Liquidation of Purmil blamed on CEO's incompetence
Purmil CEO Shin Dong-hwan, second son of company founder Shin Jun-ho, took office in 2018, which is when Purmil started to see its business performance decline. The dairy firm showed 257.5 billion won ($180.5 million) in sales for 2017, but sales decreased every year to reach 180 billion won as of last year.
Source: koreatimes.co.kr