The primary replace of the HYBE/ADOR mess in 2025 comes on account of information tied to the final replace. Following rumors that Min Hee Jin had ties to DAVOLINK in an try to seek out NewJeans a brand new touchdown place, the chairman of the corporate himself (Park Jeong Gyu) has now confirmed the hypothesis, because the mess continues rolling downhill unabated.
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Min Hee Jin’s involvement with the corporate allegedly dates again to August of final 12 months after she was eliminated as ADOR CEO, because the chairman says that the uncle of NewJeans’ Hyein served as mediator and he heard her on speakerphone.
“On a Sunday in late August, I acquired a name from Mr. B whereas I used to be enjoying golf. He mentioned I needed to meet him at present 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 mentioned I couldn’t do it because it was a giant threat and never one thing I may determine immediately.
“I met him the subsequent day and made a counteroffer. I prompt they take DAVOLINK as an alternative, as I believed we may safe sufficient funding funds by using the capital market. I made this determination in order that I may 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 effectively?’ This meant that she knew in regards to the ₩5.00 billion KRW (about $3.43 million USD) funding proposal.”
The chairman then says he met with Min Hee Jin on September 30 to debate switch DAVOLINK, and that within the assembly they mentioned whether or not he thought she may take NewJeans out of ADOR.
He defined that Min requested, “Do you assume 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 may take NewJeans out.”
He says the convo was three hours and most of it was about Min Hee Jin’s battle with HYBE and Bang Si Hyuk, together with her allegedly calling him a “fucking pig”.
Regardless, clearly the funding didn’t undergo. Nevertheless, when Min Hee Jin denied that she by no means met with an investor, the inventory of the Davolink fell as a result of rumors and triggered the chairman to take monetary losses. The rub on the inventory stuff is that Davolink is purported to have leaked the rumors themselves in August to spice up inventory costs (with Lee Jae Myung as effectively, allegedly), and it certainly tripled since then, no less than earlier than the aforementioned denial occurred.
When TenAsia’s first interview with the chairman occurred “late final 12 months”, they requested remark from Min Hee Jin, who flatly denied it.
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.
That is the follow-up interview with the chairman given on account of their conflicting stances, and Min Hee Jin’s facet has denied it as unfaithful once more, although with out particulars as of but.
The reporter speculates that the rationale she is denying it utterly is that discussing this whereas nonetheless being inside director at ADOR may have ramifications for HYBE’s breach of belief lawsuit in opposition to Min Hee Jin, to not point out potential tampering with NewJeans.
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Whereas I’ve no drawback believing that the motives of an organization chairman may very well be grasping and that they had been leaking stuff for their very own monetary profit, I don’t assume that’s actually the core of the difficulty. The corporate could be shady, however the query is whether or not any assembly occurred and whether or not she certainly mentioned plans for taking NewJeans out whereas nonetheless working at ADOR. There’s an image of her coming into the constructing allegedly on September 30, so I don’t assume a blanket denial is gonna reduce it, particularly if it comes up in courtroom the place this may actually matter. If her facet doesn’t clarify additional, then I suppose we’ll simply need to see what comes out legally (which is form of what I’ve been saying for some time now, however I digress).