Full Apology Letter from Hong Won-sik, Chairman of Namyang Dairy Products, on the 'Bulgaris Incident'

Hong Won-sik, chairman of Namyang Dairy Products, is shedding tears while issuing a public apology regarding the recent controversy caused by the announcement that the company's dairy product, Bulgari, has an effect on suppressing COVID-19. The apology took place on the 4th at the main auditorium of Namyang Dairy Products headquarters on Dosan-daero, Gangnam-gu, Seoul. Photo by Kim Hyun-min kimhyun81@

First, I sincerely apologize to all the people who were disappointed and angered by the controversy surrounding our company's Bulgari during the difficult times of COVID-19, as well as to our employees, dealers, and dairy farmers who are going through even more painful and challenging days on the ground.

As the oldest private dairy company in Korea, we have been loved by the public, but as I focused solely on the company's growth, I failed to break free from outdated ways of thinking and did not meet the expectations of our consumers.

In addition, I would like to express my reflections on the various major and minor controversies that have disappointed the public.

When controversies such as the company's push-out incident in 2013, my nephew Hwang Hana's incident that caused social unrest, and online comment controversies last year occurred, I should have taken a more proactive stance as chairman to apologize and take necessary measures, but I was lacking.

I take full responsibility for all of this and will step down from my position as chairman of Namyang Dairy Products. I will not pass on management rights to my children. I sincerely apologize for the delay in making this decision due to efforts to resolve the recent situation.

I am truly sorry for causing disappointment and concern to Namyang dealers who are struggling due to consumer rejection caused by my shortcomings, as well as to the Namyang Dairy Products employees who are quietly doing their best in their roles.

Since all faults originated from me, I earnestly ask that you withdraw your cold gaze toward the Namyang Dairy Products family who have quietly worked hard to repay the public's love with good products, taking my resignation as an opportunity.

Please trust and support our employees once again, who will create a new Namyang through painful innovation.

Thank you.

May 4, 2021 Chairman Hong Won-sik, Namyang Dairy Products

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