Min Hee Jin Addresses HYBE Lawsuits in Urgent YouTube Broadcast

UPDATE: Former ADOR CEO Min Hee Jin made urgent statements regarding the escalating legal disputes with HYBE during a live YouTube broadcast earlier today. In a discussion with host Jung Young Jin, Min revealed that the number of lawsuits filed against her has significantly increased, complicating the ongoing legal battle.

When prompted about the exclusive contract validity lawsuit involving NewJeans (NJZ) members, Min stated, “That lawsuit is not mine, so I cannot comment on it.” However, she expressed concern over the growing number of legal actions, stating that “while counter-suing, the number of lawsuits has increased and taken time.”

Min also addressed the contentious put option lawsuit related to the shareholder agreement, confirming that she has received investment offers based on misleading assumptions. “I received investment offers because they thought I had already received a large amount of money from HYBE through put options,” she clarified, emphasizing, “However, I haven’t actually received anything yet.”

The put option amount in question is approximately ₩25.6 billion KRW (about $17.5 million USD). Min revealed that she was offered “13 times the previous year’s operating benefit if I quit my job.” She added that the terms were similar for stock options before the shareholder agreement, which were later converted to put options.

This rapidly developing situation could have significant implications for Min Hee Jin’s future and the broader K-pop industry, particularly concerning NewJeans, a group that has garnered immense popularity since their debut.

As legal proceedings continue, all eyes will be on the outcomes of these lawsuits and how they may reshape the landscape for artists and management companies alike.

Stay tuned as we follow these urgent developments.