Park Jeong Gyu, chairman of DAVOLINK, just lately held an interview with Tenasia to debate assembly with former ADOR CEO Min Hee Jin final 12 months.
That is the primary time the chairman has met with the press to elucidate the investment-related discussions he held with Min Hee Jin.
The press met Chairman Park in Seoul on January 7 and revealed that inventory costs have dropped ever since Min Hee Jin denied having met him.
In line with the chairman, he acquired Min’s funding provide in August final 12 months, with Mr. B, the uncle of NewJeans member A, serving as a mediator.
“On a Sunday in late August, I bought a name from Mr. B whereas I used to be enjoying golf. He stated I needed to meet him in the present day and that he would wait in entrance of my home. Listening to him, he requested me to speculate ₩5.00 billion KRW (about $3.43 million USD) to Min. This provide was so sudden, so I stated I couldn’t do it because it was an enormous threat and never one thing I might resolve straight away.
I met him the following day and made a counteroffer. I advised they take DAVOLINK as a substitute, as I believed we might safe sufficient funding funds by using the capital market. I made this choice in order that I might additionally make a revenue. Mr. B then known as Min and put her on speakerphone. However as quickly as she answered, she requested, ‘Did the whole lot go properly?’ This meant that she knew concerning the ₩5.00 billion KRW (about $3.43 million USD) funding proposal.”
— Park Jeong Gyu
The chairman and Min Hee Jin met in particular person on September 30. They met on the chairman’s home to debate investment-related issues concerning the right way to switch DAVOLINK.
Chairman Park additionally revealed that they mentioned plans to take NewJeans out of ADOR.
He defined that Min requested, “Do you suppose I can take NewJeans out from there?” To this, Park felt they must throw away the group first to take them out. He defined, “I suggested that if she leaves ADOR, the corporate’s worth will plummet and that solely then she might take NewJeans out.”
He additionally shared that throughout the three-hour dialog with Min, greater than 70% of the dialogue was about Min Hee Jin herself. A lot of the dialog was about her battle with HYBE and Bang Si Hyuk.
Once I heard her name Chairman Bang a ‘f*king pig’ in entrance of somebody she simply met, I believed, ‘This particular person isn’t it’. She didn’t have primary manners. Though I defined my plan, I felt it wouldn’t work out.
— Park Jeong Gyu
In the end, the funding settlement didn’t go as deliberate. The larger downside occurred after. He was pissed off at Min Hee Jin’s assertion that she had “by no means met with buyers”. It appears that evidently the inventory worth fell after the assembly between the 2 turned recognized to the funding trade. There have been additionally predictions that the tactic raised by Park was not a easy approach of receiving funding, which might have made it troublesome for Min to simply settle for.
Tenasia first interviewed Chairman Park late final 12 months. After the interview, we requested affirmation from Min Hee Jin.
We need to make it clear that Chairman Park Jeong Gyu’s claims about Min Hee Jin are false. Min has by no means mentioned funding plans with Park and has by no means proposed an funding.
— Min Hee Jin officers
With this, Tenasia met with Chairman Park once more for an extra interview to offer the fitting to object as each side have been making completely different claims.
Nonetheless, one a part of Min’s place that doesn’t appear to make sense is that she even denies that she ever met with Chairman Park. Many counsel that this might be because of obligation.
It’s because Min’s assembly with exterior buyers whereas being an inside director might be seen as a breach of belief. The dialog about taking out the members might additionally assist the suspicion of tampering.
In the meantime, HYBE filed a criticism towards former ADOR CEO Min Hee Jin final 12 months for breach of belief, and the investigation continues to be ongoing.
Dispatch Exposes Min Hee Jin’s Alleged Lies With Damning Images