Cho Seong-hwan, CEO of Joyworks (holding company Joyworks&Co.), the domestic distributor of the running shoe brand "Hoka," said he would step down as chief executive over a recently raised assault controversy.
In an apology released on the 7th, Cho said, "I bow my head in sincere apology for causing great anger and disappointment to many people due to my inappropriate behavior," adding, "This incident is entirely my personal fault and my mistake that cannot be justified."
Cho said, "I fully understand that the use of physical force cannot be justified for any reason, yet I failed to control my emotions in the moment and committed an irreparable wrong," adding, "I sincerely apologize to those who were hurt by my rash behavior."
Cho said he would take full responsibility for this matter, resign as CEO, and completely step down from front-line management. He noted, "What is most painful and shameful is that my single wrongdoing has made even our executives and employees targets of criticism," adding, "It is devastating that employees who love running and outdoor activities more than anyone else have had to bow their heads solely because of my mistake."
He also added, "I earnestly ask that our partner companies and executives and employees who have worked with us do not suffer any further damage due to my personal wrongdoing," and "Once again, I sincerely apologize."
Earlier, Cho was accused of summoning subcontractor officials to an abandoned church building in Seongsu-dong, Seongdong-gu, Seoul, slated for demolition, and subjecting them to verbal abuse and assault. Cho was reported to have repeatedly asked them questions such as "Do you know me?" and "What do you know about me?" while shouting, slapping them, and striking their bodies. The victims were said to have received medical assessments for injuries including rib fractures and concussion symptoms.
In response, Cho's side said an argument began as a warning because subcontractor officials spread false information, and it later escalated into a mutual assault. Cho claimed he himself received a medical assessment indicating four weeks of recovery.