The bill for the revision of the Agricultural Cooperative Law, a special law, on which the National Agricultural Cooperative Federation (NACF) was established, was finally passed at the Korea’s National Assembly on March 11, 2011. The bill had been submitted to the National Assembly in December 2009 after several open hearings and discussions by the Ministry for Food, Agriculture, Forestry and Fisheries but failed as the majority and minority political parties disagreed on the details. Once, however, it is promulgated, the new law will take effect from March, 2012.