URGENT UPDATE: Former ADOR CEO Min Hee Jin has addressed the escalating legal battles with HYBE during a live broadcast on YouTube. In an exclusive interview with host Jung Young Jin, Min revealed critical insights into the multiple lawsuits that have emerged, stating, “They filed many lawsuits,” and noted that the counter-suing has complicated matters, increasing the number of cases and extending the timeline significantly.
The discussion took a sharp turn when the topic of the exclusive contract validity lawsuit involving NewJeans (NJZ) members arose. Min clarified, “That lawsuit is not mine, so I cannot comment on it,” emphasizing her separation from that particular legal issue.
However, the spotlight was firmly on the contentious put option lawsuit related to the shareholder agreement. Min disclosed that the put option amount is approximately ₩25.6 billion KRW (about $17.5 million USD), revealing, “I received investment offers because they thought I had already received a large amount of money from HYBE through put options.” She further clarified, “However, I haven’t actually received anything yet,” indicating that speculation surrounding her compensation is unfounded.
Min elaborated on the stakes, stating, “I was offered 13 times the previous year’s operating benefit if I quit my job.” She noted that while the compensation was similar to stock options before the shareholder agreement, it was later converted to put options, complicating her financial landscape.
This unfolding legal drama not only impacts Min but also raises questions about the future of NewJeans and their relationship with HYBE. As the lawsuits continue to develop, the music industry watches closely, with potential ramifications for artists and executives alike.
As of now, no resolution is in sight, with the legal disputes likely to intensify. The public and fans are urged to stay tuned for updates on these significant developments as they unfold. This situation highlights the intricate dynamics of the K-pop industry and the legal complexities that accompany it.
For those following the story, the implications of these lawsuits could reshape the future trajectory of both Min Hee Jin and the NewJeans collective, making this a critical moment in K-pop history.
