[The Editors' Verdict] Parasyte and Min Hee-jin

Do Not Separate Individual and Organizational Achievements

The leader of the parasites appearing in the Netflix series Parasyte: The Grey believes that human strength is greater when it exists as an organization rather than as an individual. The perspective that humans are stronger than parasites because of their organization struck me as impressive. At that moment, I found myself reconsidering the recent dispute between Min Hee-jin, CEO of ADOR, and HYBE from the viewpoint of 'individual' versus 'organization,' which has been a hot topic in the market lately.

Min CEO has emphasized in interviews that her achievement (NewJeans) is the result of her 'pure personal ability,' independent of HYBE, the industry leader. However, the reporter’s opinion differs. While Min CEO’s ability is outstanding, the success (NewJeans) likely shone brighter because of HYBE’s infrastructure.

[Image source=Yonhap News]

On HYBE’s stock bulletin board, a post caught attention stating, "If you give interviews as if you could have created (NewJeans) without HYBE, what about the employees and shareholders who supported you?" Those with employee verification marks also posted in the community that HYBE’s capital and infrastructure played a significant role in NewJeans’ success. The reason the organization’s achievements are not attributed solely to one individual’s ability is that it is the result of countless interlocking gears working together.

An individual can accomplish what is difficult alone by working within an organization. When the goals of the individual and the organization align, an ideal and progressive relationship can develop. Disputes can arise because they are in an interdependent relationship but sometimes also in opposition. This is because the organization’s goals and the individual’s desires exist separately.

The reason Min Hee-jin (individual) and HYBE (organization) clashed is the same. After NewJeans’ success, Min CEO sought greater compensation (put options) driven by her desire for 100% credit for the achievement, while HYBE rejected this to minimize harm to company profits, sparking the dispute. If Min CEO exercises the put options on her ADOR shares, HYBE must buy her shares at 13 times the average operating profit of the exercise year and the previous year, which currently amounts to about 100 billion KRW. It is reported that Min CEO demanded to increase the put option multiplier from 13 to 30 times and requested put options on shares that were not originally subject to them. She also requested deletion of contract clauses that prevent selling owned shares without HYBE’s consent. HYBE found it difficult to remove the transfer restriction clause designed to prevent secret stock transfers and rejected the increase in the put option multiplier. They said they would consider put options on the remaining shares with a different grant timing.

The negotiations failed, and HYBE accused Min CEO of breach of trust. This is because the 'shareholders’ agreement' likely includes a call option clause allowing HYBE to repurchase Min CEO’s shares at a low price if there are grounds such as breach of trust or dismissal.

Ultimately, this dispute was triggered by an organizational member whose excessive self-awareness of 100% personal achievement led to greed, and an organization that judged such behavior as an attempt to seize management rights and cause harm to the company, resulting in confrontation.

Min CEO herself must realize that NewJeans is not a possession created solely by her ability. Separating individual and organizational achievements to wage a public relations battle does not help the artists either. The expression 'my kids' frames NewJeans merely as idols produced through thorough planning. HYBE should stop indiscriminately revealing issues unrelated to the dispute, such as 'shamanistic management,' which provokes the public, and legally resolve the core issue of the 'attempted management rights seizure' that obscures the essence of the incident.