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On 2 March 2012, the NACF restructured its operations, establishing financial and marketing holding companies through the revised Agricultural Cooperative Law and a resolution of the board of directors on 2 February 2012.
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Recent international agreements have affected South Korean agriculture and by extension the effectiveness of the NACF.
These include the European Union–South Korea Free Trade Agreement, implemented in July 2011, and the Free trade agreement between the United States of America and the Republic of Korea, which took effect on 15 March 2012.
Total production by the agricultural sector in 2011 was KRW 44.62 trillion, up by 7.1% from 2010 (KRW 41.68 trillion) and including an 8.5% increase in the livestock and dairy sector.
Conversely, the Korea Rural Economic Institute (KREI) expects the total production of agricultural industries to decrease by 1.1% in 2012.
Its role is divided into three areas: marketing and supply, banking and insurance, and extension services.
Member cooperatives are democratically controlled, autonomous business groups, funded by member subscriptions rather than government financial investment.
The banking unit serves as an intermediary and facilitator, providing loan and deposit services for member cooperatives and engaging in other incidental businesses.
As of 2011, the total deposit is KRW 209 trillion and the total loan volume is KRW 146 trillion.
Requests for extensions are reviewed by the Federal Reserve and the FDIC and have been granted in limited instances.