Meeting with CEO Kim Ju-young on the 23rd... Maintaining Existing Position
HYBE "Upholding Principles and Pursuing Integrity Management"
D-DAY has arrived. The group 'NewJeans' set a deadline of the 25th, demanding the return of their producer, former Adore CEO Min Hee-jin, to HYBE. Both Min Hee-jin, the former Adore CEO, and HYBE officials are watching tensely to see what stance NewJeans will take.
Earlier, on the 11th, the five members of NewJeans?Minji, Hanni, Danielle, Haerin, and Hyein?held an urgent live broadcast on their YouTube channel. The members stated, "What we want is the original Adore where management and producing were integrated," and added, "We hope Chairman Bang Si-hyuk and HYBE will make a wise decision to normalize Adore by the 25th according to our request," demanding Min's return.
In the broadcast, NewJeans claimed, "HYBE ignored our requests for protection and we were even ostracized within HYBE." The members expressed their feelings, saying, "With the dismissal of former CEO Min Hee-jin amid these circumstances, we feel helpless," and issued a final ultimatum to HYBE to reinstate Min Hee-jin by the 25th. The Adore board dismissed Min on the 27th of last month and appointed Kim Ju-young, HYBE's Chief Human Resources Officer (CHRO), as the new CEO of Adore.
At the HYBE extraordinary shareholders' meeting held the day after NewJeans' live broadcast, HYBE's new CEO Lee Jae-sang stated, "It will take time, but we are responding calmly according to principles. HYBE is a company that adheres to principles and pursues ethical management, and there is no change in this stance."
The group NewJeans is posing at the 'SEOUL FASHION WEEK 2025 S/S' YOUSER collection held on the 3rd at Dongdaemun Design Plaza (DDP) in Seoul. [Image source=Yonhap News]
Since then, HYBE has not issued any additional statements. However, it was reported on the 23rd that NewJeans members and their parents had a meeting with Kim Ju-young, CEO of Adore. During the meeting, NewJeans reiterated the same position they expressed during the live broadcast, and Kim reportedly conveyed Adore's policy based on HYBE's stance.
The conflict between former CEO Min and HYBE, triggered by allegations of a 'management rights takeover' in April, escalated to a crisis when HYBE dismissed Min on August 27 and appointed Kim Ju-young, an internal director, as the new CEO. The trust NewJeans members have in former CEO Min goes beyond that of a company CEO or producer, resembling an almost familial bond. Although Adore stated that Min Hee-jin would continue to handle NewJeans' producing work after dismissal, Min was unilaterally notified of his dismissal by the company and refused to sign the producing delegation contract due to toxic clauses. Currently, producing by Min within the Adore system is practically impossible.
The industry views NewJeans' urgent broadcast as a stepping stone for litigation. They are presenting demands that HYBE cannot accept, and if these are not met, they plan to proceed with terminating their exclusive contract based on these grounds.
It is widely interpreted that NewJeans set the deadline for Min's return on the 25th, allowing a two-week grace period after the urgent broadcast on the 11th, to avoid legal issues.
According to Article 15 (Termination or Cancellation of Contract) of the Standard Contract for Popular Culture Artists, "If either the 'planner' or the 'singer' violates the contract terms, the other party may demand correction of the violation within 14 days. If the violation is not corrected or cannot be corrected within that period, the contract may be terminated or canceled, and damages may be claimed." If there is a justifiable reason for delay, the correction period may be extended by up to 14 days from the correction date.
However, even if the exclusive contract termination lawsuit proceeds after 14 days, if the major contract violation cited by NewJeans is the dismissal of former CEO Min, it is expected to be difficult to win the lawsuit based on that.
Separately, on the 13th, former CEO Min filed an injunction at the Seoul Central District Court to convene an extraordinary general meeting of Adore and to reappoint Adore's internal directors. The outcome, expected by the end of October, may influence the 'decision' of Min and NewJeans thereafter.
Former CEO Min is scheduled to give a special lecture at Itaewon Hyundai Card on the 27th. Currently, insiders are on high alert, waiting to see what announcements NewJeans and Min will make.
Meanwhile, the ongoing conflict between HYBE and former CEO Min is contributing to a decline in stock prices. HYBE, which broke below 170,000 won on the 12th, has been on a five-day losing streak and is trading in the 160,000 won range as of the 25th, representing a drop of over 34% compared to earlier this year.
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