KFCC Chairman Park Cha-hoon, fourth from right, poses with Fiji’s Minister for Rural, Maritime Development and Disaster Management Inia Seruiratu, fifth from right, during the latter’s visit to the KFCC head office in southern Seoul on Oct. 13. Photo courtesy of KFCC

Minister Seruiratu discusses cooperation with KFCC chief Park

The Korean Federation of Community Credit Cooperatives (KFCC) announced on Oct. 14 that Fiji’s Minister for Rural, Maritime Development and Disaster Management Inia Seruiratu visited its office.

The visit was designed to share various programs of the KFCC and set up specific plans for bilateral cooperation, according to South Korea’s top apex organization for the country’s cooperative banking sector.

The high-profile visit came after the KFCC workshop in Fiji last month, which was geared toward preparing for the establishment a KFCC branch there.

Back then, Fiji government officials, mostly from the Rural and Maritime Development Minister, took part in the meeting in the Pacific country’s capital city Suva.

Fiji would be the fourth country for the KFCC to share its co-op financial models, following Myanmar, Laos, and Uganda.

KFCC Chairman Park Cha-hoon delivered his warm-hearted welcome to the incoming minister.

“I sincerely hope that Minister Seruiratu will be able to extend his understanding of the KFCC model,” Park said in a speech.

“After Myanmar, Uganda, and Laos, we hope that the KFCC will contribute to the regional economy of Fiji and the country’s development through the inclusive financial model.”

The KFCC has carried out the “going-global campaign” as a part of its ESG management strategies.

Short for Environmental, Social, and corporate Governance, ESG refers to the three central factors in measuring the sustainability of a corporation or business.

The initiative has surfaced as a hot topic in the business world over the past few years.

The KFCC represents around 1,300 financial cooperatives in South Korea.