Police Investigation Update: HYBE and Min Hee-jin Summoned

During a routine press conference on June 17th, Commissioner Jo Ji-ho of the Seoul Metropolitan Police Agency announced that they had finished interviewing the accuser (HYBE) and that the company had submitted additional materials the previous week.

HYBE has pressed charges of breach of duty against CEO Min Hee-jin, as well as the vice president of ADOR and another individual.

The police, who are conducting the investigation, have announced that they have almost finished analyzing the additional evidence and will begin summoning the accused for questioning this week. While Min Hee-jin will not be called in this week, one of the remaining two suspects is expected to be questioned.

According to the police, if voluntary cooperation is not enough, a compulsory investigation will be conducted. However, due to the good cooperation currently being provided, the investigation is progressing sufficiently with the submission of materials and testimony.

On April 26th, they went to the Seoul Yongsan Police Station and filed a police report against Min Hee-jin and other ADOR executives for breaching their duty.

Despite holding an 80% stake in ADOR, HYBE filed a lawsuit to convene an extraordinary general meeting of shareholders with the intention of removing Min Hee-jin. In retaliation, Min Hee-jin filed an injunction to prevent HYBE from exercising their voting rights at the meeting. On May 30th, the court granted the injunction, thus allowing Min Hee-jin to continue her role as CEO.

In order to express her grievances, Min Hee-jin has called two emergency press conferences.