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S. Korea Dairy Company CEO Resigns Over Virus Research Scandal

Associated Press

   SEOUL, SOUTH KOREA - The chairman of one of South Korea's biggest dairy
   companies has resigned over a scandal in which his company was accused
   of deliberately spreading misinformation that its yogurt helps prevent
   coronavirus infections.

   While stepping down as the company's head, Hong Won-sik and other
   members of his family will retain their commanding share in Namyang
   Dairy Products.

   Namyang financed research it aggressively promoted through the media
   and a symposium it funded last month that claimed itsBulgarisyogurt
   drinks were effective in lowering the risk of coronavirus infections.

   Namyang's stock price rose temporarily before the Ministry of Food and
   Drug Safety sued the company for false advertising, saying the research
   was dubious and never involved any animal testing or clinical trials.

   Police searched Namyang's Seoul headquarters last week. Namyang's CEO,
   Lee Kwang-bum, also offered to resign following a public uproar.

   "I express my sincere apology for causing disappointment and anger to
   our country's people with theBulgaris-related controversy at a time
   when the nation is undergoing a hard time because of COVID-19," Hong
   said, tearing up. He said he will take "all responsibility" by stepping
   down as chairman and promised not to pass on management rights to his
   children, which is a much-criticized practice at South Korea's
   family-owned businesses.

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