Interrogation on Min Hee-jin’s Lawsuit Against HYBE’s Voting Rights Scheduled for May 17th

The Civil Affairs Department Division of the Seoul Central District Court has scheduled an interrogation for May 17th to address the injunction filed by CEO Min Hee-jin against HYBE.

On the 7th, Sejong Law Firm, the legal representative of ADOR, declared, “HYBE’s request for a general meeting of shareholders to remove Min Hee-jin from her roles as CEO and executive director goes against the terms of the shareholder agreement.”

“The injunction against HYBE, filed by CEO Min Hee-jin, aimed to prevent the exercise of voting rights regarding the dismissal of CEO and in-house director Min Hee-jin. This was done in order to protect the performance of contracts between shareholders. Additionally, Min Hee-jin has applied for provisional measures to safeguard the corporate value of ADOR and their artist, NewJeans, as HYBE’s accusation of her breaching trust is baseless.”

In the mean time, HYBE was informed by CEO Min Hee-jin and ADOR’s board of directors that they would be holding a board meeting in Seoul on the morning of May 10th. The main topic on the agenda for this meeting is organizing a general shareholders’ meeting. The current members of ADOR’s board of directors are CEO Min Hee-jin, VP Shin, and senior Creative Director Kim.

Despite holding only a minority stake in ADOR, HYBE has the power to remove CEO Min Hee-jin from the board if a shareholder’s meeting takes place. However, CEO Min has taken action to protect her position by filing an injunction to prevent HYBE from exercising their voting rights.

HYBE has accused Min Hee-jin, the female CEO, of attempting to gain control of the company and breaking trust, leading to a conflict between the two parties. On April 25th, the company filed a lawsuit against CEO Min for breach of duty at the Seoul Yongsan Police Station. The police have stated their intention to expedite the investigation in response to the intense public interest surrounding the case.