News Hybe/MHJ Civil War Megathread (2 Viewers)
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What's happening on the 30th btw?
My understanding was that this was when HYBE wanted to call a board meeting (in which they would vote to fire MHJ), but that meeting has been refused. Apparently they can go to court to force that meeting, but presumably that'll take a while...
And I think the police investigation into MHJ is a separate issue, no?
Seems to me that either way, as soon as HYBE get their meeting, MHJ is fired, but if she's fired on the basis of false evidence, she still has a claim against HYBE. This is going to go on for a long time
My understanding was that this was when HYBE wanted to call a board meeting (in which they would vote to fire MHJ), but that meeting has been refused. Apparently they can go to court to force that meeting, but presumably that'll take a while...
And I think the police investigation into MHJ is a separate issue, no?
Seems to me that either way, as soon as HYBE get their meeting, MHJ is fired, but if she's fired on the basis of false evidence, she still has a claim against HYBE. This is going to go on for a long time
there are reports that hybe managed to take the matter to court tomorrowWhat's happening on the 30th btw?
My understanding was that this was when HYBE wanted to call a board meeting (in which they would vote to fire MHJ), but that meeting has been refused. Apparently they can go to court to force that meeting, but presumably that'll take a while...
And I think the police investigation into MHJ is a separate issue, no?
Seems to me that either way, as soon as HYBE get their meeting, MHJ is fired, but if she's fired on the basis of false evidence, she still has a claim against HYBE. This is going to go on for a long time
[속보]하이브 주주총회 소집 허가 심문기일…내일 오후 4시35분
so shit stirrers...nice me likeyThe IGBAS cult will always side with chaos.
Yes, we don't care which side falls, just that a side do
you can join the Legit Shaman Man's side!!!Yes, we don't care which side falls, just that a side do
he's a shaman he should've predicted his own failure lolAgain, we side with noone.
I hope the shaman falls too
if not he's a flop of a shaman
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such a drama queen...
I think they went to court yesterday but no result for like a couple of weeks or something
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in war there is no right or wrong only winners and losers
in court there are only losers except for their lawyers - they get paid either way lol
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Shakespeare had it right.
first kill the lawyers
then make a few rules that are simple to understand.
even the cult is like
don't associate us with Hybe
www.koreaboo.com
don't associate us with Hybe
Dahn World Releases Official Statement About Accusations Of Being Linked To HYBE As A Cult
HYBE was previously accused of being involved with a cult. The said cult has since stepped up with an official statement to deny it.
www.koreaboo.com
“Distortion Of Truth” — Min Hee Jin Hits Back At HYBE’s Accusations Of Planned Termination Of NewJeans’ Contracts
ADOR releases a counter-statement against HYBE’s claims that Min Hee Jin tried to request for termination rights to steal management power.
www.koreaboo.com
Ador announced its official position through its legal representative, Sejong, on May 2nd.
Regarding the reason for deciding to announce this statement, Ador said, "Ador has not responded so far in order to protect its value and not interfere with artist activities even after HYBE's rebuttal. However, unconfirmed content continues to spread and spread to the public. “As confusion is increasing, we are delivering an official statement to provide accurate facts about the controversial areas, and we hope this will help resolve the speculations and misunderstandings.”
Ador said, “The usurpation of management rights claimed by HYBE is a vain claim with no substance,” and added, “First of all, CEO Min Hee-jin said at a press conference that the incentive, not salary, was 2 billion won. In just two years after the establishment of Ador, 33.5 billion won. As stated at the press conference, the issue raised when calculating the incentive was not the amount itself, but the criteria for determining the incentive and the transparency of the decision process. It was thought that the standards were not clear and that there was a lack of clear explanation of the process of calculating incentives, distorting the facts regarding incentives and confusing the issue by mentioning CEO Min Hee-jin's salary, incentives, and stock compensation. “I can’t help but see that CEO Min Hee-jin is trying to create a false frame that she is driven by financial desires,” he said.
