Min Hee-jin extends her hand “Let’s compromise”, but HYBE remains silent

This was stated by Min Hee-jin, CEO of ADOR, at the press conference on May 31, amid its ongoing dispute with HYBE, which has lasted more than a month. This follows his victory in the first round of legal battles on May 30, allowing him to retain his position as CEO for the time being. Unlike the first press conference on April 25, where CEO Min appeared with tears and harsh language, this time she took a completely different attitude. She answered questions from reporters in a refined manner and reached out to HYBE suggesting: “Let’s compromise for the common good.”

Will HYBE and Min Hee-jin compromise? The industry considers this unlikely.

HYBE did not respond on the evening of May 31. Industry insiders also see little scope for reconciliation. HYBE, owning 80% of ADOR’s shares, surrounded CEO Min by appointing HYBE CHRO Kim Joo-young, CSO Lee Jae-sang and CFO Lee Kyung-joon as ADOR’s new directors. An industry insider familiar with HYBE said: “HYBE has no intention of compromising and plans to resolve this matter through police investigations or related legal proceedings..”

HYBE still has a way to fire CEO Min. CEO Min’s legal representative, lawyer Lee Sook-mi, explained: “Even if HYBE directors call a board meeting to resolve CEO Min’s dismissal, there is no way to stop it under commercial law.» However, it is known that HYBE will respect the court decision of May 30 and will not proceed with the dismissal of CEO Min until the results of the police investigation are known.

CEO Min reiterated that she has no greed for position or money and expressed her strong desire to achieve the vision she set with NewJeans. She has indicated her intention to stay at ADOR and continue working with NewJeans. When asked if she would consider going independent with NewJeans if she was ultimately laid off, CEO Min avoided giving a direct answer.