News Hybe/MHJ Civil War Megathread (42 Viewers)

[RandAlThor]

well in addition to the mirad of other legal issues the three most important ones are

1. can MHJ exercise her put option and collect her money which is estimated to be hundreds of millions of dollars
2. whether NJ can terminate their contracts at ador and for how much
3. whether MHJ will be willing to buyout NJ contracts from ador (including the rights to the name and discography) etc etc

My bet is
1. No
2. full price given the no bulling ruling. (aka 200 million usd)
3. No even if she wins the put case. No way hybe sells, they keep the name the masters all the songs. Copywrite strike anything and everything using any of it that does not pay them up front. They probably even refuse to let them cover the songs, for sure would go after any fancams ect.

 

[Selfmate]

My bet is
1. No
2. full price given the no bulling ruling. (aka 200 million usd)
3. No even if she wins the put case. No way hybe sells, they keep the name the masters all the songs. Copywrite strike anything and everything using any of it that does not pay them up front. They probably even refuse to let them cover the songs, for sure would go after any fancams ect.

2. her put options are about 200million or so apparently
3. that's something I'm probably sure NJ will fight over and try to obtain (even if it costs them some more $$$ to do so)

 

[RandAlThor]

2. her put options are about 200million or so apparently
3. that's something I'm probably sure NJ will fight over and try to obtain (even if it costs them some more $$$ to do so)

i have seen about 120 13 x 75 % the profit of the last 2 years.
i read the real reason this all went to hell was she wanted to jack that up to 30x. Hybe knew the first deal was super stupid and were not about to go to 30 x

 

[Selfmate]

i have seen about 120 13 x 75 % the profit of the last 2 years.
i read the real reason this all went to hell was she wanted to jack that up to 30x. Hybe knew the first deal was super stupid and were not about to go to 30 x

120m huh? maybe I was mistaken

 

[RandAlThor]

120m huh? maybe I was mistaken

Someone did the math the last day or 2 at akp. i could have remembered it wrong also.

 

[Selfmate]

Someone did the math the last day or 2 at akp. i could have remembered it wrong also.

I'm sure they did and I'm pretty sure that's where I got my number from but I probably read it wrong

either way the legal fights are gonna be fun lol

 

[RandAlThor]

I'm sure they did and I'm pretty sure that's where I got my number from but I probably read it wrong

either way the legal fights are gonna be fun lol

This number is much smaller i am so confused lol

[단독] 민희진, 방시혁에게 빌린 39억원 갚을 때 됐다…상환 요구 초읽기

m.entertain.naver.com

Previously, in March of 2023, Bang Si Hyuk personally loaned Min Hee Jin 3.7 billion KRW, which allowed Min to purchase an 18% stake in ADOR. Although at the time, media outlets reported that Min Hee Jin had purchased the stakes for 1.1 billion KRW, the actual purchase price for the shares was 3.7 billion KRW, factoring in the company's valuation. The entire amount was in fact borrowed from Bang Si Hyuk.




The minimum interest applicable to a personal loan given with an IOU or a promissory note, according to South Korean laws, is 4.6%. As a result, it is estimated that with interest, the total amount owed by Min Hee Jin as of November 2024, is 3.94 billion KRW. This loan is considered to be a separate, personal arrangement between Bang Si Hyuk and Min Hee Jin, unrelated to the ongoing legal dispute over the shareholder agreement between HYBE and Min.



Meanwhile, Min Hee Jin is currently looking to exercise her put option worth approximately 25.8 billion KRW (~ $18.5 million USD) as outlined in her shareholder agreement. If the court rules in favor of Min Hee Jin and validates her ability to exercise the put option, Min Hee Jin should be able to pay the loan without issue. However, if the court rules in favor of HYBE and denies her the ability, in effect finding her guilty of professional malpractice and for a breach of trust, HYBE would then acquire the right to purchase Min Hee Jin's 18% stake at face value, or 2.86 billion KRW as of November 2024. This would then leave her with a debt of roughly 1.07 billion KRW.

