News Hybe/MHJ Civil War Megathread (2 Viewers)

[mysteric]

now they're saying he has some facial recognition disorder lmaoo
everyone's awful but at least have the guts to deny everything instead of going for all the "well we have different perspectives" on every single details
sbf may have been a fraud but at least he maintained his story until the end

 

[Selfmate]

[Exclusive] Mother A of a New Genes member, “Hive CEO Park Ji-won said he would give New Genes a long vacation..” (Interview)
“CEO Park Ji-won said he would give the children a long vacation.”

While Hive and its label Adore are going through a fierce conflict, the mother of one of the New Jeans members had a phone interview with Daily Sports. A, the mother of a member who was wary of causing harm to her children, expressed on the 12th, “I was really distressed because I thought something like this happened because we sent an email like this for no reason.”

Person A said, “On the day that CEO Min Hee-jin (Adore) held a press conference (April 25), three New Jeans mothers, including me, visited Hive.” She added, “I was worried that CEO Min would be in big trouble, and I thought that maybe we could build a bridge between Hive and Adoor.”

“Park Ji-won (Hive) came about 20 minutes late, and other executives came first,” A said. “We didn’t talk about our mediation for a few minutes, and they brought a laptop or something and said, “CEO Min did this wrong.”

Previously, the parents of New Genes members, including Mr. A, sent an email to Adore pointing out the problem of plagiarism from New Genes by the new group 000, which debuted on Belif Lab, a label under Hive, on March 31st and requesting correction. Representative Min Hee-jin sent her email containing her own opinions, including this email, to Hive and Billy Frapp on April 3. Adore then sent another email on April 16th, saying there was no response to this issue, and on this day, Hive sent a reply email to the first email. Afterwards, Hive sent a reply email to Adore's second email on the morning of April 22 and began auditing Adore in the afternoon.

When asked, "There is a suspicion that the mothers of New Jeans may have been persuaded by CEO Min Hee-jin to send such an email," Mr. “He said it like he knew everything, so I was so embarrassed.”

He continued, “We don’t know if we can use these words or not, so we asked CEO Min Hee-jin to look into what we wanted to send an email to,” and added, “Even at the meeting (with Hive management), it was basically what we (New Genes parents) started.” “I clearly said that it would be,” he added.

“At first, 000 concept photos were posted, and my friends sent me questions asking if they were new photos from New Jeans, but they said, ‘There’s no 00 in them.’ I wondered what this was. It was so similar. So (New Jeans) mothers exchanged opinions and asked CEO Min. “It was definitely us who started it.”

Mr. A said, “In the email we sent, ‘Hive Chairman Bang Si-hyuk doesn’t even greet the children’ means that not only our child but also other children have had similar experiences since their debut. “One child said he wasn’t greeted even though they were in the elevator together,” he said. He added, “I raised the issue again that day, and the Hive people said, ‘Mothers, you really misunderstood,’ and ‘Chairman Bang Si-hyuk may have facial recognition impairment.’”

Mr. A said, “I couldn’t say anything more at the scene, but after I came out, I said, ‘No, if you have a facial recognition disability, you can’t hear it. And I thought, ‘Even if you don’t recognize who it is, if you say hello, don’t you usually get a greeting?’” he said.

In addition, A said, "At the meeting, the Hive people talked about CEO Min's management of 000. At the same time, since this story is a sensitive and cautious story, I urged them not to tell (Newsins) children." He added, "But after I came out of Hive, articles related to 000 management came out within an hour. No, after talking like they care so much about the children, I published an article in less than an hour, and I wondered, 'What are these people?'" he added.

Mr. A said, “CEO Park Ji-won came later and told us, ‘CEO Min did not share any of the data from the New Genes Tokyo Dome in June, but they have many professionals, so they will be able to proceed well.’” He added, “And they said they were planning to give (New Jeans) a long vacation after the Tokyo Dome is over.”

Mr. A said, “I didn’t ask how long the vacation would be, but CEO Park said on the spot, ‘It takes about a year and a half to recruit a Grammy (award-winning) producer, so we’re trying to get one as quickly as possible.’” “So, when I came out, I met the mothers. We said, 'The producer of the Grammys said it would take 1 year and 6 months, but he said he would put it together as quickly as possible, so does that mean the long vacation is that much?' “I said I should ask this the next time we meet,” he confessed.

