Min Hee-jin Reaches Out “Let’s Compromise,” But HYBE Remains Silent

This was stated by Min Hee-jin, CEO of ADOR, during the press conference on May 31, amid its ongoing dispute with HYBE, which has lasted for 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 in tears and made harsh remarks, 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 reach a compromise? The industry believes this is unlikely.

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

HYBE still has a way to fire CEO Min. CEO Min’s legal representative, attorney 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 is not greedy for position or money and expressed a 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 freelance with NewJeans if she was ultimately laid off, CEO Min avoided giving a direct answer.