Starbucks Korea CEO Dismissed Following Controversial 'Tank Day' Marketing Campaign

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The CEO of Starbucks Korea, Sohn Jeong-hyun, has been terminated after a marketing campaign titled 'Tank Day' sparked significant backlash for its insensitivity towards the Gwangju Uprising of 1980. The campaign, which coincided with Democratisation Movement Day, was criticized for evoking painful memories of a military crackdown that resulted in numerous deaths. In response to the public outrage, including condemnation from South Korean President Lee Jae Myung, Starbucks Korea has issued an apology and withdrawn the campaign. The incident has also impacted the stock performance of Shinsegae Group, which owns a majority stake in Starbucks Korea, leading to a 5.5% drop in shares. Starbucks Global has initiated an investigation and committed to enhancing internal controls to prevent similar issues in the future.
Key Details: • Sohn Jeong-hyun was fired following the 'Tank Day' campaign launch on Monday. • The campaign coincided with Democratisation Movement Day, marking the Gwangju Uprising. • Public figures, including the South Korean President, have demanded apologies from Starbucks. • Shinsegae Group's shares fell by 5.5% after the controversy. • Starbucks Global has begun an investigation into the incident.