JavaScript is off. Please enable to view full site.

S.Korean dairy boss quits over claim yoghurt drink effective against COVID-19

Tuesday, May 04, 2021, 16:31 GMT+7
S.Korean dairy boss quits over claim yoghurt drink effective against COVID-19
Commuters cross a zebra crossing, amid the coronavirus disease (COVID-19) pandemic in Seoul, South Korea, February 3, 2021. Photo: Reuters

The chairman of a major South Korean dairy company stepped down on Tuesday after police launched an investigation into the company's assertion that its yogurt drink was effective in fighting the novel coronavirus.

Namyang Dairy Product Co Ltd Chairman Hong Won-sik's resignation came three weeks after the initial claim and its retraction. The sacking of the chief executive did little to calm a consumer backlash.

"I will resign from Namyang Dairy's chairman position to take responsibility for all of this and I will not pass on management to my children," Hong said in a televised public apology.

Hong and his family members have a combined stake of 53.1% of South Korea's No.3 dairy firm by revenue, according to Namyang's regulatory filings.

Officials at Namyang Dairy could not be immediately reached for comment.

Seoul police last week raided the company's headquarters.

The company claimed at a forum attended by reporters last month that its Bulgaris yogurt drink was effective in preventing COVID-19, sending its stock surging nearly 30%.

South Korea's Ministry of Food and Drug Safety subsequently issued a statement saying that Namyang had no evidence to support its claim, and accused the company of illegally spreading misleading information.

Namyang Dairy shares were up 16.3% versus the broader KOSPI's 0.5% decline as of 02:43 GMT.



Read more




Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Latest news

Cute Vietnamese habits

Fellow foreigners, kick back and enjoy, because the only thing that’s going to change is us