Mr. A emphasized, “We clearly told Hive, ‘We want New Jeans with CEO Min Hee-jin,’” adding, “It is a common idea that all five member mothers have agreed upon.”

“Actually, I have a lot of worries. I am also worried that without CEO Min Hee-jin, the children will be left unattended at Hive for a long time. Before this incident happened, I heard from CEO Min that there were plans for a New Genes world tour next year. But I'm going to have a long vacation... .”

Meanwhile, in response to this claim by New Jeans member's mother, Mr. A, a high-ranking figure at Hive said, "Giving a long vacation does not mean that you will have a rest period. Usually, when an idol makes a comeback, they do a lot of activities and then take a break, right?" “After that, if a comeback schedule is set, we will work hard and that’s what it means,” he said.

He went on to explain, “This in no way means that we are stopping New Genes’ activities or anything like that,” and “We are just saying that Hive will take special care of New Genes and support them to become the best artists.”

This official refuted, “The people who were present at the time said that if they were going to sudap (industry slang for suspending an idol’s activities for a long period of time at the agency), why did they talk about it with the producer?” He then refuted, “This is an evil play in which he (CEO Min Hee-jin) is trying to inflame the anger of his fans in order to become independent while making nonsense claims.”

This high-ranking official said, “There is a lot of evidence (related to CEO Min Hee-jin’s alleged breach of trust),” and added, “If these materials are revealed in court, many people will know Hive’s sincerity.”

Source: https://m.entertain.naver.com/article/241/0003350217

 

[catonkatonk]

Oh my god.

And I really thought their parents would just stay quiet 🤡

That "long vacation" thing... Which side do you believe?

 

[Selfmate]

Oh my god.

And I really thought their parents would just stay quiet 🤡

That "long vacation" thing... Which side do you believe?

neither

I'm on the shaman side obviously!!!

Spoiler

jokes aside - who knows at this point - I mean it's just drips and drabs of new information - I'm just waiting for court for the nevel level juict stuff to be revealed lol

 

[RandAlThor]

Oh my god.

And I really thought their parents would just stay quiet 🤡

That "long vacation" thing... Which side do you believe?

Well it is better than sleeping with fishes...

The translation is so wack. without all the right context and grammar .
This statement could be read so many different ways. Its impossible to know.

 

[lily]

Idk why the NJ parents spoke out. They should have stayed quiet. It doesn't end well when parents get involved with their kid's careers

 

[mysteric]

Idk why the NJ parents spoke out. They should have stayed quiet. It doesn't end well when parents get involved with their kid's careers

they didn't learn from snsd did they
but it is rather in line with what's been known, haerin was encouraged to audition by her mom because it was the mhj gg iirc (hanni was also inspired by the pgngg audition teasers), and hyejin obviously has been prepared to go down the idol path for a long time now
if what everything has been alleged has been true so far (regarding the fear post-lsfm and pre-ador that hybe wouldn't even debut them and the non-communication by the other execs), then newjeans may as well be complete outsiders to the company so no matter what happens, they either lose everything or they lose everything except for the public opinion

 

[RandAlThor]

they didn't learn from snsd did they
but it is rather in line with what's been known, haerin was encouraged to audition by her mom because it was the mhj gg iirc (hanni was also inspired by the pgngg audition teasers), and hyejin obviously has been prepared to go down the idol path for a long time now
if what everything has been alleged has been true so far (regarding the fear post-lsfm and pre-ador that hybe wouldn't even debut them and the non-communication by the other execs), then newjeans may as well be complete outsiders to the company so no matter what happens, they either lose everything or they lose everything except for the public opinion

Some of that sounded 50/50 ish in that the girls were isolated from Hybe.
You would think that given the buzz and size of the sales that big wigs would have been interested.

I mean i have never seen em preform / or watched a video. And i know the name and teh numbers and it does not hit my bottom line....

 

[mysteric]

Some of that sounded 50/50 ish in that the girls were isolated from Hybe.
You would think that given the buzz and size of the sales that big wigs would have been interested.

