Boss of South Korean cosmetics firm Kolmar quits after backlash over YouTube clip praising Japan’s conduct in ‘trade war’

The clip, played at a monthly meeting of some 700 employees of Kolmar Korea last week, slams President Moon Jae-in’s response to Japan’s trade regulations and praises Prime Minister Shinzo Abe for “not punching Moon in the face”.

The video also refers to Venezuela’s crippling economy, where “women are going into prostitution for a mere seven dollars”, and says that South Korea is not far from meeting a similar fate.

The incident triggered massive public fury and mounted calls to boycott the company, which supplies dozens of cosmetics brands worldwide.

Yoon Dong-han, chairman of Kolmar Korea, apologised on Sunday for “stirring up trouble” and said he will step down from his post.