HYBE Accuses Min Hee Jin of Attempting to Dismantle Multi-Label Before BTS’s Comeback

HYBE charged Min Hee Jin with orchestrating the collapse of the multi-label while BTS was on active duty in the military during the hearing.

At the Seoul Central District Court, a recent hearing was held regarding the provisional injunction banning voting rights. During the hearing, HYBE (led by CEO Bang Si Hyuk and CEO Park Jiwon) and ADOR (led by CEO Min Hee Jin) provided extensive evidence to support their arguments, each presenting 60 pages of defense materials.

The ongoing intense competition between the two parties is due to the fact that the main point of contention is whether the shareholders’ agreement limits their voting rights (contract).

The agreement between HYBE and CEO Min Hee Jin specifies that CEO Min Hee Jin must use their voting rights at ADOR’s general shareholders’ meeting in order to retain their position as CEO and in-house director of ADOR for a duration of five years from the company’s establishment date.

Consequently, both parties are hastily revealing KakaoTalk exchanges and internal correspondences, as well as presenting crucial evidence that could sway public sentiment.

Min Hee Jin / Bang Si Hyuk (Photo : INSTAGRAM)

At that moment, HYBE made a significant accusation against ADOR Min Hee Jin, backed by a transcript revealing the female CEO’s “HYBE Collapse Scenario”plan. This plan aims to be completed before the return of its “Super IP”BTS, whose members are currently fulfilling their military service duties.

The multi-label informed that they had obtained a transcript of a conversation between CEO Min and Vice President L, in which they discussed their intention to acquire the management rights of ADOR on February 4. During this conversation, they also revealed their plan to undermine HYBE while it was in a vulnerable state.

“HYBE and Bang Si Hyuk will end.”

The parent company revealed that ADOR’s CEO attempted to communicate with the accountant responsible for BTS in order to damage HYBE’s confidence and terminate ADOR’s partnership.

HYBE stated that:

“CEO Min tried to contact the accountant in charge of BTS, who she had no reason to meet with. (ADOR) planned to lose HYBE’s trust and then let ADOR get out.”

HYBE interpreted this exchange between the two individuals as a deliberate attempt to undermine the multi-label system, which is the cornerstone of HYBE’s business strategy.

On April 20, during a discussion with Vice President L and Vice President S, HYBE alleged that Min was intentionally utilizing the media to reveal their album marketing tactics as a means of “pushback,”with the intention of damaging HYBE’s trust.

Min Hee Jin Reveals She Was Asked to 'Crush aespa' By HYBE Founder Bang Si Hyuk — Min Hee Jin (Photo : News1)

HYBE clarified that the representatives acknowledged that the matter was not brought up in order to find a solution, but rather to bring attention to external issues that could potentially lead the parent company to reach a compromise with Min and prevent it from becoming a significant negative news story.

HYBE holds the belief that CEO Min’s simulated scenario constitutes a grave breach of the contractual agreement between shareholders, as the representative of a subsidiary. The intent behind this action is to exert pressure in order to ascertain the validity of her intentions to pursue personal gain.