On the 28th, Theborn Korea, which had been declining early in the session, rebounded after CEO Baek Jong-won apologized.

Baek Jong-won, CEO of Theborn Korea, bows to greet at the regular shareholders' meeting held on the 28th at Space Share Gangnam Station in Seocho District, Seoul. /Courtesy of News1
Baek Jong-won, CEO of Theborn Korea, bows to greet at the regular shareholders' meeting held on the 28th at Space Share Gangnam Station in Seocho District, Seoul. /Courtesy of News1

According to the Korea Exchange, as of 11:31 a.m. on this day, Theborn Korea was trading at 29,250 won, an increase of 450 won (1.56%) from the previous trading day.

Although it started with a slight rise, Theborn Korea, which had been on a downward trend, turned upward following the regular shareholders' meeting held that morning. The stock price soared to 31,500 won after CEO Baek's apologetic remarks.

On this day, CEO Baek appeared at the meeting room 10 minutes before the start of the meeting, dressed in a dark navy suit. In his opening remarks, he said, “Despite the best performance since the founding, I deeply apologize to our shareholders for causing concern and disappointment due to the recent issues with origin labeling,” and added, “As a manager, I feel deeply remorseful for not managing more thoroughly.” This is the first time CEO Baek has officially apologized in front of shareholders.