- HYBE Subsidiary ADOR, K-Pop's Issues and Min Hee-jin's Candid Opinions
- Min Hee-jin, CEO of HYBE's subsidiary ADOR, criticized issues within the K-pop industry, particularly the multi-label system and random photo card insertion, stating that she wants to show that NewJeans can achieve success through a different approach.
Min Hee-jin, CEO of ADOR, and HYBE's conflict has escalated into a legal battle.
[Key Point] Depending on whether Min is found guilty of breach of trust, the price of her stake sale will vary.
HYBE has accused Min of attempting to seize control of the company and filed a complaint against her for breach of trust.
🏴☠️ Guilty Verdict: HYBE will purchase Min's stake at face value (3 billion KRW).
🏳️ Not Guilty Verdict: Min can exercise her put option to sell her stake for up to 100 billion KRW.
[Current Status] HYBE is expected to remove Min through an extraordinary general meeting.
HYBE holds an 80% stake in ADOR, making it possible to remove Min through a majority shareholder vote.
The management change is expected to take about 2 months.
[Issue] Did Min actually commit breach of trust?
HYBE's Claim : Min planned to secure ADOR's independence by attracting external investors and taking NewJeans away from HYBE.
Min's Claim : Discussions to attract investment were aimed at increasing company value, and there was no intention to take NewJeans away.
📢 Legal Determination : The core issue in breach of trust is 'whether it has been initiated.' Therefore, simply contacting external investors is unlikely to constitute breach of trust.
[Major Variable] Whether HYBE can prove damages to ADOR and HYBE.
Breach of trust requires proof of damage to the company, but due to the contents of the shareholder agreement, there is a possibility that HYBE can prove damage.
HYBE's Claim : Min misappropriated financial data and artist contract information, causing damage to HYBE.
🏳️ If Min is found not guilty : There is a possibility that she may sue HYBE for damages and demand payment of her remaining salary during her term.
[Future Outlook] Even if Min is found not guilty, the conflict could continue for a long time.
🏳️ If Min is found not guilty : She may sue HYBE, arguing that 'she was removed through a resolution of a general meeting without a valid reason'.
She may file a civil lawsuit to 'confirm the invalidity of the general meeting resolution' or a 'provisional disposition to confirm her position as a director'.
HYBE : Plans to investigate other illegal acts committed by Min in addition to the breach of trust.
- ADOR Min Hee-jin CEO.. Storm of 'Blind' Posts by Company Employees
- The conflict between CEO Min Hee-jin and HYBE has sparked a surge of negative reactions from employees on Blind. Criticisms center around her alleged monopolization of NewJeans' success and suspicions of breach of trust.
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