Korean Media Releases Messages from Min Hee-jin and ADOR Deputy CEO: NewJeans Valued at 1,000 Billion Won+Using Media Play Against HYBE

TV Daily, a Korean media outlet, has recently published a series of messages exchanged in February between Min Hee Jin and ADOR’s Deputy CEO Lee. The messages reveal their plan to acquire ADOR from HYBE. According to Lee’s messages, their strategy must be executed before the military discharge of BTS.

Using media playback.

Lee: We need to take action before BTS returns in a year.
MHJ: LOL
Lee believes that within a year, their false beliefs about the multi-label/US market/IT platform will inevitably be destroyed. If we take action to undermine them, we can achieve our freedom.
I enjoy that.
Lee stated, “This is our plan.”
MHJ: So, if I understand correctly, you’re saying that we should utilize the media?
Lee expressed concern that if HYBE’s chart manipulation is revealed, it could lead to a loss of trust from the public. In the event that all of the resulting consequences are combined, it could greatly harm their reputation.
While HYBE is burning, it is important that we make plans for our escape. Let’s schedule a meeting with Lee XX from the media agency. I was introduced to one of their journalists by XXX, the analyst.
Lee expressed his agreement and added that he would take careful steps in preparing for the task at hand. He suggested building a personal network with accountants, competitors, investors, outside directors, investment companies, and media agencies, slowly and steadily, just like a gentle rain.
MHJ suggested that they handle the matter themselves instead of using ADOR’s name.
Our goal for February is to both establish external alliances and improve ADOR’s internal capabilities.

Find the total cost of ending the contract with NewJeans, which is estimated at over 1 trillion won.

In a separate discussion held in March, Lee and Min Hee Jin talked about the possibility of negotiating a buyout of NewJeans in order to establish the group’s independence from HYBE.

Despite the high cost of terminating the members’ contracts, which would mean leaving behind all of the group’s previous albums and advertisements with ADOR, I believe we can use this as leverage in negotiations. We can argue that the total cost of NewJeans contract termination (600 billion won), new contract cost (100 billion won), and HYBE’s initial investment of 20 billion won equals 720 billion won, which should be sufficient for a settlement price of around 800 billion won, regardless of HYBE’s initial price.
MHJ clarified that HYBE will also take into consideration the potential future profits. It’s a relief to know that despite Bang Si Hyuk and Park Ji Won’s unlucky streak, they are still willing to bid over 1 trillion won. However, it’s important to note that they have invested in a company with no current assets [t/n: Ithaca Holdings], so it’s unlikely that they will release NewJeans for 800 billion won. Perhaps we should be more realistic in our expectations.

CEO Min’s goal is to take ownership of ADOR.

Lee inquired about another investment company from a private equity fund (PEF) manager on the same day.

Lee: Hyung, have you heard about XXX’s investment? XXX refers to the president of that company.
PEF: Still not ready.
Lee: Since I don’t know the name, I assume the company is not well-known. Thank you.
PEF: This name appears to be suspicious.
Lee agreed, saying that he felt the same way.
PEF: It seems like they have some money, but do they have a substantial amount? What I can say for certain is that it’s not sufficient to come to an agreement with you.
Lee expressed his belief that they have been nominated for the investment fund by a CEO from a company that has shown great interest in the Korean entertainment industry. He further explained that based on this CEO’s opinion, it would be easier to find financial investors rather than strategic investors. According to the CEO, a financial investor would provide more freedom to the company, as opposed to a strategic investor who would seek to influence the company to their own benefit. Additionally, the CEO suggested that their ideal plan would be to secure a financial investor who agrees with the company’s strategy, and then exit or do an IPO before developing the company further. Lee shared the same sentiment and also agreed that leaving the company or terminating their contract with NewJeans would not be beneficial
Is this individual living in a fantasy world or something?
According to Lee, our claws should be concealed and we must persevere, even in the face of difficulty. In my opinion, information holds the utmost significance.

► The parents of NewJeans should take a proactive approach.

At the end of March, during their latest conversation, Min Hee Jin instructed an ADOR employee to approach NewJeans’ parents and request them to act as “whistleblowers.”

The parents will be the ones to report the whistleblower to HYBE.
ADOR K: Oh, I see.
MHJ: What is your interpretation of making an internal complaint?
Initially, I drafted the complaint with that consideration in mind. However, I am now contemplating whether it would be more beneficial to provide notification prior to filing internal complaints.
MHJ: What is the reason for this?
In my previous statement, I expressed my belief that involving parents would not benefit (NewJeans)’s image. Furthermore, I believe it would be more effective to garner public support before making any complaints public.
After some confusion, it seems that there may be contract issues if the articles are written in a way that implies our involvement. Therefore, we should approach the parents and ask them to voice their complaints before ADOR takes any action against HYBE.
I make this statement because I do not have a complete understanding of our contractual responsibilities.
I understand your perspective as an outsider, but if we do not publicly announce our plans to sell ADOR and address it internally, we will be vulnerable to being acquired. It is crucial that we take control of the situation and make our intentions known. I don’t see the benefit in discussing potential risks, as there is no avoiding them. By revealing our plans, we may face scrutiny, but that is inevitable regardless. It is in our best interest to make this announcement as soon as possible. If HYBE contacts me, we can negotiate to avoid further controversy. We will also assert our demands to them.