Jung Jin-su, HYBE chief legal officer, alleged that former CEO Min Hee-jin met with investors regarding NewJeans.
On the 11th in the afternoon, the Seoul Central District Court Civil Division 31 (Director General Nam In-su) held the second hearing in the lawsuit filed by three people including former CEO Min Hee-jin seeking payment for stock sale proceeds related to the exercise of a put option against HYBE.
The court on the day also conducted a concurrent hearing for the fourth hearing in HYBE's suit seeking confirmation of termination of the shareholders' agreement against two people including former CEO Min. Former CEO Min Hee-jin attended the trial, and Jung Jin-su, HYBE chief legal officer (CLO), appeared as a witness.
That day Jung, the CLO, was asked whether he knew about matters related to Min Hee-jin's meetings with investors that had not been reported in the media, and he said, "There was also a separate tip. At the end of last year and the beginning of this year someone reported that defendant Min Hee-jin met people to receive investment from an investor in Japan."
About the tipster he said, "They asked that their identity not be revealed, so it is difficult to say," but added, "They specifically said a Japanese investor came to Korea in January of this year, and provided detailed circumstances that they arranged a meeting room at a well-known venture capital firm that had advised on the shareholders' agreement for the former CEO."
Jung Jin-su, the CLO, was asked whether he had heard of any specific investments related to NewJeans by that Japanese investor. He added, "At the time there was a provisional injunction request concerning NewJeans' exclusive contract. We even showed investors translated materials in Japanese of a legal opinion from Shin & Kim LLC that said NewJeans would win 100%."
[Photo] Reporter Park Jun-hyung
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