Former ADOR CEO Min Hee Jin and her legal team is pushing back hard against allegations that she attempted to tamper with NewJeans, claiming the controversy was actually driven by an alleged stock manipulation scheme involving a NewJeans member’s family and a private businessman.
At a press conference on Wednesday, Min’s attorney Kim Sun Woong said the so-called tampering rumors were never about Min removing NewJeans from HYBE, but rather an attempt to inflate the stock price of KOSDAQ-listed company DAVOLINK by turning it into a “NewJeans–Min Hee Jin theme stock.”
“These allegations had nothing to do with Min Hee Jin,” Kim said. “They were part of a large-scale deception aimed at manipulating stock prices.”
While Kim did not name the member directly, the remarks appeared to point to Hyein, based on earlier reports involving her family.
The allegations initially surfaced through media reports claiming Min had colluded with DAVOLINK to remove NewJeans and ADOR from HYBE. The rumors suggested that the company planned to appoint Hyein’s uncle as an internal director and pursue a major acquisition of ADOR, with Min joining afterward. Though Min denied the claims, speculation intensified after reports emerged that she had met with DAVOLINK officials.
Kim countered that narrative, saying Min was instead focused on negotiating with HYBE to bring NewJeans back to activities, even going so far as to relinquish her contractual rights under shareholder agreements. “During this period, this family member who had ties to HYBE’s core management exploited her situation,” Kim alleged.
Calling the case a misuse of K-pop for financial gain, Kim urged authorities to investigate thoroughly, even referencing President Lee Jae Myung’s warning that stock manipulators should be punished so severely that they face total ruin.
Kim explained that Min had largely refrained from responding publicly out of concern for the members and their families. “She wanted to protect NewJeans from negative public perception, internal conflict, and potential division among the members,” he said.
ADOR has reportedly finalized return-to-activity talks with Haerin, Hyein, and Hanni, while discussions with Minji are ongoing. Danielle, however, has had her exclusive contract terminated over alleged contract violations.
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