Min Hee Jin Discusses Lawsuits Against HYBE: Urgent Update

URGENT UPDATE: Former ADOR CEO Min Hee Jin has addressed the ongoing legal battles involving HYBE and NewJeans (NJZ) during a live broadcast on YouTube. In a conversation with host Jung Young Jin, Min revealed critical insights into the complex situation, stating, “They filed many lawsuits,” indicating that the legal disputes have escalated significantly.

During the broadcast, Min elaborated on the multitude of lawsuits, confirming that while they are actively counter-suing, the number of legal actions has grown, causing delays in resolution. In response to questions about the exclusive contract validity lawsuit concerning NewJeans, Min clarified, “That lawsuit is not mine, so I cannot comment on it,” highlighting the intricate network of legal challenges surrounding the popular K-pop group.

Min also shed light on the put option lawsuit regarding the shareholder agreement with HYBE. “I received investment offers because they thought I had already received a large amount of money from HYBE (through put options),” she stated, emphasizing that she has not, in fact, received any funds yet. The put option amount in question is approximately ₩25.6 billion KRW (about $17.5 million USD), underscoring the stakes involved in this legal confrontation.

She further revealed that she was offered 13 times the previous year’s operating benefit if she decided to leave her position. This offer was initially in stock options before being converted to put options, reflecting the high financial expectations tied to these agreements.

The implications of these lawsuits are significant for all parties involved, particularly for the future of NewJeans and their standing within the highly competitive K-pop industry. As developments unfold, fans and stakeholders alike are left questioning the potential impact on the group’s activities and future projects.

As the situation continues to evolve, all eyes will remain on the upcoming legal decisions and how they may shape the future of both Min Hee Jin and NewJeans. Stay tuned for the latest updates as this story develops.