Abstract
This article explores an issue on legal personality of cooperatives under the Framework Act on Cooperatives (FAC) in the Republic of Korea. The FAC definescooperatives as “legal entity” and social cooperatives as “non-profit corporation”. This division led to considerable confusion in Korea in terms of the co-operatives’ practices between profit-making ones and non-profit ones, and it is necessary to resolve this juridical segmentation. This article traces background of FAC which created this legal segmentation and suggests the unification of both co-operatives as “cooperative entity” with the aim of allowing them to be certified or registered as “social cooperatives” when they yield high social value.
Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
