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On January 9, 2025, South Korean media outlet Ten Asia reported that Dabolink Chairman Park Jung-gyu accused former ADOR CEO Min Hee-jin of making false claims. The claims were regarding their discussions about investment and the potential relocation of the K-pop group under the label, NewJeans.
In the interview with Ten Asia, Park shared detailed accounts of their meeting in late September last year, where he claimed the two had a three-hour conversation centered around investment proposals and strategies to extract NewJeans from ADOR. Alleging that Min Hee-jin lied about his meeting, Park Jung-gyu stated,
"I was shocked to hear that she had never received any investment and had never met with any investors. Min Hee-jin is telling a blatant lie. We discussed investment for three hours and even talked about how to get NewJeans out."
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Park disclosed that Min Hee-jin initially approached him through a third party, reportedly the uncle of a NewJeans member, Hyein, who requested a ₩5 billion investment on Min's behalf.
Park admitted he declined the direct investment due to its risks but proposed an alternative plan involving acquiring his company, Dabolink.
He explained that this structure would allow Min to secure funding for a new business venture while minimizing his own financial risks.
Park stated that Min was fully aware of this proposal and its details, citing a phone conversation, during which she immediately referenced prior discussions about the plan.
Park Jung-gyu accuses ex-ADOR CEO Min Hee-jin of lying about NewJeans discussions
The key meeting between the two allegedly occurred on September 30, 2024, at Park Jung-gyu’s residence. He said the discussions extended to ways Min could relocate NewJeans from ADOR. Park claimed that Min Hee-jin raised the possibility of taking the group out of HYBE's subsidiary and sought his advice. He said:
"I said that in order to take those members out, I would have to throw them away first. I asked him in return who would let them go if he didn't give up and tried to take everything. I even advised Min Hee-jin that if she left Adore, the company's value would fall and that would eventually allow her to take New Jeans out."
He suggested that for such a move to be feasible, she would need to diminish ADOR’s value by stepping down from her position. Park asserted he advised Min that attempting to take everything without compromise would be unlikely to succeed.
Tensions between Park Jung-gyu and Min Hee-jin escalated when she later denied having met him or discussed investment plans, labeling his claims as entirely fabricated.
Park expressed frustration, stating that Min’s denial not only damaged his reputation but also affected stock prices.
He criticized her use of unprofessional language during their discussions, including disparaging remarks about HYBE’s Chairman Bang Si-hyuk, which he found inappropriate and indicative of poor judgment. He stated:
"When he called Chairman Bang a 'pig XX' in front of someone he had just met, I thought, 'This isn't the right person.' Isn't that just a lack of basic manners? I explained what I had planned, but I had a feeling that it wouldn't work out well."
Min Hee-jin, however, has consistently rejected these allegations. Her representatives maintained that no discussions regarding investments or NewJeans occurred, further denying that she ever met with Park.
Reports speculate that Min’s outright denial could be tied to potential legal ramifications. If proven, engaging in such negotiations while serving as an internal director at ADOR could constitute a breach of trust.
The allegations of plotting to relocate NewJeans may also support claims of tampering.
For context, HYBE, ADOR’s parent company, filed a criminal complaint against Min Hee-jin in April 2024, citing a breach of trust. While Min’s team has dismissed the accusations as lacking evidence of execution, Park’s testimony could play a pivotal role in ongoing investigations.
As of now, the group's members announced the termination of their contract with the label, citing a breach of trust during an emergency press conference on November 29, 2024. However, ADOR has declined acknowledging the premature contract termination.
