This article was displayed on the ChosunBiz MoneyMove (MM) site at 4:46 p.m. on July 16, 2026.
Large venture capital (VC) firm Atinum Investment is reviewing an investment in ooak Records, a new entertainment agency founded by former ADOR chief Min Hee-jin. It would be ooak Records' first external fundraising since its launch. The company is said to be targeting a valuation of around 200 billion won, but because it has no signed artists or revenue yet, there is talk that its price could come down during actual negotiations.
According to the investment banking (IB) industry on the 16th, Atinum Investment is conducting an internal review for an investment in ooak Records.
This investment review is being led by Atinum Investment's games and content institutional sector. Atinum Investment's assets under management total 1.9 trillion won, and its most recent fund is the 860 billion won "Atinum Growth Investment Partnership 2023."
The corporate name of ooak Records is "ooak," and it was established in October last year with 30 million won in capital. Its business purposes include celebrity management, record production and distribution, and concert planning. Min formalized plans in February this year to produce a rookie boy group and is recruiting members born between 2008 and 2013. No signed artists or debut schedule have been disclosed yet.
In the industry, the 200 billion won valuation for ooak Records is effectively seen as a price placed on Min's individual production capabilities and brand value. Min has a track record at SM Entertainment handling the concepts and branding of Girls' Generation, f(x), EXO, and Red Velvet, and at ADOR, led NewJeans to success. ADOR posted annual revenue in the 110 billion won range and operating profit of more than 30 billion won in both 2023 and 2024, when NewJeans was actively promoting.
The market sees a strong possibility that if heavyweight Atinum Investment actually executes an investment in ooak Records, inflows from other institutional investors will also increase. That is because investment by a large VC can serve as a kind of validation signal to other investors. However, given that this is still an early stage with no revenue or signed artists, some say it remains uncertain whether investors will recognize a valuation of 200 billion won.