Dr. Anek Luanglue, FSCT’s Vice President, along with Pol.Maj.Gen. Danukrit Kalampakorn, Vice President, and Mr. Term Mitjit, Director & Secretary, brought 20 Thai cooperators to visit and learn more about cooperative in term of Management, Human Resources Development and Welfare for the community and society. We visited the Korean Federation of Community Credit Cooperatives (KFCC), SK Hynix MG and Busan Private Taxi Association MG according to 2024 FSCT & KFCC Leadership Exchange Program on October 14-21, 2024, in the Republic of Korea.
SK Hynix MG is a non-profit financial institution. It was established in 1985 under the name “Hynix Semiconductor” and changed its name to SK Hynix in 2012. Its members are employees of SK Hynix and other subsidiaries. It currently has 40,000 members and 53 employees, which is composed of 11 executives and 42 employees. It has total assets of 1.6 trillion Won (38,823 million Baht), including share capital of 40 billion Won (970 million Baht) and net profit of 10 billion Won (242 million Baht).
SK Hynix MG’s business provides various types of financial services such as stock investment, salary accounts, savings account, long-term deposit accounts, housing loans, provident fund loans, and insurance, etc. In addition, there are welfare stores such as mobile phones, accessories, home appliances, etc. and facilities such as coffee shops, restaurants, drug stores, convenience stores, etc. Dividends are paid according to the investment and overall operation which increase every year (dividend was at 28.6% in 2023), reflecting its efficient financial management that focuses on sustainable growth and providing comprehensive welfare services to members and helping members. The consistent returns and variety of privileges can improve the quality of life and financial stability of all.
Busan Private Taxi Association MG was established in 1992 in Busan. It has 17 executives and 16 employees, in total 33 people.
Membership: 16,658 members
Total Assets: 306,900 million Won (7,446 million Baht)
Share Capital: 27,800 million Won (674 million Baht)
Deposits: 245,200 million Won (5,949 million Baht)
Loans: 142,600 million Won (3,460 million Baht)
Net Profit: 4,600 million Won (111 million Baht)
The total dividends from investment and dividends based on the proportion of its service use totaled 2 billion Won in 2023, with an investment dividend of 3% (900 million Won), and an operating dividend of 3.5% (1.1 billion Won).
Finally, FSCT would like to express its deepest gratitude to KFCC for the warmest welcome and hospitality during the stay in the Republic of Korea.
