YouTuber Kim Min-woo (Mimiminu) Refunds All Advertising Fees After Partner Company Goes Bankrupt, Facing Another Test Following 'Slam' Controversy

Mimiminu (real name Kim Min-woo), a prominent creator in the exam prep education scene, is facing another major storm. Following a legal battle late last year over the so-called 'Slam' incident (involving a defamation lawsuit against a show participant), he's now embroiled in the sudden bankruptcy of a startup he personally promoted, putting his authenticity to the test. However, Kim Min-woo has surprised everyone with a powerful counter-move that has captured the intense interest of netizens.

A Betrayal by the 'Earn-While-You-Study' App? 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 operated by having users put down a deposit (up to 200,000 won) and, if they achieved their study goals, they would receive the deposit back plus additional rewards. It was 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., ultimately 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. Those affected began organising via social media, creating group chats to assess the scale of the damage. Currently, over 860 people have joined a victim's group chat. The amount lost per person varies widely, from around 100,000 won up to 900,000 won. One victim expressed their frustration, saying, "For a student, 200,000 won is a huge amount of money, and now we've become creditors overnight."

Mimiminu's Response: "I Will Refund the Full Advertising Fee From My Own Pocket"

In this situation, Kim Min-woo took swift action, releasing an apology video of about two minutes the very next day, on the 25th. He stated, "I want to take responsibility for the current situation where many people haven't received their deposits back because the company I did advertising with went bankrupt." He declared, "I will formally return the full amount of advertising fees I received from that company, plus additional funds, to the victims." Going beyond simply returning the fee, he signalled his willingness to bear additional personal costs.

He explained, "I conducted two advertising campaigns with them from last June until last month, meeting the company CEO in person and thoroughly vetting them. But I only found out on the day of the bankruptcy that they had hidden signs of financial trouble even from their own internal directors until right before the collapse." He added, "Since I can't get in contact with the CEO, I felt it was right to take responsibility as quickly as possible for those who trusted me and my channel." Immediately after uploading the video, he also deleted all related promotional videos from his channel to prevent further harm.

Two Crises: The 'Slam' Controversy and How This Situation is Being Viewed

In fact, this situation marks Kim Min-woo's second major headache 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 allegations of a 'laptop theft', and claimed that Mimiminu caused mental distress by reading malicious comments during a livestream as if they were fact. This incident, dubbed the 'Slam' controversy, remains under police investigation. Back then, Mimiminu took a cautious stance, stating on his fan café, "We are preparing a legal response and will share our position once the results are out."

This is why his lightning-fast decision to offer a 'full refund' in the 'Part-Time Study' situation is garnering significant attention. Instead of arguing about legal liability, he appears to have chosen to act on 'trust'.

• Prompt and Decisive Action: Uploaded a video the day after the incident broke, promising a full refund of the advertising fee and additional support, effectively countering any accusations of 'irresponsible promotion'.
• Engagement with Victims: Immediately after the video, he reached out to the victims' group, stating he would provide the promised amount after proper verification procedures.
• No Evasion of Responsibility: While emphasising that the company hid its financial troubles until the very end, he stepped up to take moral responsibility when the CEO became unreachable.

For Students, 'Trust' is Everything... What Will Kim Min-woo's Choice Lead To?

While some speculate that this decision might be purely for image management, the majority of netizens are responding positively. Comments like, "It can't be an easy decision to return the full advertising fee when you might be a victim yourself," and "It's impressive for a YouTuber to give the advertising fee to the victims," are prevalent. Many also express gratitude for his swift response.

As a creator dealing with the sensitive topics of exams and education, 'trust' is the core asset of the Mimiminu personal brand. Kim Min-woo, who gained recognition for his candid story of finally entering Korea University after five attempts, has positioned himself as a 'mentor' for students. Whether this decision remains just a post-crisis cleanup or becomes a turning point that solidifies his reputation as 'trustworthy Mimiminu' will depend on his next steps. All eyes are now on how the refund process for victims will actually unfold, and what the final legal outcome of the ongoing 'Slam' case will be.