I mean i have never seen em preform / or watched a video. And i know the name and teh numbers and it does not hit my bottom line....

honestly I favour mhj/ador/newjeans right now because everything that’s been emphasized corroborates with past content and timelines; with how things are the three are unfortunately inseparable in the current situation
there are some holes like the glaring silence on the meeting with ib/pe allegations (the elephant in the room) but for the most part there has been good proof backing it up, but at least they’re more consistent with their story than hybe at the moment
again I think it’s an ego thing because from predebut to now, newjeans has always been the mhj gg and not the hybe/bsh gg, and in the very least bsh sided with the other source execs regarding creative differences for pgngg’s vision, so to see the side burner group succeed like must’ve done something
and again, greater empires had fallen for much less, like rjr nabisco back in the day from a frat boy mentality-driven ego trip, or all the tricks these family enterprises pull in the succession games; business strategy in the end of the day is rarely that rational

 

[Selfmate]

Idk why the NJ parents spoke out. They should have stayed quiet. It doesn't end well when parents get involved with their kid's careers

that was an internal memo send to MHJ to raise concerns with hybe
I don't think they ever intended it to be seen by the public

I will add that when NJ debuted all of them were children (SK laws wise) so they couldn't have signed any contracts and stuff and two of NJ are still children therefore the parents have to get involved and personally I think it's better if they do since it allows NJ themselves to focus on their upcoming comeback and "try" not to worry as much as regards to the drama of it all

 

[Selfmate]

 

[Selfmate]

[Exclusive] “Adore executives sold stock just before the HYBE attack”



HYBE decided to request an investigation from the Financial Supervisory Service and claim that Ador's vice-president and other executives, with whom HYBE is in dispute, traded stocks using undisclosed information. They also plan to submit a petition on this day requesting an investigation into market manipulation, claiming that the offensive by Ador CEO Min Hee-jin and others amounts to spreading false information to lower stock prices. Ador refuted the claim, saying, “The timing is not right as the audit began on the 22nd.”

According to the investment banking (IB) industry on the 14th, HYBE plans to submit a petition to the Financial Supervisory Service requesting an investigation into Deputy CEO S on charges of violating the Capital Markets Act, such as spreading rumors and using undisclosed information. At the same time, HYBE decided to request the Financial Supervisory Service to investigate other Ador executives, including CEO Min Hee-jin. HYBE stated that the reasons for the investigation were charges of committing fraudulent transactions, such as spreading false information that an artist under HYBE's label plagiarized another artist in order to negatively affect the stock price, and causing damage to investors through market manipulation.

HYBE side filed a complaint, believing that the fact that Ador's vice-president S sold 950 shares of HYBE stock worth 200 million won that he held on April 15 was using undisclosed information. The timing of Vice President S's stock sale was a day before Ador executives, including CEO Min Hee-jin, sent the so-called 'second email' raising various suspicions, including HYBE's poor management and discriminatory treatment of Ador. HYBE's side suspects that Vice President S disposed of all of the stock the day before, believing that it would be inevitable that HYBE's stock price would fall if a public opinion war began with the email. Vice President S is an insider as he is an executive of HYBE's subsidiary under the law.

The average selling price of 950 shares of HYBE stock that Vice President S disposed of on April 15 was 214,605 won, for a total of 203.87 million won. Afterwards, Hive's stock price plummeted to the 190,000 won range as an audit began in relation to CEO Min's alleged theft of management rights and internal corruption was embroiled in the situation, and Vice-CEO S avoided tens of millions of won in losses, HYBE claims.

Ador countered, saying, “The start of the audit was made public by HYBE on the 22nd, after the time the stocks were sold,” adding, “It makes no sense to have sold stocks in advance in anticipation of this.” Vice-CEO S refuted, "Of course, we did not know that the audit would begin on the 22nd, and we sold stocks to raise funds to raise interim payments for directors, and there was no other purpose at all."

HYBE also requested the Financial Supervisory Service to investigate CEO Min Hee-jin on the grounds that she was aware of the decline in the company's stock price in advance and conspired to wage war on public opinion. Among the data obtained in the audit, HYBE decided to secure KakaoTalk conversations in which CEO Min and others explicitly knew in advance that the stock price would fall and submit them as evidence. During a conversation between Representative Min and Deputy Representative L on March 16, when Deputy Representative L predicted a stock price crash, saying, “If the Ador dispute becomes an issue, it will fall drastically,” Representative Min responded, “Of course.”

Also, on April 3, in a group KakaoTalk room where CEO Min, Vice-CEOs S, L, and K inside directors were all together, Vice-CEO L said, “If we go to trial, the stock price will go down, so minority shareholders will say things like they want to file a lawsuit…” HYBE claims that he once said, “Hive will suffer as a listed company if these types of people join him.” He also mentioned on April 18, “Fair Trade Commission -> Public Opinion -> Litigation,” and said, “The way to avoid getting blood on your hands is Fair Trade Commission -> Spill on reporters -> Stock prices plummet -> Make minority shareholders file lawsuits.” I also had conversations with other executives, including the CEO and Vice President S.

