Mimiminu Kim Min-woo Declares Full Ad Fee Refund After Partner Company Bankruptcy: Another Test Following ‘Slam’ Controversy

Mimiminu (real name Kim Min-woo), a prominent creator in the test-prep education scene, has found himself facing another major storm. Following a legal battle late last year over the 'Slam' incident (involving a defamation lawsuit against a show participant), he now finds his integrity tested after a startup he personally promoted went bankrupt suddenly. However, Kim Min-woo has surprised everyone with an aggressive countermeasure, drawing intense interest from netizens.

Betrayal by an 'App That Pays You to Study'? The Part Time Study Bankruptcy

The incident began on the 24th with the sudden bankruptcy of a study app called 'Part Time Study'. The app allowed users to deposit a certain amount (up to 200,000 KRW) and receive their deposit back plus extra rewards upon achieving their study goals, making it hugely popular among students as an 'app to earn pocket money while studying'. However, after refund delays started a few days prior, the operating company, Studywork Inc., entered bankruptcy proceedings without any prior notice.

The issue is that this app was actively promoted on Mimiminu's channel just a few months ago. Victims began organising on social media, creating group chats to assess the scale of the damage, with over 860 people currently in one such chatroom. Individual losses range from 100,000 KRW to as high as 900,000 KRW. One victim expressed their frustration, saying, "200,000 KRW is a huge amount for a student, and now overnight, I've become a creditor."

Mimiminu's Response: "I Will Refund the Full Ad Fee from My Own Pocket"

In this situation, Kim Min-woo released an apology video, approximately two minutes long, the day after the incident, on the 25th. He stated, "I want to take responsibility for the current situation where many people haven't received their deposits back due to the bankruptcy of a company I ran ads for on my channel," and declared, "I will formally pay the victims the full amount of the advertising fee I received from the company, plus an additional sum." He went beyond simply returning the ad revenue, indicating he would cover the extra cost himself.

He explained, "I conducted two advertising campaigns with them, from June last year up until last month. I met the CEO in person and thoroughly reviewed the company, but I only found out on the day of the bankruptcy that they had hidden the signs of worsening financial trouble even from their own internal directors." He added, "With no way to contact the CEO, I thought the least I could do was take responsibility as quickly as possible for those who trusted me and my channel." Immediately after uploading the video, he also removed all related promotional content from his channel to prevent further harm.

Two Crises: Public Opinion on the 'Slam' Controversy and This Incident

In fact, this incident marks the second headache for Mimiminu this year alone. Previously, in October of last year, he was sued for defamation and insult by an individual referred to as 'A', who had appeared in his content. At the time, 'A' had left the show amid online rumours of laptop theft, claiming that Mimiminu had read malicious comments during a live broadcast, treating them as fact and causing emotional distress. This so-called 'Slam' controversy remains under police investigation. During that incident, Mimiminu maintained a cautious stance, stating on his fan cafe, "We are preparing a legal response and will share our position once there are results."

Therefore, his swift decision to issue a 'full refund' in the 'Part Time Study' case is garnering even more attention. It appears he chose to prioritise 'trust' over legal liability.

• Swift Action: He posted a video within a day of the incident breaking, promising a full refund of the ad fee plus additional support, effectively deflecting criticism of 'irresponsible promotion'.
• Reaching Out to Victims: Immediately after releasing the video, he contacted the victims' group to arrange payment of the promised amount through proper verification procedures.
• No Avoidance of Moral Responsibility: While emphasising that the company hid its financial troubles until the very end, he acknowledged his moral responsibility as the CEO was unreachable.

For Students, 'Trust' is Everything… What Will Kim Min-woo Choose?

While some speculate that this decision might simply be a strategic move for image management, the majority of netizens are reacting positively, with comments like, "It can't have been an easy decision to give back all the ad money he received, especially when he's also a victim here." Many comments express gratitude for his quick response, saying things like, "It's amazing that a YouTuber is giving the ad fees to the victims," and "Thank you for acting so fast."

As a creator dealing with the sensitive topics of exams and education, 'trust' is the core asset of Mimiminu's personal brand. Kim Min-woo has built his reputation as an 'exam mentor' for students, using his own story of finally entering Korea University after five attempts. Whether this decision remains simply damage control or becomes an opportunity to solidify his standing as a 'trustworthy creator' will depend on his next steps. All eyes are now on how the actual compensation process for the victims will unfold and the final legal outcome of the ongoing 'Slam' case.