Next, regarding the process of internal reporting and auditing, he said, "I would like to ask a question. What kind of listed company would publicize the details of an audit that should have been conducted privately, and even edit out content that has not been verified and report it as if it were a real-time broadcast? Moreover, The label's artist was about to make a comeback, but the exercise of this right to audit caused serious obstacles to the work of CEO Min Hee-jin and Adore members, who were working day and night ahead of New Jeans' comeback. He explained, “They claim that they are providing laptops and downloading existing data to ensure that there is no disruption to work, but this is not true, and the process of confiscating the vice presidents’ laptops without giving them time to download existing work data was also not common sense.”
Ador's side stated that HYBE's claims were not true regarding HYBE's promise to debut New Jeans as the first girl group, but not keeping the promise and debuting Le Sseraphim, as well as the fact that the company ordered the group not to promote New Jeans upon their debut.
Regarding the claim that the contract between HYBE and Min Hee-jin was not a so-called 'slave contract,' Ador said, "CEO Min Hee-jin is not denying the necessity of the non-competition clause itself. As the representative of a company engaged in the entertainment business, “I am well aware that I may be prohibited from engaging in competitive business for a certain period of time, but the target business and period of the prohibition must be reasonable, and the current shareholder agreement does not do so,” he explained.
He continued, “The irrationality of the current shareholder contract lies in the fact that CEO Min Hee-jin can be free from the non-competition clause that requires her to no longer hold stocks, and it would be natural for anyone to try to resolve this unfairness.” HYBE said. In the rebuttal, it is said that in December of last year, a response was sent saying, 'There was a difference in interpretation of the sale-related clause in the contract, and we will resolve the clause with ambiguous interpretation.' It is said that it sent a response in December last year saying that it would continue to be subject to the non-competition obligation until it disposes of all stocks with HYBE's consent, but it was not until mid-March of this year that the amendment proposal was included. “I was able to receive it,” he added.
He also expressed his official position regarding follow-up reports on other interstate contracts. Ador said, “HYBE is misleading the public by saying that CEO Min Hee-jin insisted on a 30 multiple regarding the put option, as if the current conflict was motivated by financial motives. However, the 30 multiple reflects the value of future boy group production. “It was only one of the proposals in the process of changing the contract between shareholders, which had various unreasonable elements, and it was not a priority item for negotiation,” he said.
Ador's side said, "HYBE promised an additional 10% of Ador's shares as a stock option to CEO Min Hee-jin at the time of signing the stock sale agreement and shareholder agreement in March last year. However, as a result of legal advice, the stock option was granted to Min Hee-jin, who is a major shareholder under the Commercial Act. We learned that it was impossible to grant these stock options to CEO Min Hee-jin, and that it was a matter of trust that CEO Min Hee-jin had suggested. did.
He continued, "Hive offered to release the non-competition obligation, and CEO Min Hee-jin said he refused, but this is also not true. Hive is obligated to serve for 8 years and has a non-compete obligation for 1 year after retirement, and the put option is It was proposed that the event be divided into stages according to the period, but while the shareholder contract negotiations were in progress, controversy related to Eyelet arose and CEO Min Hee-jin has not communicated his position regarding Hive's proposal. “It is not true that I expressed my intention to refuse,” he added.
In addition, Ador's side responded to HYBE's claim that Min Hee-jin relied on shamans to run the company, saying, "The success of New Jeans and the amazing performance that Ador achieved in a short period of time were based on rational management decision-making. These claims support Hive's claim that Adore's success It appears that this frame is being framed to disparage and deny Adore's sales and operating profits by preventing unnecessary expenditures, managing the budget efficiently, and increasing its value as they claim. If it is possible, why are CEO Min Hee-jin and the members of Adore working hard day and night? Hive, which is supposed to lead K-POP, tried to frame it as a personal slander that is unrelated to the issue and is not worth responding to. “It’s pathetic that it was announced right before CEO Min Hee-jin’s press conference,” he said.
Lastly, "Adore will continue to do its best to support Newgenes' activities in the future. If Hive wants to protect IP, as it has claimed, and if it truly cares about the interests of shareholders, it will stop engaging in unconvincing black propaganda and allow Adore to fully create creative content." “I hope that we will show common sense and support so that we can focus on this,” he emphasized.