 

[Abeamus]

2. her put options are about 200million or so apparently
3. that's something I'm probably sure NJ will fight over and try to obtain (even if it costs them some more $$$ to do so)

In regards to 3 NewJeans are almost assuredly forfeiting their branding if they leave as despite the court ruling against Hybe/Source Music with Gfriend however they must not have made any leeway on actually getting the brand under them as Hybe was re-uploading even older Gfriend songs with their name added to it.

 

[Selfmate]

In regards to 3 NewJeans are almost assuredly forfeiting their branding if they leave as despite the court ruling against Hybe/Source Music with Gfriend however they must not have made any leeway on actually getting the brand under them as Hybe was re-uploading even older Gfriend songs with their name added to it.

that's something that NJ will determine with their lawyers I guess
and something to fight over in the contract dispute

 

[Selfmate]

Bang Si Hyuk demands 3.7 billion KRW personal loan repayment with interest from ex-ADOR CEO Min Hee Jin; HYBE clarifies its stance

The controversy between Bang Si Hyuk and Min Hee Jin has been ongoing ever since the feud between ADOR and HYBE. However, the situation has further complicated following Chairman Bang PD’s request for the repayment of his loan, with full interest, by ADOR’s former CEO.

On November 21, 2024, a South Korean news outlet released an exclusive report stating that HYBE’s chairman, Bang Si Hyuk, is seeking repayment of a personal loan amounting to approximately 3.94 billion KRW ($2.8 million USD) from Min Hee Jin, the former CEO of ADOR. This total includes the initial loan of 3.7 billion KRW, provided by Bang Si Hyuk in March 2023, along with accumulated interest.

The loan was used by Min Hee Jin to purchase an 18% stake in ADOR, with the company valued accordingly. While earlier reports suggested that the purchase price for the shares was 1.1 billion KRW, the actual transaction amounted to 3.7 billion KRW, fully financed by Bang Si Hyuk.

Under South Korean law, the minimum interest rate for a personal loan issued via an IOU or promissory note is 4.6%. Consequently, the total amount Min Hee Jin owes Bang Si Hyuk as of November 2024 is estimated to be 3.94 billion KRW. This loan is a private arrangement between Bang Si Hyuk and Min Hee Jin and is unrelated to the ongoing legal dispute concerning their shareholder agreement.

Min Hee Jin is seeking to exercise her put option, valued at approximately 25.8 billion KRW ($18.5 million USD), as stipulated in the shareholder agreement. Should the court rule in her favor and validate the put option, she would likely be able to settle the loan without difficulty.

However, if the court sides with HYBE and denies her this option—potentially finding her liable for professional malpractice and breach of trust—HYBE could acquire her 18% stake at face value, currently estimated to be 2.86 billion KRW. In this scenario, Min Hee Jin would be left with a remaining debt of approximately 1.07 billion KRW.

HYBE Labels issued a brief statement addressing the matter, explaining that it is unable to provide further details as the issue pertains to a personal arrangement between Bang Si Hyuk and Min Hee Jin. The company clarified that the loan in question is separate from the legal dispute concerning the shareholder agreement and declined to elaborate further on the situation.

Source: https://www.pinkvilla.com/entertain...min-hee-jin-hybe-clarifies-its-stance-1359281

 

[RandAlThor]

Bang Si Hyuk demands 3.7 billion KRW personal loan repayment with interest from ex-ADOR CEO Min Hee Jin; HYBE clarifies its stance

The controversy between Bang Si Hyuk and Min Hee Jin has been ongoing ever since the feud between ADOR and HYBE. However, the situation has further complicated following Chairman Bang PD’s request for the repayment of his loan, with full interest, by ADOR’s former CEO.

On November 21, 2024, a South Korean news outlet released an exclusive report stating that HYBE’s chairman, Bang Si Hyuk, is seeking repayment of a personal loan amounting to approximately 3.94 billion KRW ($2.8 million USD) from Min Hee Jin, the former CEO of ADOR. This total includes the initial loan of 3.7 billion KRW, provided by Bang Si Hyuk in March 2023, along with accumulated interest.

