Min Hee Jin Exposes Damning Evidence Against Bang Si Hyuk During Fraud Trial

Min Hee Jin‘s words have been brought forward as new evidence that directly links Bang Si Hyuk to claims of deception surrounding HYBE’s public listing.

Now submitted as evidence in court, her words could play a crucial role in the ongoing fraud case against him.

Speaking with The Hankyoreh, Min Hee Jin revealed that when she met with Bang Si Hyuk in January 2019 to finalize her salary contract, he told her the company had no plans to go public. He then advised her to take a cash signing bonus instead of stock-based incentives.

When I met Chairman Bang in January 2019 (for annual salary negotiations), he told me, ‘There are no plans to go public.‘ He then suggested, ‘Cash is better than stock for incentives. Let’s replace it with a signing bonus.’ I trusted his words and signed the contract. Another person involved in recruiting me at the time also knows this.

— Min Hee Jin

This detail is significant because Bang is accused of misleading investors during the same period. Authorities allege that he and his close associates secretly prepared for an IPO while telling insiders and shareholders the opposite.

Regulators now suspect that several early investors may have sold their stakes at undervalued prices, believing there would be no listing, while private funds tied to Bang quietly accumulated shares. These shares later generated enormous profits when HYBE went public in October 2020.

By claiming that Bang also told her there were no IPO plans, Min’s testimony strengthens the argument that the false statements were not limited to investors but extended to key executives within the company.

In response, HYBE stated it cannot confirm the testimony, emphasizing that it was a private conversation between the two.

You can read more about the accusations Bang Si Hyuk is facing below.

Investigation Into HYBE Bang Si Hyuk’s Alleged Illegal Actions Gets A Major Breakthrough