◆Why did Chairman Park and former CEO Min turn their backs on each other?

Park said that during their 3-hour conversation, Min spent over 70% of the time talking about herself. Much of it was complaints about conflicts with HYBE and Chairman Bang Si-hyuk. Park recalled, "When she used vulgar language to insult Chairman Bang in front of someone she just met, I thought 'this person isn't right.' Isn't that lacking basic courtesy? I explained what I had planned but had a feeling it wouldn't work out."

It appears that Park and Min ultimately didn't agree on specific investment methods. The problem came afterward. Park takes issue with Min's subsequent denial of ever meeting investors. Market fluctuations in stock prices after their meeting became known in investment circles also seem to have played a role. Some analyze that Min may have found it difficult to accept Park's proposal since it wasn't a simple investment structure.

◆Min continues to deny investor contact claims

We first interviewed Chairman Park late last year. After the interview, we requested fact-checking from former CEO Min's side. In response, Min's side stated, "Chairman Park's claims about former CEO Min are completely false" and "Former CEO Min never discussed investments with Chairman Park nor proposed any investments." We conducted an additional interview with Chairman Park on the 7th to hear further explanations, ensuring the right of reply given the completely contrasting statements from both sides.

However, Min's position includes aspects that defy common sense, particularly her denial of the clear fact that she "met" with Chairman Park. Analysis suggests this is deeply related to legal liability. Min has been particularly sensitive to "investor contact allegations." Meeting external investors while serving as an internal director at ADOR could constitute one element of breach of trust. Breach of trust requires actual execution, not just planning. This is also why Min has previously characterized her "Leave HYBE" plans merely as "employee complaints." Min's actions of meeting Park to discuss investments and asking about ways to extract NewJeans could constitute elements of breach of trust. The revealed discussion about planning to take NewJeans members also supports tampering allegations.

HYBE filed criminal charges against Min for breach of trust on April 26 last year. The investigation is ongoing. Until now, the focus has been on materials secured during HYBE's audit of Min. Min's side has countered that there is no concrete evidence of execution to constitute breach of trust. This is why Min's conversation with Chairman Park could play a "key role" in the investigation and future trial. This meeting represents executed action. Whether Min's actions violated principles of good faith as an ADOR member, and whether they ultimately caused damage to ADOR, could become key issues in determining breach of trust.