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Lessons from Namyang fiasco

Lessons from Namyang fiasco
No company can survive without consumers' confidence
Namyang Dairy Products Chairman Hong Won-sik offered to resign Tuesday, apologizing for causing controversy over false claims about the anti-viral effects of the company's yogurt drink, Bulgaris. In a press conference at the company headquarters in southern Seoul, he also vowed not to hand over management of the company to his children.
Hong's resignation came three weeks after Namyang's research chief claimed in a symposium that Bulgaris reduces the chance of COVID-19 infections by 78 percent. Following the announcement, the company's shares soared and the yogurt drink sold out in many retail stores.

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