'Bulgari Scandal' Hong Won-sik Chairman Resigns

"Won't Transfer Management Rights"
"Please Trust Again" Public Apology

Hong Won-sik, chairman of Namyang Dairy Products, is entering and greeting to make 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, at the main auditorium of Namyang Dairy Products headquarters on Dosan-daero, Gangnam-gu, Seoul, on the 4th. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Seungjin Lee] Hong Won-sik, chairman of Namyang Dairy Products, has stepped down from his position as chairman, taking responsibility for the 'Bulgaris incident.'

On the 4th, Chairman Hong held a public apology press conference at the main auditorium on the 3rd floor of Namyang Dairy Products headquarters in Gangnam-gu, Seoul, and bowed deeply at 90 degrees, saying, "I sincerely apologize to all the people who were disappointed and angered by the controversy surrounding our Bulgaris during this difficult time of COVID-19, as well as to our employees, agency owners, and dairy farmers who are suffering even more on the ground."

This public apology by Chairman Hong came 21 days after the occurrence of the 'Bulgaris incident.' On the 13th of last month, Namyang Dairy Products faced backlash after announcing that Bulgaris suppresses the COVID-19 virus.

Along with the boycott of Namyang Dairy Products, the Ministry of Food and Drug Safety filed a complaint against Namyang Dairy Products for violating the Food Labeling and Advertising Act. Namyang Dairy Products faced an unprecedented administrative sanction of a two-month suspension of operations at the Sejong factory, which accounts for 40% of production, and on the 30th of last month, the police even conducted a search and seizure at the headquarters.

Chairman Hong said, "When controversies such as the company's push-out incident in 2013, my nephew Hwang Hana's incident that caused social uproar, and online comments last year occurred, I should have taken a more proactive stance as chairman to apologize and take necessary measures, but I was very lacking," adding, "I will take responsibility for everything and step down from the position of chairman of Namyang Dairy Products," and "I will not pass on management rights to my children."

This content was produced with the assistance of AI translation services.