Police Raid NongHyup Central Association Over 240 Million Won in Official Funds Used for Souvenir Purchases

Department Spent 240 Million Won on Red Ginseng and More
Suspected Delivery to President's Office... Police Move to Secure Evidence

The police, who are investigating allegations that NongHyup Central Association misappropriated foundation project funds to purchase expensive souvenirs, have launched a compulsory investigation into the headquarters of NongHyup Central Association.

The Anti-Corruption Investigation Unit of the Seoul Metropolitan Police Agency began a search and seizure operation at the NongHyup Central Association Headquarters in Jung-gu, Seoul, on the morning of June 12, 2026. The purpose is to secure relevant materials, including the appropriateness of budget execution and the usage of purchased goods.

NongHyup Central Headquarters, Jung-gu, Seoul. NongHyup Central Association

This search and seizure is part of an investigation into a case where one department of NongHyup Central Association used approximately 240 million won in project funds to purchase expensive souvenirs such as red ginseng and cosmetics, which were then delivered to the president's and vice president's offices.

Previously, the government, through a joint special audit of NongHyup announced in March 2026, referred 14 cases with potential legal violations to investigative agencies, including this incident. The cases include: misappropriation of official funds identified at NongHyup Central Association, its affiliates, and member cooperatives; preferential loans; and accounting fraud.

The police are investigating whether the persons involved violated the law based on the audit results.

This content was produced with the assistance of AI translation services.