Fourth press conference since allegations of an ADOR management takeover
Min Heejin, former CEO of Ador and currently CEO of OK Records, made a public proposal to end all legal disputes with Hybe in exchange for giving up 25.6 billion won in put option proceeds.
On the afternoon of February 25, Min held a press conference at a venue in Jongno-gu, Seoul, where she announced her position on the first-instance ruling and her future plans. This was the fourth press conference she has held since allegations were raised in April 2024 that she attempted to seize management control of Ador.
At the press conference, Min expressed a bold intention to forgo the large sum she secured by winning in the first trial. She said, "I have decided to trade 25.6 billion won for another value," adding, "For most people, 25.6 billion won is an amount of money that is hard to come across even if they devote their daily lives to it, and even for me, as someone who is just making a new start, it is precious capital. However, because there is a value I earnestly desire that is more important than a huge amount of money, I am standing here today to make a meaningful proposal to Hybe."
The key condition Min proposed is the immediate termination of all ongoing civil and criminal lawsuits. She stressed, "In return for my giving up 25.6 billion won, I propose that all ongoing civil and criminal lawsuits be halted and that all disputes be brought to an end," and added, "This proposal covers not only myself personally, but also the NewJeans members, outsourced partner companies, and former Ador employees, as well as the termination of all complaints and accusations filed against the fandom."
She cited the protection of artists and the fandom as the specific reason for proposing an end to the dispute. Min said, "I cannot stand by and watch while some people stand on stage and others stand in court," adding, "Neither the members nor the fans can possibly view this situation positively." She continued, "Only when everything is brought to a close will there be no further indiscriminate noise affecting the artists, their families, and the fandom," and added, "Now that my sincerity has been proven, I want to show that there is a value more precious than money."
This proposal came immediately after the court ruled in Min's favor. On February 12, the 31st Civil Division of the Seoul Central District Court (Presiding Judge Nam Insu) dismissed the lawsuit filed by Hybe seeking confirmation of the termination of the shareholders' agreement against Min and others. At the same time, the court ordered Hybe to pay Min approximately 25.6 billion won as stock sale proceeds.
At the time, the court stated, "It can be acknowledged that Min sought ways to make Ador independent from Hybe," but added, "However, that fact alone cannot be deemed a material breach of the shareholders' agreement in this case." Nevertheless, on February 19, Hybe filed an appeal against the first-instance ruling, making clear its intention to continue the legal battle.
Min said she held the press conference "to make a meaningful proposal to Hybe, because there is a value I desire more than a huge amount of money."
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