A prominent education-focused YouTuber, Mimiminu (real name Kim Min Woo), announced that he would provide monetary assistance to users affected by the bankruptcy of Part-Time Study, a learning application he had previously advertised alongside DinDin.
In a video released on November 25, Mimiminu stated, “I will formally return the full amount of the advertising fee I received, along with additional funds, to the victims. I want to offer at least some help to those who are losing sleep and struggling through a difficult fight.”
Part-Time Study functioned as a motivation-based learning app in which users deposited a security amount and received that deposit back—with added bonuses—if they met their study-hour goals. Recently, its operating company, StudyWork Co., Ltd., was found to have entered bankruptcy proceedings. As the company collapsed, users’ deposits were frozen and left unrefunded. Individual deposits reportedly ranged from 100,000 KRW to 900,000 KRW (approx. 68.29 USD to 614.56 USD), and posts from students claiming damages continue to circulate online.
Mimiminu explained that he had been unaware of the company’s deteriorating financial condition during his advertising collaboration. “From June last year until last month, I met the CEO in person during two rounds of discussions and thoroughly reviewed all available materials. But even internal directors were kept in the dark about the company’s financial troubles until right before bankruptcy. I only learned of it myself on the day of the filing, through an abrupt email,” he said. He added, “I tried repeatedly to contact the CEO and staff members, but was never able to reach them.”
Still, Mimiminu expressed that he would return the advertising payment and contribute additional funds as a matter of ethical responsibility to viewers who trusted him and used the service. “For those who trusted me and my channel, I believe the least I can do is take responsibility swiftly,” he said. “I will contact the victims’ group immediately and deliver the promised amount promptly with proper documentation.” He closed with a deep apology, saying, “I sincerely apologize once again. I am very sorry.”
His apology video has since garnered around 1,900 comments. Online reactions included: “The advertiser collapses, and the model ends up cleaning things up,” “Did they target a well-known creator on purpose to shift responsibility?” “Filing bankruptcy right after the college entrance exam feels like a hit-and-run,” and “This looks like a classic scam—taking students’ money and running.”
When a corporation enters bankruptcy proceedings, the court appoints a trustee after receiving the case and announces a period for creditors to file claims. During this process, affected users must submit evidence—such as deposit amounts, payment records, and app usage history—to be recognized as creditors and be eligible for distribution of any remaining assets. However, if the company’s assets are insufficient, users may recover only part of their deposits or, in some cases, none at all.
DinDin, who also promoted the app, released a personal statement regarding the latest issue. He stated, “My team and I are continuing to try to contact the ‘Part-Time Study’ operators, and we will do our best to ensure a resolution is reached as soon as possible. I sincerely apologize to anyone who suffered damage after trusting me and joining the campaign. I will work to support the victims. I also apologize for the delay in releasing my statement, as I was in the middle of scheduled activities and only learned of the situation late.”
SHARE
