Shinsegae Group Vice Chairman Chung Yong-jin's Instagram posts, which were expected to calm down after the controversy over "滅共 (myeolgong)" (eradication of communism), are increasing faster than ever. Three posts were posted only in the morning of Jan. 11.
Vice Chairman Chung posted an article on Instagram earlier in the day that said North Korea fired a ballistic missile into the East Sea and wrote "OO". It seems to have been replaced by "OO" instead of " 滅共 (myeolgong)." Netizens who support Vice Chairman Chung said in the post, "I'll write it for you." There is a 滅共 (myeolgong ) meaning "destruction of communism."
Vice Chairman Chung has been writing the phrase "滅共 (myeolgong)" on his Instagram since November last year. However, as the recent remarks on "滅共 (myeolgong)" spread to politics and Shinsegae Group's stock price faltered on Jan. 10, he said he would no longer make "myeolgong" remarks in the future.
As the controversy grew, especially in the political circle, Shinsegae shares fell 6.8% on the stock market on Jan. 11 from the previous trading day, and a number of articles were posted online claiming a boycott of Shinsegae Group affiliates such as Starbucks.
An official from Shinsegae Group said, "Vice Chairman Chung said he would no longer mention "myeolgong" because his remarks were interpreted politically."