Regarding the reason for deciding to announce this statement, Ador said, "Ador has not responded so far in order to protect its value and not interfere with artist activities even after HYBE's rebuttal. However, unconfirmed content continues to spread and spread to the public. “As confusion is increasing, we are delivering an official statement to provide accurate facts about the controversial areas, and we hope this will help resolve the speculations and misunderstandings.”
Ador said, “The usurpation of management rights claimed by HYBE is a vain claim with no substance,” and added, “First of all, CEO Min Hee-jin said at a press conference that the incentive, not salary, was 2 billion won. In just two years after the establishment of Ador, 33.5 billion won. As stated at the press conference, the issue raised when calculating the incentive was not the amount itself, but the criteria for determining the incentive and the transparency of the decision process. It was thought that the standards were not clear and that there was a lack of clear explanation of the process of calculating incentives, distorting the facts regarding incentives and confusing the issue by mentioning CEO Min Hee-jin's salary, incentives, and stock compensation. “I can’t help but see that CEO Min Hee-jin is trying to create a false frame that she is driven by financial desires,” he said.
Next, regarding the process of internal reporting and auditing, he said, "I would like to ask a question. What kind of listed company would publicize the details of an audit that should have been conducted privately, and even edit out content that has not been verified and report it as if it were a real-time broadcast? Moreover, The label's artist was about to make a comeback, but the exercise of this right to audit caused serious obstacles to the work of CEO Min Hee-jin and Adore members, who were working day and night ahead of New Jeans' comeback. He explained, “They claim that they are providing laptops and downloading existing data to ensure that there is no disruption to work, but this is not true, and the process of confiscating the vice presidents’ laptops without giving them time to download existing work data was also not common sense.”
Ador's side stated that HYBE's claims were not true regarding HYBE's promise to debut New Jeans as the first girl group, but not keeping the promise and debuting Le Sseraphim, as well as the fact that the company ordered the group not to promote New Jeans upon their debut.
Regarding the claim that the contract between HYBE and Min Hee-jin was not a so-called 'slave contract,' Ador said, "CEO Min Hee-jin is not denying the necessity of the non-competition clause itself. As the representative of a company engaged in the entertainment business, “I am well aware that I may be prohibited from engaging in competitive business for a certain period of time, but the target business and period of the prohibition must be reasonable, and the current shareholder agreement does not do so,” he explained.
He continued, “The irrationality of the current shareholder contract lies in the fact that CEO Min Hee-jin can be free from the non-competition clause that requires her to no longer hold stocks, and it would be natural for anyone to try to resolve this unfairness.” HYBE said. In the rebuttal, it is said that in December of last year, a response was sent saying, 'There was a difference in interpretation of the sale-related clause in the contract, and we will resolve the clause with ambiguous interpretation.' It is said that it sent a response in December last year saying that it would continue to be subject to the non-competition obligation until it disposes of all stocks with HYBE's consent, but it was not until mid-March of this year that the amendment proposal was included. “I was able to receive it,” he added.
He also expressed his official position regarding follow-up reports on other interstate contracts. Ador said, “HYBE is misleading the public by saying that CEO Min Hee-jin insisted on a 30 multiple regarding the put option, as if the current conflict was motivated by financial motives. However, the 30 multiple reflects the value of future boy group production. “It was only one of the proposals in the process of changing the contract between shareholders, which had various unreasonable elements, and it was not a priority item for negotiation,” he said.
Ador's side said, "HYBE promised an additional 10% of Ador's shares as a stock option to CEO Min Hee-jin at the time of signing the stock sale agreement and shareholder agreement in March last year. However, as a result of legal advice, the stock option was granted to Min Hee-jin, who is a major shareholder under the Commercial Act. We learned that it was impossible to grant these stock options to CEO Min Hee-jin, and that it was a matter of trust that CEO Min Hee-jin had suggested. did.
