"Brand Sold for 15 Billion Won... No Connection to Stock Price Manipulation"
Naver Cafe Manipulation Admitted → Full Refund of Advertising Fees
YouTuber Eun Hyun-jang (40) appeared for the first time in three weeks following the controversy.
On the afternoon of the 23rd, Eun said through a YouTube video, "I apologize to everyone who felt shock and disappointment due to the controversy caused by me," and began, "I reflect on my mistakes and will accept the criticism graciously."
He stated, "Recently, due to false information spread about me, all the achievements I have worked hard for and my sincerity toward small business owners are being completely denied," adding, "I am even receiving threats against my family."
Eun is known to have started a chicken franchise brand with 30 million KRW in capital in his 20s and sold it for about 20 billion KRW in his 30s. Afterwards, through his YouTube channel 'Jangsa-ui Sin' (God of Business), which has 1.2 million subscribers, he provided free solutions for small business owners and earned the nickname "the Baek Jong-won of YouTube."
Through this fame, he received offers to appear on broadcasts such as Channel A's 'Seomin Gapbu Closure Escape Operation' and other shows.
However, suspicions arose that the actual sale price of the chicken franchise Eun operated was not 20 billion KRW, and controversy centered around him due to the arrest of the chairman of Chorokbaem Media, the company to which the sold chicken business belonged, on charges of stock manipulation, raising questions about possible connections.
In the video, Eun claimed that he is the founder of the chicken franchise 'Fried Cham Jalhaneun Jip (Huchamjal)' and has no connection whatsoever to stock manipulation or cryptocurrency.
Eun explained, "Due to the clear spread of false information, I, the company’s employees, and even the franchisees of Huchamjal are enduring painful days."
Regarding the sale amount, he explained, "As the founder, after great effort to build the brand, I sold 'Huchamjal' to IOK in November 2019 for 19 billion KRW, and my wife and I received 15.01 billion KRW based on our 79% stake. Besides the sale proceeds, I already had other assets such as cash and real estate, and I have previously estimated my total assets including investment and value appreciation."
He added, "Looking back on why baseless rumors about me spread, it seems to be due to my usual harsh language, careless exaggerations, and lack of legal knowledge. Because of this, facts such as the sale price, asset size, and PD service fees were also inaccurately conveyed or exaggerated."
He also admitted to manipulating comments and view counts on a Naver cafe, stating, "While improving the cafe, I have refunded all promised advertisers and have refunded about 300 million KRW so far," and pledged, "I will continue to keep my promises."
Furthermore, he earnestly requested, "Please stop spreading baseless false information about me and cease defamation against my family, fellow employees, and the 'Huchamjal' franchisees." He concluded by apologizing once again to small business owners who have shown him much affection and interest, to everyone dreaming of small business ownership, to his subscribers, and above all, to the 'Huchamjal' franchisees.
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