Jongwon Baek The Bon Korea CEO stood in front of shareholders at his first regular shareholders' meeting since the listing. Stocks are rebounding in the afternoon as they apologized for the controversy and reaffirmed their willingness to boost stock prices.
According to the Korea Exchange on the 28th, shares of Dubon Korea were trading at 29,850 won as of 1:57 p.m., up 3.65% (1,050 won) from the previous trading day.
On the same day, Dubon Korea held its first regular shareholders' meeting since its listing. At the meeting, CEO Jongwon Baek said, "As a manager, I am deeply reflecting on the fact that I have not managed it more thoroughly," adding, "With this incident, we are re-examining the company's internal system from the ground up."
CEO Baek said in a greeting, "Despite the best performance since its establishment, we deeply apologize for causing concern and disappointment to shareholders due to the recent issue of marking the country of origin," adding, "We will strengthen the country of origin management system and cooperate with external experts to increase transparency and establish an effective internal monitoring system."
This is the first time CEO Baek has apologized to shareholders. On top of that, CEO Baek also expressed his willingness to boost stock prices.
"We are developing a lot of overseas businesses," he said. "We will try to promote Korean food overseas and make the company grow, and we will make sure to make a lot of sales and profits and reinforce what I missed."
Dubon Korea was listed on the stock market on Nov. 6 last year. Since then, it has been rumored for about two months, starting with the controversy over the quality of "Backham" raised at the beginning of the year, allegations of violations of the farmland law, errors in marking the origin of its products such as soybean paste, the "employee blacklist" bulletin board operated at the online cafe of Saemaul Restaurant, and the use of pesticide sprayers.
