BREAKING NEWS: Former ADOR CEO Min Hee Jin has addressed the escalating legal battles involving NewJeans (NJZ) and HYBE during a live broadcast on YouTube. In a candid discussion with host Jung Young Jin, Min revealed critical insights into the multiple lawsuits filed against her and the ongoing controversy surrounding the exclusive contracts of NJZ members.
Min disclosed that the number of lawsuits has surged, stating, “They filed many lawsuits,” and acknowledged that this has complicated the situation: “While counter-suing, the number of lawsuits has increased and taken time.” This legal web has captured the attention of fans and industry insiders alike, highlighting the tumultuous landscape surrounding one of K-pop’s hottest acts.
When questioned about the validity of the exclusive contract lawsuit involving NJZ, Min took a step back, emphasizing, “That lawsuit is not mine, so I cannot comment on it.” Her careful wording signals the ongoing complexities and sensitivities surrounding the case, which has implications not only for NJZ but also for the broader K-pop industry.
In a shocking revelation, Min addressed the put option lawsuit tied to shareholder agreements, stating, “I received investment offers because they thought I had already received a large amount of money from HYBE (through put options).” However, she clarified, “I haven’t actually received anything yet.” This statement raises questions about the financial dealings within HYBE and its impact on corporate governance.
The amount in question is staggering, with Min disclosing that the put option is valued at approximately ₩25.6 billion KRW (about $17.5 million USD). She further revealed that she was offered “13 times the previous year’s operating benefit if I quit my job,” indicating the high stakes at play. The financial intricacies of these deals add a layer of urgency to the situation, as stakeholders await clarity on the outcomes of these disputes.
This unfolding drama not only affects the parties involved but also resonates deeply with fans and the K-pop community, who are closely monitoring every development. The continued legal battles are expected to influence the future of NJZ and the strategic direction of both ADOR and HYBE.
As the situation develops, industry experts and fans alike will be watching closely. What will be the next steps for Min Hee Jin and NJZ? Will they find resolution in the face of these mounting legal challenges? Stay tuned for updates as this story unfolds.
