Government to designate leading universities, link training to employment; AI-transition vouchers and low-interest loans on offer

Public-service cooperatives in healthcare, care, residential, education and energy sectors to expand

Lim Ki-geun, vice minister of the Ministry of Economy and Finance [Yonhap]
Lim Ki-geun, vice minister of the Ministry of Economy and Finance [Yonhap]

The government has declared 2027 the "year of cooperative revival," pledging broad support for the country's 30,000 cooperatives — spanning talent development, digital transformation and financial assistance — as it pushes for qualitative growth beyond sheer numbers. The role of cooperatives in public-service sectors including healthcare, care services, housing, education and energy will also be significantly expanded.

The Ministry of Planning and Budget held the 14th annual Cooperative Day ceremony Wednesday at the Coex Magok Convention Center in Seoul, unveiling the policy direction. About 600 government officials, representatives of related agencies and cooperative activists attended to share achievements and discuss the sector's future.

President Lee Jae-myung delivered a video address, saying the country must strengthen the role of cooperatives — grounded in solidarity and cooperation — to overcome the twin crises of polarization and regional depopulation. "We will actively foster outstanding cooperatives in sectors directly tied to people's livelihoods, including healthcare, care, housing, education and energy," he said.

Vice Minister Lim Ki-geun said cooperatives have reached a turning point where qualitative advancement must follow quantitative growth, amid the sweeping shift toward AI and widening K-shaped inequality. "We will designate 2027 as the year of revival and provide comprehensive innovation support across education, talent development and finance," he said.

To cultivate on-the-ground cooperative experts — with a focus on young people — the government plans to designate leading universities and run programs linking training to employment and entrepreneurship. It will also boost cooperatives' digital competitiveness through financial support including AI and digital transformation vouchers and low-interest loans. Cooperation with local governments will expand commercialization support across five public-service sectors: healthcare, care, housing, education and energy.

At the ceremony, 20 commendations from the minister of the Ministry of Planning and Budget were presented to individuals and organizations that contributed to cooperative development and social value. The inaugural "Best Cooperative" grand prize — introduced this year — went to Kkumgorae Social Cooperative, which built a tailored care model for people with developmental disabilities. The grand prize in the "Coop Bottari" contest, which solicited personal accounts of cooperative experiences, went to Baek Jae-eun, a member of the Siheung Hope Medical Welfare Social Cooperative.

In the afternoon, a policy conference was held under the theme "The Role and Tasks of Cooperatives in the Age of Social Solidarity Economy." Domestic experts discussed cooperatives' contributions to local communities and the role of cooperative federations, while Italian specialists introduced case studies on public-service procurement and cooperative network building. A policy exhibition, flea market and hands-on experience zone were also set up at the venue, allowing citizens to try cooperative products and services firsthand.


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