The loan was used by Min Hee Jin to purchase an 18% stake in ADOR, with the company valued accordingly. While earlier reports suggested that the purchase price for the shares was 1.1 billion KRW, the actual transaction amounted to 3.7 billion KRW, fully financed by Bang Si Hyuk.

Under South Korean law, the minimum interest rate for a personal loan issued via an IOU or promissory note is 4.6%. Consequently, the total amount Min Hee Jin owes Bang Si Hyuk as of November 2024 is estimated to be 3.94 billion KRW. This loan is a private arrangement between Bang Si Hyuk and Min Hee Jin and is unrelated to the ongoing legal dispute concerning their shareholder agreement.

Min Hee Jin is seeking to exercise her put option, valued at approximately 25.8 billion KRW ($18.5 million USD), as stipulated in the shareholder agreement. Should the court rule in her favor and validate the put option, she would likely be able to settle the loan without difficulty.

However, if the court sides with HYBE and denies her this option—potentially finding her liable for professional malpractice and breach of trust—HYBE could acquire her 18% stake at face value, currently estimated to be 2.86 billion KRW. In this scenario, Min Hee Jin would be left with a remaining debt of approximately 1.07 billion KRW.

HYBE Labels issued a brief statement addressing the matter, explaining that it is unable to provide further details as the issue pertains to a personal arrangement between Bang Si Hyuk and Min Hee Jin. The company clarified that the loan in question is separate from the legal dispute concerning the shareholder agreement and declined to elaborate further on the situation.

Source: https://www.pinkvilla.com/entertain...min-hee-jin-hybe-clarifies-its-stance-1359281

This lends even more weight to the "he felt personally betrayed" narrative.

 

[Selfmate]

This lends even more weight to the "he felt personally betrayed" narrative.

I think that is one part of what created the mess in the first place (amongst many many things)

BSH seems to like things under his control and if something gets created or developed within hybe that he doesn't have control over he doesn't like it

like to my knowledge all the previous GG under hybe "flopped" and currently the most successful GG under hybe is NJ completely created and developed by someone not him (at least on the creative side not speaking financially) so he might be a bit pissed at that

 

[RandAlThor]

I think that is one part of what created the mess in the first place (amongst many many things)

BSH seems to like things under his control and if something gets created or developed within hybe that he doesn't have control over he doesn't like it

like to my knowledge all the previous GG under hybe "flopped" and currently the most successful GG under hybe is NJ completely created and developed by someone not him (at least on the creative side not speaking financially) so he might be a bit pissed at that

and he likes a more gc hip hop style as you can see where thy moved gfriend to even.

 

[catonkatonk]

Why did he give her a loan in the first place?

 

[RandAlThor]

Why did he give her a loan in the first place?

So she could buy the 18% stake in Ador.
Dude really gave her everything and it wasn't enough.

 

[Selfmate]

So she could buy the 18% stake in Ador.
Dude really gave her everything and it wasn't enough.

he gave her money when all she really wanted was the children lol

 

[Selfmate]

Min Hee Jin’s KakaoTalk chats estimate massive penalty fee for NewJeans’ contract termination with ADOR


14


News Posted by Janie-Reign 6 hours ago 17,104
Min Hee Jin’s KakaoTalk chats estimate massive penalty fee for NewJeans’ contract termination with ADOR
AKP STAFF
m.entertain.naver.com

A speculative estimate of NewJeans' contract termination fee has surfaced via Min Hee Jin's past KakaoTalk conversations with ADOR's former deputy CEOs.

According to MyDaily, the penalty fee for NewJeans terminating their contract with ADOR could reach up to 620 billion KRW (approximately 441 million USD). This figure is based on the group's estimated monthly revenue per member, calculated at 2 billion KRW, multiplied by the 62 months remaining in their standard seven-year contract. For a single member, the penalty would amount to 124 billion KRW, and with five members, the total reaches the staggering 620 billion KRW.

