Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
Nongshim hit for link with ex-Park aide
By Park Jae-hyuk
Kim Ki-choon, former presidential chief of staff
By Park Jae-hyuk
Nongshim faces a boycott after revelations that former presidential chief of staff Kim Ki-choon worked at the company as a non-executive legal adviser for a 10 million won ($8,500) monthly salary.
After resigning from Cheong Wa Dae in February last year, Kim was employed by the country’s representative food and beverage company in September this year.
Before his appointment as presidential chief of staff in 2013, Kim had worked at Nongshim for five years since 2008 because of his close friendship with Nongshim Chairman Shin Choon-ho, brother of Lotte Group founder Shin Kyuk-ho.
The Government Public Ethic Committee approved his employment this August, saying the presidential secretariat hardly had any relationship with Nongshim.
But some observers criticized the decision, which allows one of the most powerful figures of the Park Geun-hye administration to join a private enterprise during her five-year term, which will end in early 2018 if she manages to hold the top job.
The fact that Kim is wealthy also raised the ire of people amid high unemployment because of the economic slump. Kim’s wealth is worth almost 4 billion won.
Public sentiment has worsened over suspicions that Kim is deeply involved in the recent Choi Soon-sil scandal, although he claims he has never met President Park’s longtime confidant, who is believed to have illegally meddled in state affairs.
Due to the controversy, Nongshim said last Thursday that it would not renew Kim’s employment contract, which will run out in December, and Kim voluntarily resigned the same day.
However, such measures seem to be too late to soothe the angry public, and consumers have begun an online boycott of Nongshim products.
“You broke farmers’ hearts, but how could you join Nongshim?” asked an internet user surnamed Seong, reminding people that Nongshim means ‘farmer’s heart’ in Korean.
Another citizen surnamed Oh said, “The money I paid for Nongshim products must be in Kim’s pocket.”
Some consumers even suspect there has been a corrupt connection between Nongshim and Kim since 1989, when Kim was Public Prosecutor General.
Samyang Food ― Nongshim’s biggest rival ― was investigated at the time by prosecutors over suspicions of using toxic ingredients in its ramyeon, the country’s popular instant noodles.
Although Samyang was found innocent years later, sales collapsed and Nongshim reportedly benefited.