[Exclusive] Investor Says Min Hee-jin's ooak records Never Discussed 200 Billion Won Valuation

The 200 billion won (about $150 million) valuation floated in reports about ooak records , the new label from former ADOR CEO Min Hee-jin, never came up in actual talks with potential investors, according to one of the firms she met with.

Atinum Investment, which received an investment proposal from ooak records and held one meeting with Min Hee-jin, told this outlet in a phone call on the 13th that "a deal came in back in July, and we met with CEO Min once after that." The firm added, "But nothing detailed was discussed about the investment itself."

On the 200 billion won valuation making the rounds in reports, the firm was blunt. "We had never heard that number anywhere. We only learned about it through recent news coverage," a representative said. "It would not even be possible to set a corporate valuation for ooak records at this stage."

For a new company like ooak records, a first meeting is usually just introductions, the firm explained. Both sides trade basic information, such as what each company does and where its office is located.

The Atinum representative added that investment reviews are not fast decisions. "It can take six months to a year," the representative said. "You have to watch the numbers over time and see how the company grows." Industry observers say the 200 billion won figure has no clear basis and would count as an unusually high valuation in the current investment market.

Earlier on the 13th, one outlet reported that Atinum Investment had halted its internal review of a possible investment in ooak records . That report said the talks stopped because ooak records had presented a high corporate valuation despite not having any signed artists yet.

Atinum Investment recently made a separate 10 billion won solo investment in Modhaus, the agency behind groups including tripleS, ARTMS, and IDNTT.

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