As reported by Chosun.com on November 24, Min Hee Jin and two former ADOR deputy CEOs discussed this potential penalty via KakaoTalk in March of this year. The chatlog came to light during a legal dispute initiated by Min Hee Jin to block HYBE from exercising voting rights. During the trial, Min Hee Jin’s team explained that the conversation over the damage assessment was merely "a rough method to evaluate ADOR’s corporate value."

On November 13, NewJeans issued a formal notice to ADOR, threatening their contract termination over six unresolved issues. These include accusations of workplace harassment, the failure to delete leaked past photos, and inaction against HYBE staff who allegedly undermined the group. The members warned that unless their demands were addressed within two weeks, they would terminate their exclusive contract. Speculation suggests their ultimate goal may be the reinstatement of Min Hee Jin.

However, Min Hee Jin resigned from her position as ADOR’s in-house director on November 20, making her return impossible. With the November 27 deadline fast approaching for NewJeans, it remains unclear whether the situation will escalate into a lawsuit involving their penalties worth billions of KRW.

Legal experts view the case as a challenging one for NewJeans. Lawyer Cho Gwang Hee of One Law Partners told Chosun.com: “It is unclear exactly how ADOR violated the contract based on NewJeans’ demands. Unless the court finds sufficient grounds to suspend the validity of the exclusive contract, the agreement will remain in effect.”

Lawyer Cho further elaborated, “Most of the issues raised by NewJeans in their notice pertain to HYBE. While HYBE and ADOR may appear closely connected, they are legally separate entities. Misconduct by HYBE cannot be grounds to terminate a contract with ADOR.”

He also pointed out, “Calculating compensation based on the premise of NewJeans leaving the company could give the impression that NewJeans and Min Hee Jin’s team are aligned. Such remarks might evoke suspicions of tampering (illegal pre-contact) between NewJeans and Min Hee Jin, which would require further clarification.”


ADOR's reported revenue for 2022 stood at 110.3 billion KRW, according to the Financial Supervisory Service’s electronic disclosure system. NewJeans, who debuted in July 2022, still has around five years left on their initial contract.

Source: https://www.allkpop.com/article/202...e-for-newjeans-contract-termination-with-ador

 

[RandAlThor]

Min Hee Jin’s KakaoTalk chats estimate massive penalty fee for NewJeans’ contract termination with ADOR


14


News Posted by Janie-Reign 6 hours ago 17,104
Min Hee Jin’s KakaoTalk chats estimate massive penalty fee for NewJeans’ contract termination with ADOR
AKP STAFF
m.entertain.naver.com

A speculative estimate of NewJeans' contract termination fee has surfaced via Min Hee Jin's past KakaoTalk conversations with ADOR's former deputy CEOs.

According to MyDaily, the penalty fee for NewJeans terminating their contract with ADOR could reach up to 620 billion KRW (approximately 441 million USD). This figure is based on the group's estimated monthly revenue per member, calculated at 2 billion KRW, multiplied by the 62 months remaining in their standard seven-year contract. For a single member, the penalty would amount to 124 billion KRW, and with five members, the total reaches the staggering 620 billion KRW.

As reported by Chosun.com on November 24, Min Hee Jin and two former ADOR deputy CEOs discussed this potential penalty via KakaoTalk in March of this year. The chatlog came to light during a legal dispute initiated by Min Hee Jin to block HYBE from exercising voting rights. During the trial, Min Hee Jin’s team explained that the conversation over the damage assessment was merely "a rough method to evaluate ADOR’s corporate value."

On November 13, NewJeans issued a formal notice to ADOR, threatening their contract termination over six unresolved issues. These include accusations of workplace harassment, the failure to delete leaked past photos, and inaction against HYBE staff who allegedly undermined the group. The members warned that unless their demands were addressed within two weeks, they would terminate their exclusive contract. Speculation suggests their ultimate goal may be the reinstatement of Min Hee Jin.

However, Min Hee Jin resigned from her position as ADOR’s in-house director on November 20, making her return impossible. With the November 27 deadline fast approaching for NewJeans, it remains unclear whether the situation will escalate into a lawsuit involving their penalties worth billions of KRW.