Source: https://marketinsight.hankyung.com/article/202405147594r

 

[RandAlThor]

[Exclusive] “Adore executives sold stock just before the HYBE attack”



HYBE decided to request an investigation from the Financial Supervisory Service and claim that Ador's vice-president and other executives, with whom HYBE is in dispute, traded stocks using undisclosed information. They also plan to submit a petition on this day requesting an investigation into market manipulation, claiming that the offensive by Ador CEO Min Hee-jin and others amounts to spreading false information to lower stock prices. Ador refuted the claim, saying, “The timing is not right as the audit began on the 22nd.”

According to the investment banking (IB) industry on the 14th, HYBE plans to submit a petition to the Financial Supervisory Service requesting an investigation into Deputy CEO S on charges of violating the Capital Markets Act, such as spreading rumors and using undisclosed information. At the same time, HYBE decided to request the Financial Supervisory Service to investigate other Ador executives, including CEO Min Hee-jin. HYBE stated that the reasons for the investigation were charges of committing fraudulent transactions, such as spreading false information that an artist under HYBE's label plagiarized another artist in order to negatively affect the stock price, and causing damage to investors through market manipulation.

HYBE side filed a complaint, believing that the fact that Ador's vice-president S sold 950 shares of HYBE stock worth 200 million won that he held on April 15 was using undisclosed information. The timing of Vice President S's stock sale was a day before Ador executives, including CEO Min Hee-jin, sent the so-called 'second email' raising various suspicions, including HYBE's poor management and discriminatory treatment of Ador. HYBE's side suspects that Vice President S disposed of all of the stock the day before, believing that it would be inevitable that HYBE's stock price would fall if a public opinion war began with the email. Vice President S is an insider as he is an executive of HYBE's subsidiary under the law.

The average selling price of 950 shares of HYBE stock that Vice President S disposed of on April 15 was 214,605 won, for a total of 203.87 million won. Afterwards, Hive's stock price plummeted to the 190,000 won range as an audit began in relation to CEO Min's alleged theft of management rights and internal corruption was embroiled in the situation, and Vice-CEO S avoided tens of millions of won in losses, HYBE claims.

Ador countered, saying, “The start of the audit was made public by HYBE on the 22nd, after the time the stocks were sold,” adding, “It makes no sense to have sold stocks in advance in anticipation of this.” Vice-CEO S refuted, "Of course, we did not know that the audit would begin on the 22nd, and we sold stocks to raise funds to raise interim payments for directors, and there was no other purpose at all."

HYBE also requested the Financial Supervisory Service to investigate CEO Min Hee-jin on the grounds that she was aware of the decline in the company's stock price in advance and conspired to wage war on public opinion. Among the data obtained in the audit, HYBE decided to secure KakaoTalk conversations in which CEO Min and others explicitly knew in advance that the stock price would fall and submit them as evidence. During a conversation between Representative Min and Deputy Representative L on March 16, when Deputy Representative L predicted a stock price crash, saying, “If the Ador dispute becomes an issue, it will fall drastically,” Representative Min responded, “Of course.”

Also, on April 3, in a group KakaoTalk room where CEO Min, Vice-CEOs S, L, and K inside directors were all together, Vice-CEO L said, “If we go to trial, the stock price will go down, so minority shareholders will say things like they want to file a lawsuit…” HYBE claims that he once said, “Hive will suffer as a listed company if these types of people join him.” He also mentioned on April 18, “Fair Trade Commission -> Public Opinion -> Litigation,” and said, “The way to avoid getting blood on your hands is Fair Trade Commission -> Spill on reporters -> Stock prices plummet -> Make minority shareholders file lawsuits.” I also had conversations with other executives, including the CEO and Vice President S.

Source: https://marketinsight.hankyung.com/article/202405147594r

ack insider tradings prize is prison, this is next level.

