Wall Street Surges as Meta Leads AI Rally, Oil Prices Fall 
Petrobras Joins Brazil’s New Diesel Subsidy Program 
Strait of Hormuz Oil Shipments Hit Six-Month High as U.S. Clears Mines 
Oil Prices Rise as Houthi Strikes on Riyadh Fuel Middle East Tensions 
NASA, Boeing Discuss Expanding Starliner Missions 
Mexico Pushes for US Trade Deal Before Midterms 
Trump Bans CNN, MS NOW and Politico From White House 
Allegro Raises 2026 Outlook as International GMV Surges 
Prysmian, Rio Tinto Supply Low-Carbon Cables for Amazon Ohio Data Center 
Gold Prices Rise as Oil Slump Eases Fed Rate Hike Fears 
Volvo Cars Plans 13 New Models by 2030 to Boost Sales 
Trump Plans Federal AI Force and AI Czar 
Europe Jet Fuel Deficit Drives South Korean Imports to Four-Year High 
US, Japan and South Korea Back Taiwan Ahead of Trump-Xi Summit 
Canada Eyes India Trade Deal by Year-End 
Add as a preferred source on Google
Namyang Dairy has been involved in a big controversy lately, and the issues just keep getting bigger. The company also incurred further damage as an investigation was launched after it made a controversial claim regarding COVID-19 and its Bulgaris yogurt.
As reported by Maeil Kyeongje, Namyang Dairy’s chairman Hong Won Sik offered to step down on Tuesday, May 4, for causing a scandal over the effects of its yogurt product on preventing COVID-19. The company previously stated at a conference that its Bulgaris brand is effective in stopping coronavirus symptoms.
Company chairman’s sad departure
Hong resigned, and in his speech, he vowed not to pass over the management of Namyang Dairy to his children. He also took full responsibility for the unproven COVID claim.
“I am stepping down from the chair position at Namyang Dairy Products to take full responsibility for all the controversies,” he said via a press conference that was held at the firm’s headquarters in Seoul.
The chairman also solemnly apologized to “the people, employees, wholesalers and milk farmers” for the disappointments Namyang had caused due to the Bulgaris claims that were announced while the people were going through the hard times.
Hong Won Sik bowed his head deeply and had shed tears during his speech, and asked the public to still trust the company despite what happened. “I plead with the people to put faith back in Namyang as employees will do their best to revamp the company,” the 71-year-old businessman said.
CEO also resigned, and criminal investigation
Namyang Dairy is facing criminal investigation and administrative penalty after claiming that Bulgaris yogurt can stop COVID-19. This was announced during a corporate symposium where people from the press were invited.
CEO Lee Kwang Bum also resigned before Hong Won Sik did, and he already vacated his post on Monday. The Korea Times noted that the decision to resign came just two days after the authorities conducted a raid at Namyang Dairy’s offices as the investigation for announcing a false claim about its yogurt product.
