HYBE vs Min Hee Jin: Ex-ADOR head wins lawsuit over termination of shareholder agreement
&imwidth=600&imheight=450&format=webp&quality=medium "HYBE vs Min Hee Jin: Ex-ADOR head wins lawsuit over termination of shareholder agreement")
Min Hee Jin Photograph: (X)
Ex-ADOR head Min Hee Jin has reportedly won her first trial in her lawsuit against HYBE over shareholder agreements. Read to know more.
South Korean music producer and ex-ADOR head, is grabbing headlines once again as she reportedly won a case against the music label HYBE. Min Hee Jin, the current CEO of newly formed agency Ooak Records, reportedly won her first trial in her lawsuit against HYBE over shareholder agreements and put option stock payments.
More details about Min Hee Jin winning lawsuit against HYBE
As per the report of The Chosun Daily, the Seoul Central District Court Civil Division on February 12 ordered in the stock sale proceeds claim lawsuit filed by Min's side against HYBE, "HYBE must pay approximately 22.5 billion Korean won to Min and 1.7 billion and 1.4 billion Korean won, respectively, to former ADOR directors, which totals up to 25.6 billion won. Reportedly, the court dismissed HYBE's lawsuit against Min seeking confirmation of the shareholder agreement termination.
Post winning the lawsuit, in the same report, Min Hee Jin stated, "I hope this decision becomes a turning point for self-correction and improvement in the K-pop industry. It should remind us how serious contracts and promises are in this industry and whether they adequately represent creators’ perspectives. I also want to offer comfort and encouragement to those silently fighting against various injustices."
Trending Stories
)
)
)
)
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
)
)
)
)
)
&im=FitAndFill=(700,400))
)
)
&im=FitAndFill=(700,400))
)
)
)
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
)
)
&im=FitAndFill=(700,400))
)
)
)
&im=FitAndFill=(700,400))
)
)
HYBE responded, “We are disappointed that our claims were not fully accepted. After reviewing the ruling, we will proceed with appeals and other legal steps.”
All about the controversy involving Min Hee Jin and HYBE
In April 2024, HYBE Corporation began an internal audit on Min Hee Jin and her executives for allegedly attempting to seize full control of ADOR and publicly called for Min's resignation as the CEO. In response to this, Min issued a public statement rebutting the allegation, claiming that it would have been impossible for her to seize control of ADOR since HYBE owns 80% of the shares.
Min later claimed that she was asked to resign because of her complaints about the creative similarities in artistic direction between NewJeans and Illit and a girl group that had made their debut under HYBE's subsidiary label Belift Lab. The ex-CEO blamed the HYBE chairman, Bang Si Hyuk, who oversaw the production of Illit's debut, for failing to address the creative similarities between the two groups. Following the dispute, Hybe Corporation's share value fell by 12.17%.
