting role as part of this vast solidarity, providing unwavering support in both material and moral terms for a long time. At this general meeting, numerous representatives from domestic supporting members visited the site directly, adding depth to the significance of the event. This cross-border effort toward symbiosis is a wonderful example that quietly reminds us of the true essence of finance.
The Asian Confederation of Credit Unions is a core solidarity network involving over 220 cooperatives and supporting members, helping to foster growth in developing countries.
3. Themes and Key Discussions of the 2026 Forum
The forum held this year was conducted under the highly insightful theme of “The Unspoken Reality, Bold Connection.” Participants engaged in heated discussions on how cooperatives can survive and build resilience amidst the complex economic difficulties facing modern society. Unlike ordinary banks that simply pursue profit, cooperatives prioritize people-centered values, meaning the solutions for overcoming crises must also be different. Representatives from various countries present at the scene stayed up late seeking ways to protect the lives of members from a long-term perspective, rather than focusing solely on immediate performance. There was a consensus that it is urgent to weave a robust safety net to ensure no group is left behind in the rapidly changing economic environment. These discussions are not intended to remain mere slogans but are expected to be used as practical guidelines in the field in each country. Experts who attended the forum unanimously stated that it served as an excellent opportunity to improve the fundamental quality of finance in the Asian region.
The forum sought solutions from various Asian countries, focusing on the transformation and resilience of cooperatives in a rapidly changing environment.
4. Introduction to the Korean Credit Union’s Co-Growth Cooperative System
At this forum, the Korean Credit Union fully showcased its unique operational experience and impressive achievements on the Asian stage. In particular, the Co-Growth Cooperative System, presented under the sub-theme “Connecting Growth Beyond Institutions,” received explosive interest from attendees. This system is an exemplary framework designed to allow large cooperatives and relatively small ones to hold hands and thrive together. It embodies the philosophy that in finance, as in the relationship between large and small enterprises, the strong and the weak must live together. In practice, this system has enabled small, struggling local cooperatives to establish a foundation for self-reliance and rise again. After the presentation, a lively scene unfolded as representatives from several countries approached to ask for specific operational methods and advice. This miracle of symbiosis achieved by Korea has now become a valuable asset for the entire Asian region to benchmark.
The Korean Credit Union garnered significant attention by sharing success stories of the Co-Growth Cooperative System at the forum.
5. President Ko Young-cheol’s Inaugural Remarks and Future Plans
In his inaugural remarks, the newly elected President Ko Young-cheol emphasized that he would listen to the voices from the field above all else and work together to find solutions. He stressed that in the rapidly changing financial environment, it is difficult for individual cooperatives to survive alone, so the experiences and capabilities of each country must be pooled. He clearly expressed his determination to share the know-how of symbiosis and cooperation that the Korean Credit Union has built through sweat and tears. His biggest goal during his term is to provide a sturdy ladder for weaker cooperatives in the Asian region to stand on their own feet. To this end, he plans to significantly expand regular exchange programs and practical training courses to enhance the capabilities of human resources. President Ko’s sincere commitment will serve as a powerful driving force that can change the financial landscape of the entire Asian region. Readers, please watch with affection the warm changes that the Asian Confederation of Credit Unions, led by a Korean leader, will create in the future.
President Ko expressed his ambition to enhance the competitiveness of Asian credit unions by sharing Korea’s symbiotic experience with member countries.
6. Prospects for Asian Financial Cooperation and Our Challenges
The election of Ko Young-cheol, Chair of the NFCU, as President of the ACCU is not merely a personal honor but a significant event that has announced the stature of Korean finance to the world. Under his leadership over the next two years, marginalized neighbors in various Asian countries will enjoy better financial benefits. The memories of small savings and loans that we casually pass by in our daily lives collectively create a massive economic safety net for Asia. Going forward, we must continue to show interest and support these international solidarity activities at both the government and private levels. Readers, please take a moment to look around at the cooperatives in your vicinity and empathize with the warm value of symbiosis they possess. We must not forget that small practices in our immediate surroundings can ultimately become a great link that helps neighbors on the other side of the globe. Let us all cheer for and witness the beautiful history of co-growth that will unfold in the Asian region.
Through President Ko Young-cheol’s leadership, sustainable growth and symbiotic cooperation among Asian credit unions are expected to accelerate.
Frequently Asked Questions
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