Seoul, South Korea – Baek Jong-won, the prominent chef and CEO of The Born Korea, has issued a formal apology following a series of controversies surrounding the company's products and operational practices. The apology, released on the company's official website on March 13th, addressed concerns ranging from regulatory violations to product quality and misleading advertising.

"I deeply regret and sincerely apologize for the concerns and disappointments caused by the recent issues involving The Born Korea," stated CEO Baek. "We acknowledge that we have fallen short of expectations, particularly in our production and distribution processes, where unacceptable errors have occurred."

The controversies peaked this week when it was revealed that The Born Korea's Baekseok factory in Yesan-gun, Chungcheongnam-do, had been producing goods using imported ingredients within an agricultural promotion zone, a clear violation of the Farmland Act. The company admitted to a lack of awareness regarding the regulations and issued a formal apology.

Further scrutiny revealed discrepancies in product labeling and ingredient sourcing. The 'Paik Ham' product was criticized for its low pork content, while the mandarin orange beer was found to contain minimal amounts of the advertised fruit. Additionally, the company faced backlash for promoting a Brazilian chicken product in a video intended to support domestic agriculture and for unsafe cooking practices involving LP gas cylinders at its development institute.

These incidents have severely impacted public trust and investor confidence. The Born Korea, which went public in November of last year at an IPO price of 34,000 won, has seen its stock price plummet to around 29,000 won.

In his apology, CEO Baek pledged to take immediate corrective actions, including a thorough review of all legal and operational aspects of the company. "We are committed to swiftly rectifying all issues and implementing robust measures to prevent future occurrences," he asserted. "As a publicly traded company, we are dedicated to regaining the trust of our shareholders and the public through comprehensive reforms and sustainable growth."

The Born Korea has committed to enhance its compliance measures, improve product quality control, and ensure transparent communication with consumers. The company also announced plans to strengthen its ethical standards and promote responsible business practices.