"Hive's Unilateral Breach of Promise Sparks Conflict"
"NewJeans Copy is the Trigger"
"18% Stake Cannot Seize Management Rights"
Min Hee-jin, CEO of ADOR, revealed that "HYBE decided to debut their first girl group as NewJeans but broke their promise," stating that HYBE's unilateral breach of agreement was the starting point of the conflict.
On the 26th, Min appeared on CBS Radio's 'Kim Hyun-jung's News Show' and said, "Beyond feeling hurt, I had my own standards that this was not ethical." She added that ADOR's issue raised about the rookie group ILY:1 copying NewJeans' concept was "a slight trigger" for the current situation.
Min Hee-jin, CEO of ADOR, is making a statement on the 25th at the Korea Conference Center in Seocho-gu, Seoul, regarding the conflict with the parent company HYBE. Earlier, HYBE announced the results of an interim audit on ADOR's management, including CEO Min Hee-jin, and stated that they would file charges against them for breach of duty and other allegations. Photo by Kang Jin-hyung aymsdream@
Regarding HYBE's claim, based on Min's KakaoTalk conversations, that she attempted a "hostile takeover," she said, "Context is important in every conversation, but they revealed someone else's KakaoTalk messages without context," adding, "They excluded how I felt or the situation in which I spoke."
Furthermore, she stated that a takeover was impossible since Bang Si-hyuk, HYBE's CEO, holds 80% of ADOR's shares. She explained, "No matter how hard I try, I need HYBE's approval. So with my 18% stake, I can't do anything. Even if I brought someone in, HYBE's confirmation is required."
When asked about the specific plan for HYBE to sell its ADOR shares to entities like the Singapore Investment Corporation (GIC) or the Saudi Public Investment Fund (PIF), she said, "There are other conversations involved, and I don't know much about this field," adding, "Operational management and M&A or investments are completely different areas. I am a complete novice in this part."
Regarding ADOR's claim that rookie group ILY:1 copied NewJeans' concept, she explained, "Now is an era of re-creation where it's about how to collage and harmonize with one's own individuality. Simply put, because we live in such an era, it's hard to say something is absolutely mine, but ILY:1 and NewJeans have similar formulas," adding, "I raised the issue because I think the formula regarding the group's appearance and vibe is problematic."
Min said, "HYBE is engaging in a smear campaign," adding, "They are trying to portray Min Hee-jin as someone greedy for money by claiming a hostile takeover, and they are cruelly attacking me one by one by exploiting public prejudice against me?first my character, then my personality, then something else."
Additionally, Min said that this dispute has strengthened her bond with the NewJeans members. She said, "I wondered if I should really die? There was a moment when something felt a bit off," adding, "But at that time, the kids called me like ghosts. I thought their comfort wouldn't help, but they cried and kept saying they loved me, and the feeling of wanting to die passed. I'm not saying this to 'pity' NewJeans; I'm telling the truth."
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