Min Hee-jin: "HYBE told me 'We'll give you money, so leave'"
HYBE: "Ridiculous false claim... Absurd"
Min Hee-jin, former CEO of ADOR, and HYBE are engaged in a daily battle over the truth.
On the 26th, Min spoke in an interview with JoongAng Ilbo about her dismissal as CEO, suspicions surrounding hundreds of billions in put options, and controversies over HYBE belittling NewJeans' achievements.
In the interview, Min claimed, "I was notified of my dismissal as CEO three days before the board meeting, and after winning a provisional injunction against the extraordinary general meeting in May that aimed to dismiss me, HYBE's lawyer approached me with a negotiation offer saying 'we will give you money if you accept and leave,' but I refused because money was not my goal."
She continued, "HYBE distorted NewJeans' 'Supernatural' sales in Japan as 50,000 copies, and recently I was contacted by a Billboard columnist who said HYBE's PR agency sent defamatory materials about me," adding, "The essence of this situation is a public execution for a subsidiary president openly defying the parent company's mood, a situation like a black comedy."
In response to Min's interview, HYBE issued an official statement and immediately rebutted.
First, HYBE denied ever proposing a negotiation offer to Min Hee-jin saying, "It is absurd for her to make such baseless false claims in a media interview."
They added, "Min claimed the audit was conducted 'accidentally' and 'illegally based on false facts,' but audits are not conducted accidentally," explaining, "The audit was initiated following continuous internal and external reports, and the matter is currently under serious police investigation."
Furthermore, HYBE stated, "Billboard columnist Jeff Benjamin confirmed that the claim that defamatory materials were distributed by an overseas PR agency is false," and elaborated, "Regarding NewJeans' album sales in Japan, she cleverly distorts facts by mixing shipment and sales figures. The article claiming '1.02 million copies sold only in Japan' is a huge distortion of facts. The day after the article was published, the Japan Record Association certified Gold (100,000 copies), but Gold certification is based on shipment figures."
They continued, "Min's spreading of false information through the interview reveals a serious disqualification as a manager," and added, "We hope she returns to her main duties and focuses on work for the artists and fans."
ADOR held a board meeting on August 27 and appointed Kim Joo-young, HYBE's Chief Human Resources Officer, as the new CEO. At that time, ADOR explained that Min would step down as CEO but would retain her position as an internal director of ADOR and continue producing NewJeans.
However, Min's side claimed, "This dismissal decision is illegal as it directly violates shareholder agreements and the injunction prohibiting voting rights, and the production duties were also unilaterally notified."
Subsequently, on the 11th, NewJeans held an emergency live broadcast on YouTube requesting HYBE and Chairman Bang Si-hyuk to reinstate Min as ADOR CEO by the 25th.
On the 25th, the deadline for the request, ADOR released an official statement saying, "The ADOR board discussed the demand for reinstatement as CEO today and decided it is currently not acceptable." However, regarding Min's reappointment as an internal director of ADOR, they explained, "On the morning of September 11, we already proposed to Director Min Hee-jin to produce NewJeans for the next five years," adding, "Five years is the entire remaining contract period with NewJeans."
Min immediately rebutted. Her side pointed out, "The ADOR board resolved to convene an extraordinary general meeting with the agenda of reappointing Min Hee-jin as an internal director," but added, "However, since the appointment of internal directors is decided by the major shareholder HYBE, it is currently unknown whether Min Hee-jin will be reappointed as an internal director."
They also stated, "ADOR claims that on the morning of September 11, they proposed to Min Hee-jin to produce NewJeans for the next five years, but there was only talk of extending the contract period, and no sincere proposal to delete numerous toxic clauses such as unilateral termination rights in the draft. The expression 'compromise proposal' is just wordplay," strongly demanding her reinstatement as ADOR CEO.
Meanwhile, Min is scheduled to attend as a speaker at the 'Da Vinci Motel' lecture program hosted by Hyundai Card in Itaewon, Seoul, on the evening of the 27th. Attention is focused on what stance she will take regarding her position at this event.
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