“Min Hee-jin’s Dismissal” Interrogation Concludes in 30 Minutes+ ADOR’s Board of Directors Meeting Scheduled for Next Month

An inquiry was made regarding HYBE’s authorization to host an extraordinary general shareholders’ meeting to discuss the removal of ADOR’s CEO, Min Hee-jin.

On April 30 (KST), the Seoul Western District Court held a closed-door interrogation at 4:45 p.m. to approve the dismissal of Min. The interrogation concluded at 5:13 p.m.

According to ADOR’s lawyer Lee Won-ho (Sejong Law Firm), who attended the court for a closed-door interrogation, the comeback date for the group has been set for May and the music video has already been released. However, the issue was brought up while they were preparing for the comeback of NewJeans. Although they were not initially aware of it, they have received the information and will proceed with their plans on schedule. Lee also expressed concern about the timing of this issue being brought up.

Meanwhile, HYBE’s attorneys from Kim & Chang’s Law Firm proceeded to court without addressing inquiries from reporters.

Approximately half an hour later, ADOR’s attorney announced, “As previously determined, the board of directors’ meeting will take place on May 10th and the shareholders’ meeting will be held by the conclusion of May.”The lawyer also stated, “We will provide further notification before May 13th.”

According to HYBE’s chief legal officer (CLO) Jeong Jin-soo, since today is a day for careful consideration, we are presenting arguments from both viewpoints, and we believe it aligns with our initial thoughts.

On April 22nd, HYBE conducted an audit after discovering possible evidence that Min and the current executives of ADOR were plotting to take over management control. As a majority shareholder with an 80% stake, HYBE has the power to replace ADOR’s management team, including Min, at an extraordinary shareholders’ meeting. However, Min’s side has vehemently denied any accusations of breach of trust. If HYBE’s request is granted by the court, the shareholders’ meeting could potentially take place in as little as five weeks.