Amid the ongoing dispute between Min Hee Jin, CEO of ADOR, and HYBE, there has been an announcement regarding the investment made by the major company in ILLIT versus NewJeans.
Despite the passage of a few days, the topic of Min Hee Jin’s press conference continues to generate buzz on the internet. During the conference, Min Hee Jin made accusations against HYBE, claiming they had copied NewJeans’ successful formula for ILLIT’s debut. Currently, there is ongoing discussion about the amount of money invested by HYBE in both groups.
Continue reading for a complete rundown.
Comparing HYBE’s Investments in ILLIT and NewJeans
Newsen reported on April 29, 2024 that HYBE had invested in both ILLIT (BELIFT Lab) and NewJeans (ADOR) for their debuts, revealing the amount of the investments.
During the press conference, Min Hee Jin accused HYBE of neglecting NewJeans. In response, HYBE disclosed the amount of their investment in NewJeans, which reportedly totaled 16.1 billion KRW (equivalent to approximately $11,664,390.43 USD). This investment was provided to Min Hee Jin in order to establish ADOR.
The funds received by Min Hee Jin were allocated towards the production of NewJeans’ debut, which involved flying both the members and staff overseas to film the music videos for “Hype Boy”and “Attention.”Furthermore, the money was also used for staffing fees, administrative costs, and other necessary expenses.
Despite the excitement, Kim Eo Jun and Park Si Dong, broadcasters for the news channel, disclosed the exact amount of money that ILLIT received for their first performance.
The two parties stated that ILLIT was granted a sum of 150 billion KRW (equivalent to approximately $108,675,975.00 USD). In other words, ILLIT received $97,011,584.57 more than NewJeans in USD.
This budget covers the expenses for activities that ILLIT engaged in prior to their debut. Once the line-up was finalized through the survival show “R U NEXT?”, the ILLIT members proceeded to create fresh content, such as reality shows, for their fans.
Additionally, the music video for “Magnetic”by ILLIT was shot in a foreign country.
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Min Hee Jin Denies Attempting to Seize Full Management Control of ADOR
During an urgent press briefing on April 24, 2024, ADOR CEO Min Hee Jin refuted allegations of attempting to gain complete authority over ADOR from HYBE.
She stated that there was no plan, intention, or execution of taking over the label.
Min Hee Jin referred to the situation as a “set-up to drain me financially and then destroy me,”and she expressed her exasperation, stating, “I’m not the one betraying HYBE; it’s HYBE betraying me.”
REGARDING YOU: HYBE Accused of Removing Posts Showing Support for ADOR CEO Min Hee Jin
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