One of the biggest entertainment agencies of South Korea, HYBE, and its subsidiary label, ADOR, have been embroiled in conflict for the past few days, with the former suspecting the latter of intending to sever ties. ADOR’s CEO, Min Hee-jin, and other officials have faced allegations of plotting to assume management rights, escalating tensions between the two entities.
Following revelations, HYBE conducted a sudden audit, and sent a letter requesting ADOR’s CEO to step down from her position. Now, on Thursday, April 25, HYBE disclosed the findings from their audit, and affirmed possessing substantial evidence demonstrating that Min Hee-jin and other officials intentionally devised plans to take over the company.
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“One of the auditees submitted digital evidence containing information about the plan to seize management control and contact outside investors and admitted that they had written documents to attack HYBE during the investigation. According to face-to-face investigations and the conversation record from the submitted digital evidence, the CEO of ADOR instructed the management team to devise ways to pressure HYBE to sell the ADOR shares it holds,” the statement said, as translated by Soompi.
The statement went on to read, “In response to this directive, specific discussions took place on ways to prematurely terminate exclusive contracts with artists and invalidate contracts between the CEO of ADOR and HYBE. Conversations such as, ‘pull in global funds and make a deal with HYBE,’ ‘critically counterattack everything HYBE does,’ and, ‘think of ways to torment HYBE’ also ensued.”
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Records of conversations that were submitted as evidence also hinted at “preparations to win over public opinions in May” as well as “take the artists and leave ADOR an empty shell.” HYBE further claimed to obtain a statement from the auditee that “the ultimate goal is to break ties with HYBE,” which were said by Min Hee-jin herself.
Relying on the evidence gathered, HYBE Labels plans to file charges against Min Hee-jin and all other implicated affiliates of ADOR for professional misconduct and other criminal offenses. Irrespective of it, HYBE will continue to support ADOR’s debut group, NewJeans, in every way possible ahead of their comeback in May.
Additionally, a legal representative of ADOR, told media outlets, “An urgent press conference will be held [today] to clarify ADOR’s official position regarding the news that was reported today,” adding, “Min Hee-jin, CEO of ADOR, will personally deliver ADOR’s position to the press.”