He continued, "Hive offered to release the non-competition obligation, and CEO Min Hee-jin said he refused, but this is also not true. Hive is obligated to serve for 8 years and has a non-compete obligation for 1 year after retirement, and the put option is It was proposed that the event be divided into stages according to the period, but while the shareholder contract negotiations were in progress, controversy related to Eyelet arose and CEO Min Hee-jin has not communicated his position regarding Hive's proposal. “It is not true that I expressed my intention to refuse,” he added.
In addition, Ador's side responded to HYBE's claim that Min Hee-jin relied on shamans to run the company, saying, "The success of New Jeans and the amazing performance that Ador achieved in a short period of time were based on rational management decision-making. These claims support Hive's claim that Adore's success It appears that this frame is being framed to disparage and deny Adore's sales and operating profits by preventing unnecessary expenditures, managing the budget efficiently, and increasing its value as they claim. If it is possible, why are CEO Min Hee-jin and the members of Adore working hard day and night? Hive, which is supposed to lead K-POP, tried to frame it as a personal slander that is unrelated to the issue and is not worth responding to. “It’s pathetic that it was announced right before CEO Min Hee-jin’s press conference,” he said.
Lastly, "Adore will continue to do its best to support Newgenes' activities in the future. If Hive wants to protect IP, as it has claimed, and if it truly cares about the interests of shareholders, it will stop engaging in unconvincing black propaganda and allow Adore to fully create creative content." “I hope that we will show common sense and support so that we can focus on this,” he emphasized.
The following is the full official position of Adore (CEO Min Hee-jin).
We will inform you of the exact facts regarding Hive’s claims.
We express our deep regret for once again expressing our position through news that is not about the artist at this important time when New Genes' new album was released.
During several conversations with the media, Adore requested that Hive refrain from media activities that spread issues other than the artist's news so as not to damage the value of New Genes' efforts. Hive also announced that it would not refute CEO Min Hee-jin's press conference. However, we express our deep disappointment and regret at the fact that less than a day has passed and the rebuttal has resumed through the media.
Even after Hive's rebuttal, Adore did not respond in any way to protect the artist's activities and value. However, as public confusion continues to increase due to unconfirmed issues, Adore would like to provide accurate facts about the currently controversial areas.
1. Regarding the usurpation of management rights,
the “usurpation of management rights” claimed by Hive is a vain claim without substance. Additionally, the materials presented as evidence are not for the purpose of seizing management rights, but are 'imaginations' that emerged from the ongoing conflict with Hive. I would like to clearly state once again that there were no specific plans or implementation in this regard.
As the audit began and the black public opinion war became more serious, the vice-president, who was very worried about CEO Min Hee-jin's safety, visited Hive's key executives and asked them to stop the one-sided public opinion war. However, Hive management said that now is not the time to worry about CEO Min Hee-jin, and cooperated with Hive by making remarks such as, 'How are you going to cover the damages that you, a working-level worker, will have to pay if you are cut off if you are sued?' and 'Think of your family.' I persuaded him to do it. They psychologically pressured the vice president into signing the consent form to provide information, saying, 'If you cooperate, there will be no problem.' The next day, the vice president's KakaoTalk content will be released to the media. This is a serious invasion of privacy and a violation of human rights.
Recently, CEO Min Hee-jin's legal representative checked with the Yongsan Police Station to submit a seniority statement, and confirmed that the vice-president who wrote the document was excluded from the defendant list.
Without considering the context of the conversation, Hive maliciously pieced together the conversation as if its original purpose was to seize management rights, and intentionally reported it extensively in the media. Representative Min Hee-jin's statement, "This should be Saddam," is also a patchwork of remarks that have absolutely nothing to do with the content in question.
2. Regarding financial compensation,
CEO Min Hee-jin said at a press conference that the ‘incentive’, not the annual salary, was 2 billion won. This is a reward for achieving an operating profit of 33.5 billion won in just two years after the establishment of Adore.
