HYBE has been engaged in a feud with ADOR CEO Min Hee Jinfor the past few days. They launched an audit against her on April 22, 2024. On April 25, 2024, after her explosive press conference, HYBE released the interim results for the conference. They sent off the following to various media outlets with the starting note as below.
Hello, this is HYBE.
On April 25, we will be announcing the interim (midway) results for the audit that HYBE is currently in the process of carrying out against our label, ADOR, for attempts on trying to usurp management power.
Through the audit, we have verified the detailed facts and secured physical evidence that ADOR CEO Min Hee Jin led the charge in setting up plans for the coup. We will send you additional related press materials. Thank you.
— HYBE
Their announcement contained the following press kit.
Interim Results Announcement About ADOR’s Attempts at Usurping Management Rights From HYBE
Contact with external investors, looked into ways to terminate existing artist contracts, secured physical evidence and testimonies.
Secured conversation log that discusses plans to put this to fruition, including the line “let’s turn ADOR into an empty shell and take [the members] and leave.
On April 25, we announce the interim (midway) results for the audit that HYBE is currently in the process of carrying out against our label, ADOR, for attempts on trying to usurp management power.
Through the audit, we have verified the detailed facts and secured physical evidence that ADOR CEO Min Hee Jin led the charge in setting up plans for the coup.
As evidence, one the audit targets admitted that he submitted information assets containing plans to take over management rights in contact to outside investors, and that he also wrote things that could be used in attack against HYBE.
According to the face-to-face investigation results and transcripts found in the submitted information assets, ADOR’s CEO instructed the management board to come up with a way to pressure HYBE to sell their stakes in ADOR.
According to this instruction from ADOR’s CEO, there were specific discussions held on ways to terminate ongoing exclusive contracts for artists, and how to terminate the contract between the CEO of ADOR and HYBE. There were also conversations such as “Let’s get global funding and make a deal with HYBE,” “Appeal using critical things about everything HYBE does,” and “Think about how to torture HYBE.”
The transcripts also included action plans such as “Preparing for a media play war in May” and “turn ADOR into an empty shell, take [the members] and leave.”
Hive also secured a statement from the audit target that “they wrote down the words they heard personally from the CEO of ADOR, ‘ultimately we will leave HYBE’”.
Based on the data, HYBE plans to file a charges against those involved on the 25th on charges of professional breach of trust.
HYBE plans to do its best to provide psychological and emotional care for the members of NewJeans in the future and for their successful comeback. It also plans to meet with the members’ legal representatives as soon as possible to discuss ways to protect them.
Park Ji Won, the CEO of HYBE, said, “We apologize to fans, artists and members for causing concern with what happened in the process of polishing our multi-labels system.” adding, “When the case is over, we will do our best to heal the mind and stabilize the emotions of artists, whom are valuable assets of K-pop.”
— HYBE
Meanwhile, you can read more on the case form Min Hee Jin’s point-of-view below.
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