CEO resigns over deception

The chairman of one of South orea’s biggest dairy companies has resigned after his company was accused of deliberately spreading misinformation that its yogurt could help prevent COVI 19.

Hong Wonsik and other members of his family will still retain their commanding share of Namyang airy Products.

Namyang financed research it aggressively promoted through the media and a symposium last month that claimed that its “Bulgaris” yogurt drinks were proven as effective in lowering risks of coronavirus infections.

Namyang’s stock prices temporarily rose before South orea’s Ministry of Food and rug Safety sued the company for false advertising, saying that the research was dubious and never involved any animal testing or clinical trials.