As she stated in her press conference, the issue raised when calculating incentives was not the amount itself, but the criteria for determining incentives and the transparency of that decision process. CEO Min Hee-jin thought that Hive's incentive decision criteria were not clear and that there was a lack of clear explanation of the incentive calculation process.
Distorting the facts regarding incentives like this and confusing the issue by mentioning CEO Min Hee-jin's annual salary, incentives, and stock compensation can only be seen as Hive's attempt to falsely frame that CEO Min Hee-jin is driven by financial desires.
We will inform you of the exact facts regarding Hive’s claims.
We express our deep regret for once again expressing our position through news that is not about the artist at this important time when New Genes' new album was released.
During several conversations with the media, Adore requested that Hive refrain from media activities that spread issues other than the artist's news so as not to damage the value of New Genes' efforts. Hive also announced that it would not refute CEO Min Hee-jin's press conference. However, we express our deep disappointment and regret at the fact that less than a day has passed and the rebuttal has resumed through the media.
Even after Hive's rebuttal, Adore did not respond in any way to protect the artist's activities and value. However, as public confusion continues to increase due to unconfirmed issues, Adore would like to provide accurate facts about the currently controversial areas.
1. Regarding the usurpation of management rights,
the “usurpation of management rights” claimed by Hive is a vain claim without substance. Additionally, the materials presented as evidence are not for the purpose of seizing management rights, but are 'imaginations' that emerged from the ongoing conflict with Hive. I would like to clearly state once again that there were no specific plans or implementation in this regard.
As the audit began and the black public opinion war became more serious, the vice-president, who was very worried about CEO Min Hee-jin's safety, visited Hive's key executives and asked them to stop the one-sided public opinion war. However, Hive management said that now is not the time to worry about CEO Min Hee-jin, and cooperated with Hive by making remarks such as, 'How are you going to cover the damages that you, a working-level worker, will have to pay if you are cut off if you are sued?' and 'Think of your family.' I persuaded him to do it. They psychologically pressured the vice president into signing the consent form to provide information, saying, 'If you cooperate, there will be no problem.' The next day, the vice president's KakaoTalk content will be released to the media. This is a serious invasion of privacy and a violation of human rights.
Recently, CEO Min Hee-jin's legal representative checked with the Yongsan Police Station to submit a seniority statement, and confirmed that the vice-president who wrote the document was excluded from the defendant list.
Without considering the context of the conversation, Hive maliciously pieced together the conversation as if its original purpose was to seize management rights, and intentionally reported it extensively in the media. Representative Min Hee-jin's statement, "This should be Saddam," is also a patchwork of remarks that have absolutely nothing to do with the content in question.
2. Regarding financial compensation,
CEO Min Hee-jin said at a press conference that the ‘incentive’, not the annual salary, was 2 billion won. This is a reward for achieving an operating profit of 33.5 billion won in just two years after the establishment of Adore.
As she stated in her press conference, the issue raised when calculating incentives was not the amount itself, but the criteria for determining incentives and the transparency of that decision process. CEO Min Hee-jin thought that Hive's incentive decision criteria were not clear and that there was a lack of clear explanation of the incentive calculation process.
Distorting the facts regarding incentives like this and confusing the issue by mentioning CEO Min Hee-jin's annual salary, incentives, and stock compensation can only be seen as Hive's attempt to falsely frame that CEO Min Hee-jin is driven by financial desires.
3. Regarding the whistleblowing and audit process,
it is said that CEO Jiwon Park responded to Adore's whistleblowing email at 10 am on April 22nd. At the same time, Hive began an audit, including confiscating the vice president's laptop. In addition, an official letter was sent at the same time requesting CEO Min's resignation and calling for a general shareholders' meeting. Then, just a few hours later, a series of news articles were reported saying that Adore's management had been granted a surprise audit. And, the next day, as if it were a live broadcast, articles about Hive's personally aggressive media activities continued. I would like to ask Hive. What was your response to CEO Heejin Min’s whistleblowing email?
I would also like to ask you another question. What kind of listed company would publicize audit details that should have been conducted privately, edit out even unconfirmed content, and report it as if it were a real-time broadcast? Moreover, the artist under the affiliated label was about to make a comeback.
