“The so-called tampering allegations are nothing more than a nationwide fraud orchestrated by stock manipulators who targeted the NewJeans intellectual property. Min Hee Jin even made it clear that she was willing to give up her put option if it meant returning as ADOR’s CEO.”
Attorney Kim Sun-woong made the statement at an emergency press conference held on January 28 at the Kyowon Jonggak Building in Jongno, Seoul. Representing former ADOR CEO Min Hee Jin, Kim described the event as both a rebuttal to the sensational “NewJeans tampering” narrative and a final legal argument ahead of the February 12 ruling in a lawsuit involving 26 billion won.
At the heart of the press conference were specific timelines and recorded audio presented by Kim. He dismissed claims that Min had discussed a 5 billion won investment or the acquisition of ADOR with Park Jung-gyu, who is suspected of being the real owner of Dabalink, calling them “maliciously edited fabrications.”
Kim cited a recording dated September 28, 2024, stating that Min asked, “What is Tera? What is Dabo?” just before meeting Park, showing that she was unfamiliar with the companies in question. He argued that Park and a relative of one of the NewJeans members attempted to create a so-called “Min Hee Jin theme stock” by urging her to attend an international conference. When she refused, they allegedly retaliated by framing her in a tampering narrative.
When asked whether Min should have reported her contact with outside investors as an inside director, Kim replied that the meeting was not about fundraising or securing third-party investment channels. He said it was merely intended to open lines of communication and therefore did not require formal reporting.
During the Q&A session, Kim intensified his criticism of HYBE. Referring to an incident in which HYBE CEO Lee Jae-sang warned Min not to contact a specific company, Kim claimed that HYBE did not necessarily engineer the tampering narrative but allowed it to spread, ultimately benefiting from the situation.
One of the most striking points was Kim’s mention of Min’s willingness to give up her put option. He said that during negotiations conducted via Telegram, Min clearly stated that she was prepared to abandon her contractual right to sell shares if it meant returning as ADOR’s CEO and continuing to lead NewJeans. He emphasized that this showed her priority was not financial gain but the normalization of the group’s activities, undermining the fundamental logic behind the tampering allegations.
Sung Sang-young, head of the economics team at The Gate, who attended the conference, added economic context. He explained that Dabalink abruptly expanded from telecommunications equipment manufacturing into the entertainment business and amended its articles of incorporation more than ten times in an apparent attempt to become a so-called “NewJeans theme stock.”
Kim argued that these acts of market manipulation were what turned Min and NewJeans into alleged perpetrators of tampering. He announced plans to file criminal complaints against Park Jung-gyu and media outlets that published false reports, citing defamation under the Information and Communications Network Act and unfair trading practices under the Capital Markets Act.
He also explained why Min had remained silent for so long, saying that the involvement of family members of NewJeans made the situation particularly sensitive. However, with recent developments such as Danielle’s contract termination notice, Kim said the circumstances had become clearer and it was now time to reveal the truth.
Reported by News Culture M.J._mj94070777@nc.press
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