Min Hee-jin's 25.5 Billion Won Lawsuit Press Conference

Min Hee-jin, former CEO of ADOR, will hold a press conference regarding her future plans after winning her legal dispute with HYBE. At the press conference, to be held on the 25th at an undisclosed location in Seoul, Min will directly address the results of the first trial and the future plans of OK Records.

Recently, Min won a lawsuit against HYBE seeking confirmation of termination of the put option and shareholder agreement, valued at approximately 25.5 billion won. The court ruled that HYBE's claim to terminate the shareholder agreement, based on allegations of Min's attempt to seize management rights, did not constitute a "material breach of duty." The court also determined that Min's exploration of ways to make ADOR independent or her raising of issues regarding the group ILLIT copying NewJeans were not outside the scope of business judgment.

The court emphasized, "It can be acknowledged that Min sought ways to make ADOR independent from HYBE," but "​this fact alone cannot be seen as a material breach of the shareholder agreement in this case." Furthermore, the court ordered, "​HYBE shall pay Min Hee-jin 25.5 billion won." In response, HYBE filed an appeal against the first-instance ruling.

Following the court's decision, Min applied to seize HYBE's bank accounts, but her request was not granted as the court accepted HYBE's application for a stay of execution. Min is currently preparing to launch a boy group after establishing a new label, 'OK Records.'