After the Central Cooperative Association launched a deposit and withdrawal product to manage local government subsidies, it has signed its first business agreement in Namhae County, Gyeongnam Province. According to the Central Cooperative Association, Namhae County signed a business agreement with Namhae County Cooperative to expand the financial institutions for local subsidy dedicated accounts beyond the existing county credit union and the cooperative (photo). The agreement ceremony held at the Namhae County Office was attended by Namhae County Mayor Jang Chung-nam, Namhae County Cooperative Chairman Kim Cheol-beom, and related officials from the Namhae County Office and the Namhae County Cooperative. Until now, local governments could only open local subsidy dedicated accounts at contracted savings banks and credit unions. Businesses receiving local subsidies could also only use savings bank and credit union accounts for almost all their operations.