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Jongwon Baek The Bon Korea CEO attended his first shareholders' meeting since the listing and bowed 90 degrees to franchisees and shareholders. Baek apologized for the controversy over Dubon Korea and stressed that he would make up for the shortcomings in the business as soon as possible.

CEO Baek appeared at the first shareholders' meeting held at the SpaceShare Gangnam Station Center in Seocho-gu, Seoul at 10 a.m. that day. Until the previous day, it was unclear whether representative Baek would attend the general meeting, but he took the mound as the chief executive on the same day to explain and apologize for the controversy.

"As a manager, I am deeply reflecting on the fact that I have not managed it more thoroughly," CEO Baek said in his greeting at the general shareholders' meeting. "With this incident, we are re-examining the company's internal system from the ground up."

"Despite the best performance since its establishment, we deeply apologize for causing concern and disappointment to shareholders due to the recent problem of marking the country of origin," he said.

He then promised, "We will strengthen the management system of the country of origin and cooperate with external experts to increase transparency and establish an effective internal monitoring system."

This is the first time CEO Baek has officially apologized. Earlier, Dubon Korea faced a series of risks due to false labeling of the country of origin, lack of product content, and "backham price controversy." However, CEO Baek only explained through YouTube content or posted an apology on the website, but did not open his mouth directly.

After the shareholders' meeting, CEO Baek bowed to reporters at 90 degrees.

"I think the first shareholders' meeting after listing is a celebration day, but I can't party," he said. "What's happening can be said to be small, but I don't think so. Everything is caused by our lack of preparation," he said.

"I won't reveal everything just by looking at it all of a sudden, but I think it's our fault even if there's something wrong and there's a misunderstanding," he said. "I thought only performance and sales were important, but that was the wrong idea. We will correct the deficiencies," he stressed.

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Baek has repeatedly apologized to franchisees and shareholders.

He said, "The franchise owners suffered a lot from this opportunity. The store owners silently trusted the headquarters and worked hard, but this incident made them suffer, he said, adding, "The store owners did not show any signs of being a big help to the headquarters." The relationship between the headquarters and the franchisees is like a family. In the future, we will find a way to communicate well with store owners and consumers," he said.

He also said, "I'm sorry to shareholders that the first shareholders' meeting should be a feast, but I can't," adding, "We'll work hard again with an organization that fits the size you're expecting."

CEO Baek said he would open up various business possibilities, such as expanding the organization and the number of people and strengthening communication channels.

Asked whether he had plans to boost stock prices, he said, "Stock price stimulus is not up to him. We will focus on making good sales and making profits, he said. "In particular, we are doing a lot of business promoting Korean food overseas, and we will also strengthen that part. First of all, we will try to make sure that the company grows well and produces a lot of sales," he stressed.

Regarding "whether to form a public relations organization," he said, "We need to create a public relations team. I thought it would be better to do more research if it costs to create a public relations team within the company, but it wasn't like that, he said. "We can look back on Dubon Korea from the outside through public relations."

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Regarding the "plan to increase the number of supervisors and others," he said, "We need to increase the number of supervisors and others, but if we increase the number of people recklessly, there is a possibility that the cost burden will eventually be transferred to stores," and added, "We are leaving open the possibility."

CEO Baek also mentioned the possibility of using a promotional model. He replied, "I don't mean to do so for sure, but I'm opening up that possibility."

Regarding Dubon Korea's M&A plan, he said, "We can lower the production unit price if we buy a factory or produce our own production, but there are some areas that we need to consider socially," and added, "We are thinking about ways to live together."

He also mentioned CEO Baek's own philosophy on reviving the region. "We are revitalizing with local festivals, and the region is in a slump due to various issues related to us recently, but I hope so," he said. "Even if we are criticized, we want to help revitalize the region in a situation where safety is guaranteed instead."

Some feared that the shareholders' meeting would be a denunciation for shareholders, but such an atmosphere was not formed.

From the outside, the chief secretary lasted for about an hour in a relatively quiet atmosphere. Shareholders who attended the shareholders' meeting did not raise their voices or show anger.

A shareholder who attended the shareholders' meeting said, "The shareholders were not very angry. "It was a calmer atmosphere than I thought," he said. "CEO Baek said at the general shareholders' meeting that he would work hard."