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How to join our Cooperative

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Qualification for membership
  • The members of the cooperative shall be persons and business cooperatives who are engaged in business areas set forth in Sub-category 264 of Korea Standard Industrial Classes within the domain of SMB businesses as per Item 1, Aricle2 (including the SMBs in accordance with item 3 in the same article) of the FRAMEWORK ACT ON SMALL AND MEDIUM ENTERPRISES.
  • In order to facilitate its operation, the cooperative may admit SMBs of other business fields (Sub-category 265 under the Korea Standard Industrial Classes) than those specified in item 1 above. In this case, the members from other domains shall not exceed 20 percent of the total membership.
  • Even in the case where a person who does not fall within the criteria in Article 2 of FRAMEWORK ACT ON SMALL AND MEDIUM ENTERPRISES, if it is deemed necessary to admit such a person, who is engaged in the same industry, into the membership and designated in item 1, Article 4 of the Execution Decree of the law, such a person may be granted membership through a resolution by the board of directors after being recommended by at least 5 members.
  • If a person other than an SMB is admitted in accordance with item 3 above, such a fact shall be notified to the Korea Federation of SMBs (hereinafter referred to as the federation).
  • The cooperative shall verify the qualification of each member in accordance with item 1 and 2 above in each fiscal year.
Membership Application Process
Required documents for a membership application
  • Membership application and capital investment consent form (Designated Form) 1 copy (Form NO. 1)
  • Statement of Pledges (designated form) 1 copy (Form No. 2)
  • Business registration certificate, Factory registration certificate (1 copy for each)
  • A certified copy of the corporate registe(Limited to corporations)
  • National and local tax payment certificate (1 copy for each,To be substituted by the business plan in the case of a newly established company)
  • The latest financial statement (verified by a tax accountant) 1 copy
  • Tax withholding duty performance certificate (verified by a tax accountant) 1 copy (For checking employees)
  • Representative resume (with photo attached) and a map of the head office or factory
  • Other documents required by the cooperative “Persons other than small and medium-sized enterprises” in Article 9, Paragraph 3 of the Articles of Incorporation, submit three copies of each of the preceding documents with a letter of recommendation from 5 or more members (Form No. 3 of the attached table)
Cost for membership
Cost for membership
Item SMB Non-SMB
Capital Investment At least 5,000,000 won
(50 shares)
Admission Fee 500,000 won
Membership Fee 50,000 won per month 100,000 won per month
Remarks ① The applicant whose membership is approved shall, within three weeks from the notice of approval, pay the entire amount of the admission costs in item 1 above. Failure to make the payment within the due date may result in cancellation of the membership approval.
· ② Of the membership admission costs, the membership fee in item 1 above shall be paid in advance for the 12 months from the month in which the date of approval falls (one year).