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Namyang Dairy facing a new scandal concerning patent infringement

Namyang Dairy facing a new scandal concerning patent infringement
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SKorea dairy company CEO resigns over virus research scandal - New Delhi Times - India's Only International Newspaper

May 4, 2021
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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 its Bulgaris yogurt 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.

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Namyang Dairy chairman steps down after taking responsibility for false Bulgaris yogurt claim

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S. Korea dairy company CEO resigns over virus research scandal

S. Korea dairy company CEO resigns over virus research scandal
May 4, 2021 (Mainichi Japan)
Hong Won-sik, chairman of Namyang Dairy Products, wipes his tears during a press conference at the company's headquarters in Seoul, South Korea, on May 4, 2021. (Hwang Gang-mo/Yonhap via AP)
SEOUL, South Korea (AP) -- 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.

Seoul , Soult-ukpyolsi , South-korea , Pyongyang , P-yongyang-si , North-korea , Tokyo , Japan , United-states , India , China , Namyang

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

Article content
SEOUL — 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.
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S.Korean dairy boss quits over claim yogurt drink effective against COVID-19 Back to video
“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.

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

South Korean dairy boss quits over claim yoghurt drink effective against COVID-19
This content was published on May 4, 2021 - 05:10
May 4, 2021 - 05:10
By Heekyong Yang
SEOUL (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.

Seoul , Soult-ukpyolsi , South-korea , Namyang , Cholla-namdo , South-korean , Korea , Stephen-coates , Heekyong-yang , Korea-ministry-of-food , Namyang-dairy-product-co-ltd , Reuters

Dairy boss quits after claiming drink effective against Covid-19

File photo of Covid-19 testing
Photo: AFP
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 percent 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.

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South Korean dairy company CEO resigns over COVID misinformation scandal

South Korean dairy company CEO resigns over COVID misinformation scandal
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.
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Hong Won-sik, chairman of Namyang Dairy Products, wipes his tears during a press conference at the company's headquarters in Seoul. (Photo | AP)
By Associated Press
SEOUL: 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.

Seoul , Soult-ukpyolsi , South-korea , Namyang , Cholla-namdo , Ministry-of-food , Hong-won-sik , Namyang-dairy , Drug-safety , Lee-kwang-bum , Ovid-19

South Korea dairy company boss resigns over advertising claims that yogurt prevents COVID

South Korea dairy company boss resigns over advertising claims that yogurt prevents COVID
May 4, 2021 / 7:08 AM
/ AP
Quackery: A history of fake medicine and cure-alls

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 its Bulgaris yogurt 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.

Seoul , Soult-ukpyolsi , South-korea , Namyang , Cholla-namdo , Ministry-of-food , Hong-won-sik , Namyang-dairy , Drug-safety , Lee-kwang-bum , Coronavirus-disease-2019

The Latest: NKorea bows out of soccer matches, citing virus

The Latest: Germany eases some limits for those vaccinated
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1of36Harald Fischer gets a Moderna vaccination in a vaccination mobile on a square at the district Chorweiler in Cologne, Germany, Monday, May 3, 2021. The city of Cologne started a program to bring COVID-19 vaccination to people living in this neighborhood with a high corona incidence.Martin Meissner/APShow MoreShow Less
2of36FILE - In this April 27, 2021 file photo, European Commission President Ursula von der Leyen speaks during a debate on the EU-UK trade and cooperation agreement during the second day of a plenary session at the European Parliament in Brussels. The president of the European Union’s executive arm says a quarter of all EU residents have now received a first dose of coronavirus vaccine. “Vaccination is gaining speed across the EU: we have just passed 150 million vaccinations,” Ursula von der Leyen said in a message posted on Twitter. “(Olivier Hoslet, Pool via AP)Olivier Hoslet/APShow MoreShow Less

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