 

[Selfmate]

ack insider tradings prize is prison, this is next level.

the entirety of Aespa's TT have been so on point with regards to this situation
it's no wonder why BSH wants to crush them

 

[mysteric]

that was an internal memo send to MHJ to raise concerns with hybe
I don't think they ever intended it to be seen by the public

I will add that when NJ debuted all of them were children (SK laws wise) so they couldn't have signed any contracts and stuff and two of NJ are still children therefore the parents have to get involved and personally I think it's better if they do since it allows NJ themselves to focus on their upcoming comeback and "try" not to worry as much as regards to the drama of it all

the info that hybe was basically planning to shelve newjeans came from an exclusive interview with one of the moms though, even if that initial letter of complaint wasn’t intended to be made public they still have made public moves

 

[mysteric]

ack insider tradings prize is prison, this is next level.

remember how there was an unexpected fall in hybe stocks in gen a week later bts “focuses on their solo careers”

 

[Abeamus]

Those pesky hard to answer yes/no questions

 

[mysteric]

Those pesky hard to answer yes/no questions

an upgrade from "we have different perspectives but also he has facial recognition disorder" at least

 

[catonkatonk]

The stock drop was caused by HYBE making a public announcement of the surprise audit. How could Ador have predicted either of those events?

 

[Selfmate]

[Full text] Adore "Vice President's stock sales were for rent payment... I hope you look back and see who is more 'evil'."
◇The following is the full text of Adore's position.

Adore hopes that Hive will stop making unreasonable claims and excessively criticizing management in order to avoid responsibility for the decline in stock prices.

It was Hive, not Adore, who started this incident.

Hive began the audit on April 22nd and immediately announced the details to the media. He requested that an extraordinary general meeting of shareholders be convened at the same time as the audit began. This is a plan to replace Adore's management regardless of the audit results. Looking at Hive's actions so far, from the outrageous stylist embezzlement claim to the current Adore vice-president's market manipulation claim, it is clear that there is a malicious intention to tarnish Adore's management and get them fired.

According to Hive's claim, Deputy CEO S sold 950 shares (worth approximately 200 million won) on April 15, a week ago, in anticipation of Hive's audit right to be exercised on April 22. Adore's management obviously had no prior knowledge of Hive's audit plans. Due to Vice President S's transaction, the difference is only 19 million won. The vice president signed a contract for a leased house on April 8 and sold stocks to pay the balance of the house. I am attaching a file for this. Regarding this, Hive is making nonsensical claims that even they themselves find strange, such as using undisclosed information and manipulating prices.

Contrary to their claims, the KakaoTalk content claimed by Hive is about discussing countermeasures if the 'Aillet plagiarism issue' continues. In the event that the internal complaint is not accepted, the final method is to report the contents to the Fair Trade Commission, file an external petition to the effect that the plagiarism is unfair, or notify the person that the plagiarism is unfair through the Unfair Competition Prevention Act. This takes into account methods, etc.

Funny enough, none of this would have happened if Hive hadn't started. The irrationality of the contract between shareholders, the Eyelet plagiarism incident, and the problems raised by stylists and whistle-blowing were all issues that Hive could have resolved internally in advance, but did not do so. Hive cleverly edits provocative words without explaining the exact context, misleading public opinion with false facts every day, and creating fatigue.

Hive should not fabricate excerpts of irrelevant conversations for their own purposes other than to obscure the facts in an audit. Accordingly, Adore's vice-president A announced his intention to withdraw his consent to provide information and use as of May 9 through a notice of withdrawal. Nevertheless, Hive continues to violate the human rights of employees of its affiliates. We would like to state once again that we plan to take active civil and criminal action against those involved if this behavior continues.

It is a time when we are concentrating on an important project called New Jeans' comeback. Today, we received good news that New Jeans has sold out all tickets for the 2nd Tokyo Dome fan meeting in Japan. Despite this positive news, Hive is obsessed with finding fault with its subsidiaries, and has repeatedly lied that it is protecting artists while not focusing on promoting them. Unlike Hive, which is the culprit behind this stock price decline, Adore management is focusing on Newgenes' comeback activities to fulfill its responsibilities to shareholders.

I ask Hive. Who is responsible for the current stock price decline? Hive, which suffered losses to numerous small investors after being investigated by the exchange, the Financial Supervisory Service, and the prosecution due to a sharp decline in stock prices immediately after listing, mass selling of shares by top management at the highest price, and loss avoidance using undisclosed information, raised this issue with Adore management. Do you think it is appropriate to do this? I hope that Hive will reflect on who the ‘evilness’ it expressed in its previous statement is appropriate for.

Hive, as the parent company, should focus on its own business activities. I also hope that in an attitude of protecting artists, they will stop any further malicious media play and deal with the facts in court.

Source: https://m.entertain.naver.com/article/030/0003206238