This exercise of the right to audit is causing serious obstacles to the work progress of CEO Min Hee-jin and Adore members, who have been working day and night ahead of New Genes' comeback. In particular, Hive claims that it provides new laptops as soon as they are returned and downloads existing data to ensure that there is no disruption to work, but this is not true, and the vice presidents' laptops were confiscated without time to download existing work data. The confiscation process also did not make common sense.
4. Regarding Hive's promise to debut as the first girl group,
Hive has already publicly announced New Jeans as Min Hee-jin's girl group and Hive's first girl group since the 'Plus Global Audition'. This is a fact that New Jeans parents and Adore executives and employees at the time all remember as witnesses. In the end, with the recruitment of Sakura and Kim Chae-won, Le Seraphim became Hive's first girl group, and even though it turned out to be true that Hive did not keep its promise of being 'Hive's first girl group', Hive does not hesitate to make false claims. At the time, CEO Min Hee-jin gave up his shares and requested the establishment of Adore, and after enduring various disputes during the establishment, New Genes members were transferred to Adore and debuted.
Despite the truth about the New Genes debut process, Hive continues to lie about what has already happened, saying, "Due to dividing the company and transferring contracts, New Genes' debut schedule had to be delayed regardless of Hive's intentions." It is deplorable that this exists.
5. Regarding the part about not promoting New Genes upon debut,
Hive said that there were concerns that the fact that Sakura was joining Source Music and information about the composition of New Genes members would also be exposed, but this is not only untrue but also logical. It doesn't fit.
It is not explained at all what the statement that Adore's debut team is 'a team composed only of rookies' has anything to do with Sakura's joining Source Music, or what the problem is with the disclosure of Adore's debut member composition information. .
Hive made an excuse, saying, “The two teams debuted one after another and there was not enough time to sufficiently promote each other, so we decided to set a minimum promotional period for a certain period of time,” but in reality, there was no such agreement. At the time, Hive wanted to create confusion in the market that Le Seraphim might be Min Hee-jin's girl group, and as a result, CEO Park Ji-won explicitly asked CEO Min Hee-jin over the phone and through social media not to promote New Jeans to Adore. Here are the facts: Although this can be confirmed through SNS conversation records between CEO Park Ji-won and Min Hee-jin, Hive is constantly changing its words, citing unrelated reasons.
6. Regarding the claim that it was not a slave contract,
CEO Min Hee-jin is not denying the necessity of the non-competition clause itself. As a representative of a company engaged in the entertainment business, he understands that he may be prohibited from engaging in competitive business during his tenure and for certain periods thereafter. However, the business subject to the non-compete and the period must be reasonable, but this is not the case with the current shareholder agreement.
Contrary to the official position on April 25, Hive's rebuttal released on April 26, which was distributed to all media outlets, refuted the statement by disclosing part of the content, placing CEO Min Hee-jin's responsibility for informing the shareholders of the contract. .
The irrationality of the current shareholder contract lies, above all, in the fact that CEO Min Hee-jin can be free from the non-competition clause that requires her to no longer hold stocks, and it would be natural for anyone to seek to resolve this unfairness. In a rebuttal, Hive said that in December of last year, it sent a response saying, “There was a difference in interpretation of the sale-related provisions in the contract, and we will resolve the ambiguous interpretation.” The interpretation of the content is not ambiguous to any legal professional, and CEO Min Hee-jin must continue to be subject to the non-competition obligation until all stocks are disposed of with the consent of Hive. It is said that he sent a response in December of last year saying that he would resolve the ambiguous clause, but it was not until mid-March of this year that he was able to receive an amendment proposal containing that content.
it is said that CEO Jiwon Park responded to Adore's whistleblowing email at 10 am on April 22nd. At the same time, Hive began an audit, including confiscating the vice president's laptop. In addition, an official letter was sent at the same time requesting CEO Min's resignation and calling for a general shareholders' meeting. Then, just a few hours later, a series of news articles were reported saying that Adore's management had been granted a surprise audit. And, the next day, as if it were a live broadcast, articles about Hive's personally aggressive media activities continued. I would like to ask Hive. What was your response to CEO Heejin Min’s whistleblowing email?
