SEOUL, Nov. 18 (Korea Bizwire) — Prosecutors questioned a former chairman of a major South Korean dairy company Monday as part of an investigation into allegations he embezzled company funds for personal use. Hong Won-sik, former chairman of Namyang Dairy Products Co., underwent the questioning at the Seoul Central District Prosecutors Office, officials said. Hong [...]
SEOUL, Nov. 19 (Korea Bizwire) — South Korea’s No. 2 dairy company, Namyang Dairy Products Co., said Friday that its controlling shareholders — Chairman Hong Won-sik and his family — have signed a deal to sell the company’s management rights and majority stake to mid-sized local business group Dayou Winia Group. Namyang said the sale [...]
SEOUL, Sept. 1 (Korea Bizwire) — The sale of South Korea’s No. 2 dairy firm Namyang Dairy Products Co. fell through Wednesday as it renounced a contract to sell a controlling stake. Three months earlier, Namyang Dairy Products Chairman Hong Won-sik and his family signed a deal with local private company Hahn & Company to [...]
SEOUL, July 1 (Korea Bizwire) — Namyang Dairy Products Co. has issued a formal apology for slandering its rival Maeil Dairies Co. in 2019. The company posted a letter of apology on its corporate website on Tuesday. In 2019, Namyang Dairy Products hired an advertisement agency to post malicious and slandering comments against Maeil Dairies [...]
SEOUL, May 4 (Korea Bizwire) — The embattled chairman of Namyang Dairy Products Co. on Tuesday offered to resign from the post as he apologized for causing a misunderstanding about the company’s popular yogurt drink, with claims that it can prevent COVID-19 infections. “I will step down from the chairmanship by taking all the responsibility,” [...]
SEOUL, April 21 (Korea Bizwire) — Police are investigating a major dairy company over its disputed claim that one of its products is effective in preventing coronavirus infection, police officials said Wednesday. The Ministry of Food and Drug Safety has recently filed a complaint against Namyang Dairy Products Co. for allegedly exaggerating the result of [...]
SEOUL, April 19 (Korea Bizwire) — Namyang Dairy Products Co., a major South Korean dairy firm, is facing a strong backlash after claiming that its product can help control the novel coronavirus. In a symposium held on Tuesday, the company suggested that its Bulgaris yogurt drink was identified as being capable of killing the virus [...]