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Namyang Dairy Products Chairman Hong Won-sik offered his resignation Tuesday, after the company came under fire for the claim that its yogurt drink Bulgaris can help protect from COVID-19.
Hong, who took over the company from his father, the late founder Hong Doo-young, also said he will not hand over management rights of the company to his children.
“We have received much love from the public as the oldest private dairy company. But I failed to fulfill the expectations of the consumers, as I was not able to break away from outdated thoughts and worked only for the growth of the company,” Hong said in a press conference.
”I will resign from my chairman position to take responsibility for all those things. Also, management rights will not succeed to my children. I sincerely apologize for this belated decision.”
Basically the article talks about how Namyang Dairy claimed that their yogurt drink can effectively prevent covid-19, which caused its share to briefly spike after the announcement. However their claim was misleading as it was based on a study where its yogurt was directly applied to the virus and now the company is under investigation.
Source: The Korea Herald