Claims have resurfaced that former Ador CEO Min Hee-jin met with external investors to take NewJeans out.
According to TenAsia on the 9th, the media released an interview with Park Jeong-kyu, chairman of Davolink, along with reports that former CEO Min met with investors to take NewJeans out. Previously, former CEO Min denied the allegations of contact with external investors, but Chairman Park countered, saying it was 'a blatant lie.'
Chairman Park stated that B, the uncle of NewJeans member A, asked Min Hee-jin to invest 5 billion won. In response, Chairman Park said the risks were too great for an investment, and proposed creating a structure by taking over Davolink. Chairman Park claimed, 'B called Min Hee-jin in front of me and asked, “Did you get to speak with your father?” This means he was aware of the 5 billion won investment proposal.'
Chairman Park revealed that he personally met with former CEO Min in September of last year and stated that Min first asked, 'Can I take NewJeans out?' According to Park, Min spoke for over 70% of the 3-hour conversation, much of which was complaints about Bang Si-hyuk, chairman of HYBE. Park added, 'I thought, “This person is not right,” when he badmouthed Chairman Bang by calling him “pig XX” in front of someone he had just met.'
The investment between Chairman Park and former CEO Min ultimately did not materialize. In the interview, Chairman Park emphasized that Min denying ever meeting with him not only made her a liar but also led to a decrease in stock prices. According to the media, in relation to this claim, the side of former CEO Min Hee-jin stated, as before, 'It is entirely untrue.'
Earlier, former CEO Min stated in an official position in early November last year, 'I heard that stories about receiving investments from someone and deciding to contract with someone were spreading within the investment community,' and added, 'I also heard that specific company names were mentioned, but I want to clearly state that all of this is completely untrue.' She further emphasized, 'I assure you that I have not contacted or exchanged opinions with any place other than the mentioned company.'
Meanwhile, NewJeans held an emergency press conference on Nov. 28 of last year and declared that they would leave their agency, Ador, since their requests for corrections had not been met. They announced that their exclusive contract would be terminated effective from midnight on Nov. 29, stating they would act independently. Additionally, NewJeans expressed a desire to work with former Ador CEO Min Hee-jin. Following this, the members have continued their independent activities, including opening a new Instagram account.
In response, Ador issued an official statement on Dec. 5 of last year, stating, 'We filed a lawsuit with the Seoul Central District Court on Dec. 3 to legally confirm that the exclusive contract with our artist NewJeans remains valid,' and added, 'We did not wish for the issues with our artists to be resolved through legal judgment, but we deemed it necessary to confirm to the artists and various stakeholders that an exclusive contract between the company and artists is not lightly terminated by unilateral claims, leading to this unavoidable decision.'