The Future of NewJeans: A Pivotal Crossroads
NewJeans stands on a precipice, faced with a pivotal decision: should they follow their mentor, Min Hee-jin, possibly incurring significant penalties, or stay the course with their current label, ADOR?
Recent Developments
On November 13, NewJeans formally requested the reinstatement of Min Hee-jin as CEO of ADOR. However, just a week later, on November 20, Min Hee-jin publicly confirmed her departure from HYBE, which closed the door on her return to ADOR. This has stirred speculation about the possibility of NewJeans severing ties with ADOR to accompany Min Hee-jin in a new entrepreneurial venture.
Potential Legal Challenges
If NewJeans opts to leave ADOR and join Min Hee-jin, they could find themselves embroiled in legal disputes regarding their exclusive contracts. Such litigation could stall their activities for an indefinite period, complicating their future endeavors. Even if the group successfully terminates their contracts, challenges regarding trademark ownership could emerge.
Currently, the “NewJeans” trademark is registered under ADOR. Legal analysts suggest that even a favorable ruling on contract termination would not guarantee the swift reclamation of this trademark. Furthermore, should NewJeans choose to remain contracted with ADOR, they could face penalties estimated in the hundreds of billions of won.
Financial Implications
The Fair Trade Commission outlines that penalties for breaking contracts are determined by multiplying the average monthly revenue from the previous two years by the remaining months on the contract. ADOR reported a revenue of 110.3 billion won last year, and with five years left on NewJeans’ contract, the financial consequences could range between 400 to 600 billion won.
Min Hee-jin’s Ongoing Connection
Despite her resignation from ADOR, Min Hee-jin continually showcases her support for NewJeans, actively sharing promotional content for the group on her personal social media accounts.
Legal Actions Taken by Min Hee-jin
On November 25, she escalated the situation by filing breach of trust charges against HYBE’s Chief Communications Officer, Park Tae-hee, and PR Director Jo, with the Seoul Yongsan Police Station. Just days prior, on November 22, she initiated defamation lawsuits against several executives at HYBE’s subsidiary, Belift Lab, including CEO Kim Tae-ho and Vice-CEO Choi Yoon-hyuk. Additionally, she has also filed a damages claim of 5 billion won against Belift Lab.
For further details, refer to the source: Naver.
For images and additional context, visit: Source & Images.
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