E-Mart Shares Rebound as Boycott Backlash and Political Debate Spread Online While Chung Holds Press Conference on May 26, Accepting Responsibility and Urging Leniency Toward Store Employees
Shinsegae Chairman Chung Yong-jin held a press conference at the Josun Palace Hotel in Gangnam District, Seoul at 9 a.m. on May 26 and issued a public apology. Chairman Chung said, “As the chairman of Shinsegae Group, I sincerely bow my head and apologize to the bereaved families of the May 18 Democratization Movement, the bereaved families of martyr Park Jong-chul, the citizens of Gwangju, and the public who felt deep hurt and disappointment because of this incident.”
He continued to explain, “The reason the announcement of the investigation results was delayed was to provide a detailed account of the circumstances through a thorough fact-finding investigation,” and added, “I ask for your generous understanding.”
Chairman Chung emphasized that he is taking seriously the fact that many people felt deep pain and anger due to Starbucks Korea’s marketing. He stated, “Regardless of the reason, the responsibility for hurting the hearts of the public is by no means light,” and added, “I will not make any excuses. All responsibility for this incident lies with me. It is my fault.”
However, Chairman Chung requested restraint from criticizing Starbucks Korea partners and field employees working at stores nationwide. He said, “There are countless Starbucks Korea partners and field employees who are silently working at stores across the country even now,” and added, “I ask that you please look upon them with a slightly warmer perspective.”
He added, “These people are simply diligent office workers doing their best in their positions from early morning until late at night for each and every customer,” and stated, “The responsibility lies with the organization and the management, including myself.”
Meanwhile, as Chairman Chung stepped forward to directly apologize regarding the Starbucks Korea ‘Tank Day’ controversy, E-mart’s stock price is showing a rebounding trend in early trading. The apology and the movement to use Starbucks in the right-wing camp also appear to have partially reversed the worsened investor sentiment.
This controversy erupted when Starbucks Korea used phrases such as ‘Tank Day’ and ‘Thump on the desk’ while holding a tumbler product discount event on May 18. Criticism was raised online that the expressions are reminiscent of the May 18 Gwangju Democratization Movement and the torture and death of martyr Park Jong-chul in 1987. Shinsegae Group subsequently dismissed Starbucks Korea CEO Sohn Jeong-hyun and the executive in charge, and has initiated disciplinary procedures against related executives and employees.
When President Lee Jae-myung publicly criticized Musinsa’s past advertisement in relation to Starbucks Korea’s ‘Tank Day’ controversy, some conservative figures consecutively stepped forward to defend the two brands. As arguments claiming “we should patronize them more” emerged against the boycott movement, the corporate marketing controversy is spreading to the political sphere and online. In particular, right-wing YouTuber and lawyer Kang Yong-seok asked in a YouTube live broadcast on May 20, “Starbucks and Musinsa are representative brands heavily used by the 2030 generation, and wouldn’t they have used the controversial phrases because they were widely used as parody or humor material?” and questioned, “Would they have used them to mock?” He continued, “Rather, we should patronize Starbucks and Musinsa more. The more Lee Jae-myung attacks, the more we should do so.”
According to the Korea Exchange, as of 9:29 a.m. on May 26, E-mart is being quoted at 91,600 won, up 1.22% (1,100 won) compared to the previous trading day (90,500 won). On this day, E-mart started trading at 91,700 won and jumped to 92,600 won during the session.
Choi Mun-hee
댓글
0