HYBE Declares Reconciliation with Min Hee-jin Impossible

Min Hee-jin, former CEO of ADOR, proposed to HYBE that she would forgo her 25.6 billion won put option in exchange for the termination of all legal disputes. However, HYBE appears to be effectively rejecting this offer. HYBE has filed for the cancellation of compulsory execution related to the claim for the stock sale price against Min Hee-jin and others. They had already filed for suspension of compulsory execution along with an appeal against the first-instance ruling, and the court accepted this, leading to the suspension of compulsory execution.

Unlike the suspension of compulsory execution, the cancellation of compulsory execution permanently bars the execution process, indicating how seriously HYBE views this lawsuit. Previously, the first-instance court dismissed HYBE's claim and ruled that Min Hee-jin's exercise of her put option was legitimate, ordering the payment of approximately 25.5 billion won.

Min Hee-jin announced at a press conference, along with the first-instance victory, that "I have decided to exchange the 25.6 billion won I will receive as a result of this victory for other values." She stated that it was "​for the members of NewJeans" and proposed that instead of taking the 25.6 billion won, "​I propose to immediately halt all ongoing civil and criminal lawsuits and end all disputes." This proposal includes the cessation of all lawsuits and complaints not only against individuals but also towards NewJeans members, partner companies, employees, and the hurt fandom.

Min Hee-jin also expressed her hope that "this decision to exchange the large sum of 25.6 billion won for other values will be sublimated into the overall development and harmony of the K-pop industry." She emphasized, "​The place where I and HYBE should be is not the courtroom, but the stage of creation." She proposed to HYBE and Chairman Bang Si-hyuk, "​Let's meet now in the place of creation, not in court," adding that in an era where corporate responsibility is paramount, resolving risks and choosing harmony would be a wise management decision.

However, HYBE has paid 29.25 billion won as a judicial guarantee deposit to prevent the provisional enforcement of the first-instance ruling and, despite Min Hee-jin's proposal, is showing a tendency to continue with legal proceedings.