Former ADOR CEO Min Hee-jin proposed that HYBE drop all ongoing lawsuits involving her and its girl group NewJeans in exchange for her forgoing the 25.6 billion won ($17.7 million) payment from the company.
The unconventional and highly public proposal by Min, who recently established a new label called ooak records, was delivered during a notably brief press conference in Jongno District, central Seoul, on Wednesday. The event, which lasted just six minutes, came after her court victory against HYBE.
“The reason I stand here today is to say that I have decided to exchange the 25.6 billion won [...] for another value,” Min said, reading her prewritten statement. “Because there is something that I desire far more than this great sum of money, I called this press conference to make a meaningful proposal to HYBE.”
Demanding HYBE withdraw all ongoing legal disputes involving her and the members of NewJeans, as well as ADOR’s employees and former external partners, Min said, “I hope this decision to exchange the 25.6 billion won for another value will impact the overall development of and unity within the K-pop industry.”
She then directly addressed HYBE founder Bang Si-hyuk: “I say this to HYBE and Chairman Bang Si-hyuk — let us meet through our work, through music and creation.”
After delivering the six-minute speech, Min immediately left the venue, prompting some journalists on site to angrily voice their complaints regarding the lack of a Q. and A. session or any additional remarks beyond the prepared script.
Ji-Am lawyer Kim Sun-woong, who represents Min and spoke at a previous press conference on Jan. 28, also attended Wednesday’s event but departed shortly after Min’s exit.
On Feb. 12, the Seoul Central District Court’s civil division sided with Min over HYBE in a lawsuit centered on a shareholders’ agreement and effectively ordered the company to pay her between 25.5 billion won and 25.6 billion won in put option proceeds.
HYBE subsequently filed an appeal against the decision and also successfully sought a stay of enforcement, delaying the payment until the legal dispute is finalized.
Beyond the 25.6 billion won case, Min is also currently directly involved in a damages suit filed by HYBE’s subsidiary Belift Lab, which manages the girl group ILLIT, and Source Music, which represents the girl group Le Sserafim.
[FYI: the first lawsuit is done and dusted however Hybe is appealing the second lawsuit]
Additionally, HYBE recently filed a 43.1 billion won damage suit against Min, former NewJeans member Danielle Marsh and a member of Marsh’s family.
The event on Wednesday marked Min’s third official press conference, following a bombshell two-hour briefing on April 25, 2024, right after the high-profile feud between Min and HYBE began. The second occurred on May 31, 2024.
After a Seoul court ordered the NewJeans members to return to ADOR in a ruling back in November last year, ADOR confirmed that members Haerin, Hyein and later Hanni rejoined the once-estranged label. But the company announced the termination of its exclusive contract with Marsh on Dec. 29 last year. Minji’s return, despite her stated willingness to resume activities as NewJeans, is yet to be officially confirmed.
The unconventional and highly public proposal by Min, who recently established a new label called ooak records, was delivered during a notably brief press conference in Jongno District, central Seoul, on Wednesday. The event, which lasted just six minutes, came after her court victory against HYBE.
“The reason I stand here today is to say that I have decided to exchange the 25.6 billion won [...] for another value,” Min said, reading her prewritten statement. “Because there is something that I desire far more than this great sum of money, I called this press conference to make a meaningful proposal to HYBE.”
Demanding HYBE withdraw all ongoing legal disputes involving her and the members of NewJeans, as well as ADOR’s employees and former external partners, Min said, “I hope this decision to exchange the 25.6 billion won for another value will impact the overall development of and unity within the K-pop industry.”
She then directly addressed HYBE founder Bang Si-hyuk: “I say this to HYBE and Chairman Bang Si-hyuk — let us meet through our work, through music and creation.”
After delivering the six-minute speech, Min immediately left the venue, prompting some journalists on site to angrily voice their complaints regarding the lack of a Q. and A. session or any additional remarks beyond the prepared script.
Ji-Am lawyer Kim Sun-woong, who represents Min and spoke at a previous press conference on Jan. 28, also attended Wednesday’s event but departed shortly after Min’s exit.
On Feb. 12, the Seoul Central District Court’s civil division sided with Min over HYBE in a lawsuit centered on a shareholders’ agreement and effectively ordered the company to pay her between 25.5 billion won and 25.6 billion won in put option proceeds.
HYBE subsequently filed an appeal against the decision and also successfully sought a stay of enforcement, delaying the payment until the legal dispute is finalized.
Beyond the 25.6 billion won case, Min is also currently directly involved in a damages suit filed by HYBE’s subsidiary Belift Lab, which manages the girl group ILLIT, and Source Music, which represents the girl group Le Sserafim.
[FYI: the first lawsuit is done and dusted however Hybe is appealing the second lawsuit]
Additionally, HYBE recently filed a 43.1 billion won damage suit against Min, former NewJeans member Danielle Marsh and a member of Marsh’s family.
The event on Wednesday marked Min’s third official press conference, following a bombshell two-hour briefing on April 25, 2024, right after the high-profile feud between Min and HYBE began. The second occurred on May 31, 2024.
After a Seoul court ordered the NewJeans members to return to ADOR in a ruling back in November last year, ADOR confirmed that members Haerin, Hyein and later Hanni rejoined the once-estranged label. But the company announced the termination of its exclusive contract with Marsh on Dec. 29 last year. Minji’s return, despite her stated willingness to resume activities as NewJeans, is yet to be officially confirmed.
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