[SpoTV Today Reporter Hye-yeong Yoon] Park Jeong-kyu, chairman of the KOSDAQ-listed company Davolink, has accused former Ador CEO Min Hee-jin of lying.
On the 9th, Ten Asia reported, through an interview with Chairman Park, that “Chairman Park had a meeting with former CEO Min at the end of September last year to discuss setting up a new company and presented specific plans for funding.”
Chairman Park stated that he was asked by former CEO Min for investment towards the end of August last year and mentioned that Mr. B, a relative of NewJeans member A, acted as a mediator.
Chairman Park explained, “I got a call from Mr. B saying we needed to meet urgently. When we met, he asked me to invest 5 billion won in former CEO Min. I made a counterproposal the next day, suggesting a structure where she could take over Davolink. Mr. B called former CEO Min on speakerphone right then, and she asked, ‘Did the discussion with my father go well?’ as soon as she answered, which showed she was aware. It’s clear former CEO Min was aware of the 5 billion won investment proposal.”
Chairman Park and former CEO Min met on September 30th, and Dispatch captured photos of this meeting. According to Chairman Park, the purpose of the meeting was to discuss how to transfer Davolink to former CEO Min and how to provide the necessary funds.
Chairman Park claimed that former CEO Min asked, “Can I take NewJeans with me?” and that he advised her, “If you leave Ador, the company’s value will drop, and that’s when you can ultimately take NewJeans with you.”
However, disagreements on specific investment methods caused their partnership to fall through. Chairman Park mentioned that during their three-hour conversation, more than 70% involved former CEO Min discussing her conflicts with HYBE, including complaints about HYBE Chairman Bang Si-hyuk. “She was speaking so rudely about Chairman Bang that I wondered if she had any basic manners,” he reported.
Afterward, former CEO Min claimed she never met with investors, causing Davolink’s stock to fluctuate. Chairman Park expressed frustration, saying, “It was shocking. Former CEO Min is blatantly lying.”
Despite the photograph of the meeting and Chairman Park’s testimony, former CEO Min continues to deny meeting investors. Ten Asia noted that meeting with external investors while being an in-house director of Ador could constitute a breach of duty, and acts such as discussing investments with Chairman Park and inquiring about taking NewJeans out could meet the criteria for breach of duty. Particularly, the conversation with Chairman Park about planning to take out NewJeans supports the suspicion of tampering.