Min Hee-jin, former CEO of ADOR, has directly addressed recent media reports targeting her.
On May 23rd, Min Hee-jin commented on the reports, stating, “Is this Dabo Link Season 2? LOL. No one will fall for such fiction anymore. The talent for grandly exaggerating trivial matters to make them seem significant is suspiciously similar to somewhere else. Instead of focusing on a private civil matter involving a regular person, why don’t you diligently investigate those under criminal investigation?”
She continued, “It seems like a reverse-viral marketing campaign started last week, right after my complete victory… such a cliché tactic. ㅉㅉ” and “Please remember the obvious fact that I also have the right to respond when you’re gathering information. Stop spreading false information and adhere to journalistic ethics.”
Min Hee-jin also announced that she would pursue civil and criminal charges regarding the false Dabo Link report and today’s report, adding, “I’m sick and tired of it. You’d be good at writing science fiction novels or soap opera scripts.”
Earlier that day, Dispatch reported, citing an insider, that Min Hee-jin was introduced to Ko Kazumachi, a prominent figure in the Japanese racing industry, and discussed investment opportunities. They also alleged that he led NewJeans’ Hong Kong “Pit Stop” concert, and that Bonnie Chan Woo, CEO of Complex China, inquired about selling NewJeans to HYBE, with Min Hee-jin’s involvement. The report also claimed that Min Hee-jin “wrote the script for NewJeans’ press conference and had the members memorize it in order to execute the termination of their contract.”
Previously, the 31st Civil Affairs Division of the Seoul Central District Court (Chief Judge Nam In-soo) held a hearing on May 12th regarding the lawsuit filed by HYBE against Min Hee-jin to confirm the termination of their shareholder agreement, and the lawsuit filed by Min Hee-jin against HYBE to claim stock trading proceeds related to the exercise of her put option. The court ruled, “HYBE’s claim is dismissed, and HYBE will bear the litigation costs. Furthermore, Min Hee-jin’s exercise of the put option is legitimate, and they must pay approximately 25.5 billion won.”
Subsequently, HYBE filed an appeal against the first instance ruling on May 19th.
Furthermore, Chairman Bang Si-hyuk is under police investigation for allegedly gaining approximately 190 billion won in illicit profits during HYBE’s IPO process. Bang Si-hyuk is accused of falsely telling existing investors in 2019, before HYBE’s IPO, that there were no plans for an IPO, and then allowing a private equity fund (PEF) established by an acquaintance to sell HYBE shares. It is reported that one of the three registered directors at the time of the PEF’s establishment was an acquaintance of Bang Si-hyuk. Bang Si-hyuk subsequently proceeded with the IPO, and financial authorities believe that Bang gained approximately 190 billion won in illicit profits, including receiving 30% of the sales margin from the private equity fund.
In connection with this, Bang Si-hyuk has been questioned by the police a total of three times.
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