Amid ongoing controversies and police investigations, Paik Jong-won, CEO of Theborn Korea, announced a suspension of broadcasting activities, stating regarding the return to broadcasting that "it could be considered when the stock price has significantly recovered."
According to Yonhap News on the 7th, Paik told reporters after a two-hour meeting with a franchise owner of Bbaekdabang that he had "no desire to broadcast" when asked about his return to television.
Paik noted, "Right now, I'm really not thinking about broadcasting. Broadcasting depends on (the situation). I'm not originally a broadcaster," adding, "When the company is on the right track and it's obvious to anyone that Theborn's future looks good, that's when I will think about growth."
Currently, Paik is preparing additional support funds beyond the 5 billion won allocated for three months of royalty exemption and ingredient discounts for franchise owners, intending to use the funds for marketing and new menu development.
Paik stated, "I issued a statement the day before and promised comprehensive support for franchise owners. Due to recent issues, there will be backlash affecting the franchise owners, and it cannot be resolved with a small amount of money," adding that he made a significant decision to ensure that the franchise owners can withstand the challenges.
He continued, "Since I've already suspended broadcasting, ultimately, my job is to meet with franchise owners and reorganize the brand," and added, "Next, since the overseas market is good, I will be busy promoting the sauces abroad."
Regarding issues such as labeling errors, Paik mentioned, "Problems that didn't exist offline have moved online, leading to incorrect labeling about the origin," and noted, "We are working on correcting this, and there will be several blind spots to address in order to enter the overseas market, but in some ways, these are issues we had to go through."
He added, "Based on my past experiences, there has often been growth after going through such major events," and recalled, "During the International Monetary Fund (IMF) financial crisis, we went bankrupt but the company grew this much. If we hadn’t taken measures beforehand, we could have received tremendous complaints when going overseas, potentially shaking the company or even leading to its downfall, but I think it turned out well."
When asked about the accusations that have been raised, Paik replied, "All raised allegations, including personal issues and mistakes, must be explained to resolve the suspicions from outside."