Vita 500: unlikely winner in Sung graft scandal

Prime Minister Lee Wan-koo is featured in a parody of a Vita 500 commercial, ridiculing Lee over allegations that he received 30 million won in 50,000 won notes in a box of the drink from Sung Woan-jong, the late former chairman of Keangnam Enterprises. / Captured from Internet

By Lee Hyo-sik

A vitamin drink has become a best-selling item after a deceased businessman confessed to allegedly delivering cash in the drink’s packing box to Prime Minister Lee Wan-koo.

Since the revelation made national headlines on Wednesday, the sale of Vita 500 has been soaring nationwide, making its producer, Kwang Dong Pharmaceutical, an unlikely winner in the escalating graft scandal involving Sung Woan-jong, the late chairman of Keangnam Enterprises.

According to convenience stores and other retailers Friday, sales of Vita 500 have surged more than 40 percent since the news broke on April 15.

CU, Korea’s largest convenience store chain, said its sales of Vita 500 soared 42.2 percent Wednesday. Its sales at 7-Eleven convenience stores also rose 42 percent from the previous day. Another convenience store chain, GS25, saw its Vita 500 sales increase 22.4 percent from a week earlier.

“We cannot say that a sudden spike in Vita 500 sales has nothing to do with the ongoing graft scandal,” said an official at one of the three convenience store operators. “In line with growing public interest in the bribery scandal, items that have something to do with those involved naturally attract a great deal of public attention. But the current hype will not likely last long.”

Kwang Dong Pharmaceutical said growing public attention of Vita 500 had nothing to do with the company, saying that it was not in a position to comment on the matter.

On April 15, a local daily reported that Sung gave 30 million won ($27,000) in 50,000 won notes in a cardboard box that had contained 10 100-milliliter bottles of Vita 500 to Prime Minter Lee during a National Assembly by-election campaign in April 2013.

With the unexpected sales boom, Kwang Dong shares have been bullish. On Wednesday, the share price jumped 2.41 percent, or 350 won, to 14,000 won. The stock continued its ascent Thursday, rising 3.36 percent to 15,400 won. On Friday, it closed flat at 15,400 won.