UPDATE : Friday, May 29, 2020
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Kolmar CEO steps down, apologizes for controversial video
  • By Lee Han-soo
  • Published 2019.08.12 11:11
  • Updated 2019.08.12 15:19
  • comments 0

Kolmar Korea CEO Yoon Dong-han, the owner of the nation’s largest manufacturer of cosmetic products, announced his resignation and apology on Sunday for showing a controversial video praising Japan to employees last week.

Kolmar Korea CEO Yoon Dong-han apologizes for showing a controversial video praising Japan to his employees, at the company office in Seocho-gu, southern Seoul, on Sunday.

During a news conference at Kolmar Korea’s new headquarters in Seoul, Yoon apologized to the public and said he would personally take responsibility by resigning his management post.

“I sincerely apologize to the customers who suffered from my wrong actions and those who trusted and loved our products,” Yoon said. “Please scold me for my mistakes, but do not extend my wrongdoing to our hard-working employees.”

The company has come under fire after some of its employees accused their CEO of playing a video made by a far-right YouTube user, which denounced the government’s response to the Japanese decision to remove South Korea from the list of trusted trading partners.

According to the employee, the YouTube video included comments such as “Abe is a great leader because he refrained from punching Moon Jae-in in the face while talking to him,” and “With the current economic status, Korean women will soon have to resort to prostitution to make a living like in Venezuela.”

Despite releasing an immediate apology, the company’s shares plunged and hit the lowest point of this year at 47,750 won ($39.4) on Friday, a 4.88 percent decrease from the previous trading day. The company also faced a boycott movement from the public.

Due to Yoon’s abrupt resignation, Co-CEO Kim Byung-mook will serve as the company’s head.


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