The nominations of four directors chosen by Hahn & Company were voted down by shareholders of Namyang Dairy Products Tuesday.
Namyang Dairy Products Chairman Hong Won-sik has formally scrapped the takeover of the company he leads and controls, informing the buyer that the deal is off.
Namyang Dairy Products Chairman Hong Won-sik apologizes at a press conference held on May 4 after the company came under fire for a claim that its Bulgaris yogurt drink protects against Covid-19. [JOONGANG PHOTO]
The former chairman of Namyang Dairy Products has sold all his shares in the company following much criticized claims that the Bulgaris yoghurt drink protects against Covid-19.
Korean Air Lines is unloading its in-flight businesses to a private equity investment group as part of its restructuring effort.