HYBE, Min Hee-jin spar over alleged proof of plans to “seize management” of ADOR

South Korean leisure big HYBE has claimed that it has discovered proof that ADOR CEO Min Hee-jin is attempting to “seize management” of the Ok-pop company, whereas the latter has described such a transfer as “unattainable”.

HYBE and Min Hee-jin have been in an more and more public feud and energy wrestle over ADOR, the Ok-pop company that’s finest generally known as dwelling to Ok-pop lady group NewJeans. The dispute was made public on Monday (April 22), after South Korean media reported that HYBE had launched an investigation in opposition to Min over alleged plans to take possession of the label.

HYBE CEO Park Ji-won has since claimed that it has found proof that Min and different ADOR execs had plans to “seize management of the corporate” in an electronic mail to workers, per Yonhap News Agency, including that HYBE would “take acceptable actions after confirming extra [of the truth] by means of this audit”.

Park added that HYBE’s present prime precedence is on “protecting its artists and different members secure”. The CEO additionally urged the administration of NewJeans to “train additional warning to forestall the artists from being affected by this incident”.

In his electronic mail, Park additionally claimed that the alleged takeover plans have been “set in movement lengthy earlier than [K-pop girl group] ILLIT made their debut”. Notably, Min Hee-jin had beforehand accused HYBE of copying the ideas and parts from NewJeans to create ILLIT, saying that her actions to “protect” the achievements of NewJeans have been being “twisted [into] makes an attempt to usurp its administration rights”.

In a separate interview with South Korean media, per CNA, Min additionally claimed that she has by no means “met with any investor to take over administration rights of ADOR”. The music govt alleged that it’s “unattainable” for her to take management of the corporate so “with out consent” from HYBE, which owns 80 per cent of the Ok-pop company. Min owns 18 per cent of ADOR, with the remaining two per cent held by different executives of the corporate.

The ADOR CEO additionally alleged that she was “out of the blue notified of my dismissal” after elevating considerations over the similarities between ILLIT and NewJeans. “If cash was the objective, we might not have raised these points within the first place,” she claimed.

An unnamed deputy CEO of ADOR has additionally since claimed in an interview with Yonhap News Agency that the alleged proof discovered by HYBE are nothing greater than “private reflections” in regards to the “long-standing conflicts between Hybe and ADOR”. The deputy CEO additionally claimed the paperwork “haven’t been mentioned with Min and different ADOR executives”.

“I deeply remorse that mere private reflections, that are not more than a ‘memo’ degree of writing that has by no means been carried out, have been leaked to HYBE and portrayed in numerous information articles as in the event that they have been an inside doc for a grand conspiracy, simply because they have been saved on an organization laptop computer,” the music govt added.

Regardless of the present feud between HYBE and ADOR, NewJeans will reportedly nonetheless transfer forward with their plans to launch new music in Might. Final month, the Ok-pop lady group introduced the upcoming launch of two single albums and a world tour in 2025.

In the meantime, the inventory worth of HYBE has tumbled for the reason that begin of its dispute with ADOR. It first fell by practically 9 per cent on Monday, after information of the feud first broke, earlier than falling an additional 1.18 per cent on Tuesday.