Legal experts view the case as a challenging one for NewJeans. Lawyer Cho Gwang Hee of One Law Partners told Chosun.com: “It is unclear exactly how ADOR violated the contract based on NewJeans’ demands. Unless the court finds sufficient grounds to suspend the validity of the exclusive contract, the agreement will remain in effect.”

Lawyer Cho further elaborated, “Most of the issues raised by NewJeans in their notice pertain to HYBE. While HYBE and ADOR may appear closely connected, they are legally separate entities. Misconduct by HYBE cannot be grounds to terminate a contract with ADOR.”

He also pointed out, “Calculating compensation based on the premise of NewJeans leaving the company could give the impression that NewJeans and Min Hee Jin’s team are aligned. Such remarks might evoke suspicions of tampering (illegal pre-contact) between NewJeans and Min Hee Jin, which would require further clarification.”


ADOR's reported revenue for 2022 stood at 110.3 billion KRW, according to the Financial Supervisory Service’s electronic disclosure system. NewJeans, who debuted in July 2022, still has around five years left on their initial contract.

Source: https://www.allkpop.com/article/202...e-for-newjeans-contract-termination-with-ador

WOW That is the biggest number i have seen. And of course the dumb ass wrote it down. Clearly she was trying to poach the group or agency.

 

[Selfmate]

ADOR's former CEO files criminal complaint against Hybe's PR executives

SEOUL, Nov. 26 (Yonhap) -- Min Hee-jin, the former CEO of K-pop label ADOR, has filed a criminal complaint against its parent company's public relations executives, alleging misconduct related to their duties in promoting the label's girl group NewJeans, Min's representatives said Tuesday.

Min filed the complaint with Seoul's Yongsan Police Station on Monday, accusing Hybe's Chief Communication Officer Park Tae-hee and a PR director identified only as Cho of breach of duty.

The two executives belong to Hybe's shared public relations team, which handles promotional activities for artists managed by its sublabels, including NewJeans.

According to Min's representatives, the accused "not only failed to fulfill their obligations but caused significant damage to NewJeans and ADOR by downplaying the group's achievements."

"We hope the appropriate criminal penalties are imposed," they added.

The complaint is the latest development in a monthslong dispute that has shaken ADOR.

The dispute came to the surface in April when Hybe conducted a surprise audit into ADOR alleging that Min attempted to seize control of the label and its girl group NewJeans, which she has denied. In August, the pro-Hybe board of ADOR removed her from the CEO position.

The tension escalated earlier this month when NewJeans sent a demand letter to the agency, threatening to leave it unless Min was brought back as the company's CEO. Min officially resigned from ADOR's board and left the label Wednesday.

Speculation is mounting in the K-pop industry that NewJeans may seek to terminate their contracts with ADOR and leave. Industry insiders say the group could file for a court injunction to suspend their exclusive contracts with the company as early as Friday, 14 days after the company received the demand letter on Nov. 14.

Source: https://en.yna.co.kr/view/AEN20241126005000315?section=search

 

[Selfmate]

Min Hee-jin reports HYBE PR execs for causing damage to NewJeans

Former ADOR CEO Min Hee-jin has reported two HYBE PR executives for harming NewJeans by intentionally downplaying the girl group’s achievements, Min's legal representation said Tuesday.

Min filed a complaint at Yongsan Police Station in central Seoul on Monday against Park Tae-hee, HYBE’s chief communication officer, and Cho Sung-hun, leader of the corporate communication department, for breach of trust, according to her attorneys at Shin & Kim law firm.

“Despite their legal obligation to promote NewJeans as part of HYBE's shared PR service, which receives commission from ADOR, they not only failed to fulfill that role but caused significant harm to ADOR and NewJeans by downplaying their achievements,” the law firm stated in a press release.

Min stepped down from ADOR’s board and submitted her resignation on Nov. 20.

On Nov. 22, Min also filed a complaint at Yongsan Police Station against Belift Lab CEO Kim Tae-ho, its vice president and two other staff members for spreading false rumors.

Source: https://koreajoongangdaily.joins.co...-execs-for-causing-damage-to-NewJeans/2186231