Min Hee-jin, the former CEO of HYBE’s record label ADOR, has resigned as an in-house director at the company and published an open letter in which she claimed HYBE’s behavior toward her was retaliation for her attempts to expose inappropriate behavior in K-pop Inside the giant.
Min’s resignation letter was made public on Wednesday (November 20), a week after new jeans – the girl group produced by Min and the main artist of ADOR – issued an ultimatum to their record label, giving Min 14 days to reinstate her position as CEO of Ador.
“Today, I resign as an internal director of ADOR. In addition, I will terminate the shareholders agreement with HYBE and intend to pursue HYBE’s legal liability for violating the agreement.
“In addition, I will take necessary legal actions one by one for the numerous illegal acts committed by HYBE and its affiliates.”
The letter did not clarify what “illegal activities” Min accused HYBE of engaging in.
Min owns 18% Shares of ADOR. according to Korea JoongAng IlboMin earlier notified HYBE that she planned to exercise her contractual option to sell her shares in ADOR.
Min’s shareholder agreement with HYBE gives her the right to sell her company shares to HYBE on demand for a price equal to three-quarters of ADOR’s average operating profit over the past two years multiplied by 13, JoongAng Ilbo the report said.
go through centralFor the calculation, Min will collect 26 trillion won ($18.6 million) if she exercises her option in full.
Min’s statement comes a week after five members of NewJeans – Minji, Hanni, Danielle, Haerin and Hyein – sent a legal notice to ADOR stating that they would terminate their contract within 14 days unless the label marked “Correction ” label.[ies] All serious breaches of exclusive contracts.
These include calls for Min Hee-jin to be reinstated as CEO of ADOR and to be allowed to resume her duties as producer of NewJeans.
“HYBE’s actions in 2024 will be recorded as an unprecedented event in K-pop history.”
Heejin’s thoughts
The notice read: “Let Ador return to the era of happy cooperation between NewJeans and Min until March 2024.” korea times. “We miss NewJeans creating new, creative music and performances with her.”
NewJeans’ ultimatum expires on November 27.
The conflict began in April last year, when HYBE conducted an internal audit of ADOR, accusing Min of trying to seize control of the brand by selling stock and leaking confidential information.
Shortly thereafter, HYBE filed legal proceedings against Min, saying it had obtained “physical evidence” proving that Min had formulated a “plan to seize the operating rights of ADOR.”
It is understood that Min was dissatisfied with the behavior of another HYBE brand, BeLiftLabaccusing the label of copying NewJeans’ style when creating the girl group you.
According to news reports at the time, citing industry insiders, Min believed that ILLIT was a blatant “copycat” of NewJeans. In a statement obtained by local media, Min claimed that “it is ironic that the cultural success of ADOR NewJeans has been undermined by HYBE.”
In August, HYBE dismissed Min as CEO of ADOR and replaced him with Kim Joo YoungHR Executive at HYBE. The company offered to let Min continue as a producer on NewJeans, but Min rejected the offer, calling HYBE’s contract terms “unreasonable.”
Min took the matter to court and requested an order to reinstate ADOR as CEO. In October, the Seoul Central District Court rejected Min’s request, saying it was “inappropriate due to a lack of legitimate interests” and that there was “insufficient evidence to prove the rights that should be protected.”
However, HYBE agreed to extend Min’s term as a director on ADOR’s board of directors.
Min declared in the letter, “HYBE’s actions in 2024 will be recorded as an unprecedented event in the history of K-pop.”
She concluded her letter by thanking NewJeans fan club Bunnies and many others who have tirelessly provided support and encouragement over the past six months.
according to JoongAng Ilbothe Bunnies group has filed a complaint and police report against HYBE on behalf of NewJeans and Min.
As of Wednesday, HYBE had not received Min’s formal resignation letter. JoongAng Ilbo reported.
The full text of Min’s letter is below (via Soompi.com)
Hello everyone, my name is Min Hee Jin.
Today, I resign as an internal director of ADOR.
In addition, I will terminate the shareholders agreement with HYBE and intend to pursue legal liability against HYBE for breach of this agreement.
In addition, our company will take necessary legal actions one by one against the numerous illegal acts of HYBE and its affiliated companies.
Despite the hellish dispute with HYBE that lasted for more than 7 months starting with HYBE’s illegal audit in April, I have made every effort to uphold the shareholder agreement and restore ADOR to its pre-April status. However, HYBE has neither admitted its wrongdoing nor shown any signs of change, leading me to conclude that further efforts would be a waste of time.
I originally hoped that HYBE would admit its mistakes and work tirelessly to protect the NewJeans inside HYBE that had become twisted. That’s why I sent an internal reporting email twice in April.
However, instead of reflecting, HYBE fabricated absurd lies and publicly demonstrated its shameful illegal auditing behavior. This is unprecedented stupidity. They framed me, a minority shareholder and CEO, on bizarre charges of “management takeover” and launched incredibly ignorant and irrational attacks from a large company.
After many twists and turns, it was finally proven that my report was based on undeniable facts and was a legitimate report, and HYBE’s ugly lies and hypocrisy are being exposed one by one.
In fact, HYBE probably knew from the beginning that what I reported was true and that my concerns were reasonable.
However, for those who prioritize their own interests and advancement, the very nature of “problem solving” is the task they most want to avoid.
I didn’t expect them to repent, but I believed they would at least have a basic human conscience. Now it seems this was a naive misjudgment.
Just as simply breathing does not mean one is truly alive, I did not want to grab money and fit into this twisted organization.
HYBE continued to use its labels to engage in unreasonable lawsuits, nitpicking, and unfair media hype to bury me. At the same time, it also hypocritically presented a production entrustment contract full of toxic clauses, as if it had done me a big favor.
They insist on discussing the core R&R (roles and responsibilities) of the entrustment contract, and at the same time put forward incomprehensible conditions such as consent for evidence collection before the discussion, and only insist on face-to-face meetings without providing R&R documents, which is nonsense. .
Although they unilaterally fired me, they spread false information to the media that I had resigned as CEO to assume production responsibilities. I’m no longer surprised that those spreading false information are so shameless in demanding “secrecy” from others.
HYBE’s actions in 2024 will be recorded as an unprecedented event in K-pop history.
Over the past seven months, I have devoted all my mental, financial and physical energy to reviving ADOR, which was hit hard by HYBE’s serious breach of the shareholders’ agreement.
It was a hell of a battle against the unwarranted violence of an organization masquerading as a major corporation, but I didn’t back down and gave it my all.
HYBE’s moral decay has reached its peak, and while their dirty media game will continue, I’m not worried because the public is probably aware of their pattern.
But if any force or media unfairly slanders me, I will not stand idly by and will take legal action.
This unprecedented event is not over yet, but I would like to express my sincere gratitude to many people, including the Bunnies (the name of the NewJeans fan club), who have tirelessly supported and cheered me on for nearly half a year.
Ironically, through this battle with the worst company, I have met the best people, which is a special blessing.
Maybe some people don’t understand why I persist for so long, but there is a reason and meaning for people like me to exist in this world.
I hope you guys will continue to show interest in my new journey in K-pop.
I end this post with a sense of relief and share these words with a few people:
“One person’s malicious behavior should never tarnish the essence of the profession. It is simply wrong.
Heejin’s thoughtsglobal music business
