Global

South Korean dairy boss quits over declare yoghurt drink efficient towards Covid-19



  • The chair of Namyang Dairy Product resigned amid claims the corporate’s yoghurt can stop Covid-19.
  • The South Korean firm additionally earlier fired its CEO.
  • Police launched an investigation into the corporate.

The chair of a significant South Korean dairy firm stepped down on Tuesday after police launched an investigation into the corporate’s assertion that its yogurt drink was efficient in combating the novel coronavirus.

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Namyang Dairy Product Co Ltd Chair Hong Received-sik’s resignation got here three weeks after the preliminary declare and its retraction. The sacking of the chief government did little to calm a client backlash.

“I’ll resign from Namyang Dairy’s chairman place to take accountability for all of this and I cannot move on administration to my kids,” Hong stated in a televised public apology.

Hong and his members of the family have a mixed stake of 53.1% of South Korea’s No 3 dairy agency by income, based on Namyang’s regulatory filings.

Officers at Namyang Dairy couldn’t be instantly reached for remark.

Seoul police final week raided the corporate’s headquarters.

The corporate claimed at a discussion board attended by reporters final month that its Bulgaris yogurt drink was efficient in stopping Covid-19, sending its inventory surging almost 30%.

South Korea’s Ministry of Meals and Drug Security subsequently issued a press release saying that Namyang had no proof to help its declare, and accused the corporate of illegally spreading deceptive info.

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

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