Min Hee-jin's 25.6 Billion Won Put Option Forfeiture Controversy

After winning her legal dispute with HYBE, former ADOR CEO Min Hee-jin held a press conference and proposed that HYBE drop all lawsuits related to NewJeans in exchange for her not receiving the 25.6 billion won put option payment. HYBE stated that they have no separate position on this matter.

At the press conference, Min revealed her stance and future plans regarding the shareholder agreement and put option lawsuit with HYBE. The court dismissed HYBE's lawsuit to confirm the termination of the shareholder agreement against Min and others, and also ruled in favor of Min's lawsuit for the put option payment, ordering HYBE to pay Min 25.5 billion won and former ADOR executives 1.7 billion won and 1.4 billion won, respectively. HYBE has appealed this decision.

Min stated, "I have decided to exchange the 25.6 billion won for another value," emphasizing, "​The most urgent reason is for the NewJeans members." She proposed, "​I suggest stopping and concluding all civil and criminal lawsuits" instead of receiving the 25.6 billion won. This proposal includes the end of all lawsuits and complaints involving NewJeans members, external partners, and former ADOR employees.

NewJeans lost their exclusive contract lawsuit last year and is facing difficulties with the members' return and activities. Min expressed her feelings, stating, "All these lawsuit processes must conclude for there to be no indiscriminate noise, even among the family fandom," and "​I cannot bear to see the NewJeans members, who should be on stage happily, with some on stage and others in court."

Min said she "hopes this decision will be sublimated into the overall development and harmony of the K-pop industry." She added, "​The place for me and HYBE is the stage of creation. We had a creative vision to work together for NewJeans. It's a shame we couldn't finish it, but I ask that our promise to do well for NewJeans when they return becomes a reality."