I would also like to ask you another question. What kind of listed company would publicize audit details that should have been conducted privately, edit out even unconfirmed content, and report it as if it were a real-time broadcast? Moreover, the artist under the affiliated label was about to make a comeback.
This exercise of the right to audit is causing serious obstacles to the work progress of CEO Min Hee-jin and Adore members, who have been working day and night ahead of New Genes' comeback. In particular, Hive claims that it provides new laptops as soon as they are returned and downloads existing data to ensure that there is no disruption to work, but this is not true, and the vice presidents' laptops were confiscated without time to download existing work data. The confiscation process also did not make common sense.
4. Regarding Hive's promise to debut as the first girl group,
Hive has already publicly announced New Jeans as Min Hee-jin's girl group and Hive's first girl group since the 'Plus Global Audition'. This is a fact that New Jeans parents and Adore executives and employees at the time all remember as witnesses. In the end, with the recruitment of Sakura and Kim Chae-won, Le Seraphim became Hive's first girl group, and even though it turned out to be true that Hive did not keep its promise of being 'Hive's first girl group', Hive does not hesitate to make false claims. At the time, CEO Min Hee-jin gave up his shares and requested the establishment of Adore, and after enduring various disputes during the establishment, New Genes members were transferred to Adore and debuted.
Despite the truth about the New Genes debut process, Hive continues to lie about what has already happened, saying, "Due to dividing the company and transferring contracts, New Genes' debut schedule had to be delayed regardless of Hive's intentions." It is deplorable that this exists.
5. Regarding the part about not promoting New Genes upon debut,
Hive said that there were concerns that the fact that Sakura was joining Source Music and information about the composition of New Genes members would also be exposed, but this is not only untrue but also logical. It doesn't fit.
It is not explained at all what the statement that Adore's debut team is 'a team composed only of rookies' has anything to do with Sakura's joining Source Music, or what the problem is with the disclosure of Adore's debut member composition information. .
Hive made an excuse, saying, “The two teams debuted one after another and there was not enough time to sufficiently promote each other, so we decided to set a minimum promotional period for a certain period of time,” but in reality, there was no such agreement. At the time, Hive wanted to create confusion in the market that Le Seraphim might be Min Hee-jin's girl group, and as a result, CEO Park Ji-won explicitly asked CEO Min Hee-jin over the phone and through social media not to promote New Jeans to Adore. Here are the facts: Although this can be confirmed through SNS conversation records between CEO Park Ji-won and Min Hee-jin, Hive is constantly changing its words, citing unrelated reasons.
6. Regarding the claim that it was not a slave contract,
CEO Min Hee-jin is not denying the necessity of the non-competition clause itself. As a representative of a company engaged in the entertainment business, he understands that he may be prohibited from engaging in competitive business during his tenure and for certain periods thereafter. However, the business subject to the non-compete and the period must be reasonable, but this is not the case with the current shareholder agreement.
Contrary to the official position on April 25, Hive's rebuttal released on April 26, which was distributed to all media outlets, refuted the statement by disclosing part of the content, placing CEO Min Hee-jin's responsibility for informing the shareholders of the contract. .
The irrationality of the current shareholder contract lies, above all, in the fact that CEO Min Hee-jin can be free from the non-competition clause that requires her to no longer hold stocks, and it would be natural for anyone to seek to resolve this unfairness. In a rebuttal, Hive said that in December of last year, it sent a response saying, “There was a difference in interpretation of the sale-related provisions in the contract, and we will resolve the ambiguous interpretation.” The interpretation of the content is not ambiguous to any legal professional, and CEO Min Hee-jin must continue to be subject to the non-competition obligation until all stocks are disposed of with the consent of Hive. It is said that he sent a response in December of last year saying that he would resolve the ambiguous clause, but it was not until mid-March of this year that he was able to receive an amendment proposal containing that content.
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