On November 20, 2024, Min Hee Jin announced her resignation as ADOR’s internal director, officially ending her position within both ADOR and HYBE. Her statement has stirred significant discussion, with many netizens expressing support for her decision and future endeavors.
Min Hee Jin’s Resignation Statement
Min Hee Jin released a detailed resignation letter, highlighting the reasons behind her decision and her plans for legal action against HYBE. In her statement, she emphasized her dissatisfaction with the company’s practices:
“I am resigning from my position as ADOR’s internal director today. I will also terminate my shareholder agreement and hold HYBE responsible for the violation of the agreement.
I will also take legal action against the many illegal acts committed by HYBE and its executives.
Even amid the conflict with HYBE, which started with HYBE’s illegal audit in April, which has continued for over seven months, I have done everything in my power to keep the shareholder agreement and bring ADOR back to its original state.
However, HYBE has not admitted to its wrongdoings and has shown no effort to change, so I have decided that further efforts would be a waste of time.”
Financial Implications and Legal Actions
Min Hee Jin has also exercised her put options, which could entitle her to approximately ₩25.8 billion KRW (around $18.5 million USD), as she owns 18% of ADOR’s shares. This claim is currently awaiting court approval.
The conflict between Min Hee Jin and HYBE stems from an alleged illegal audit conducted by HYBE in April 2024, a dispute that has persisted for over seven months. Despite her efforts to restore ADOR’s original state, she concluded that further actions would not be productive.
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Netizens’ Reactions
Public support for Min Hee Jin has been overwhelming. Many netizens praised her decision to stand her ground and claim her rightful financial compensation. Comments on online forums included:
- “She will definitely win the claim.”
- “Hwaiting, get all the money you can and leave.”
- “Congrats on your resignation. Let’s take the money and leave.”
- “She earned them so much money, of course she has to get this.”
- “Squeeze them dry!”
- “Hope she gets her bag and quits.”
Full Resignation Letter
The full resignation letter, detailing her grievances and plans, has been made available for public viewing.
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Source: Theqoo
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