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ADOR’s CEO Min Hee Jin called an urgent press conference to address the escalating conflict with HYBE Corporation. This feud emerged following reports of Min Hee Jin’s plans to assume management of ADOR and potentially depart from HYBE alongside NewJeans.
Earlier today, HYBE disclosed the findings of an internal audit conducted on ADOR and its involved officials. The results indicated that ADOR’s CEO had directed efforts to pressure HYBE into selling its stocks in ADOR. Consequently, HYBE sent a letter to her, urging her to step down from her CEO position and vowing legal action for breach of trust and professional malpractice.
During the press conference, ADOR’s CEO unveiled a significant piece of evidence: a screenshot of a 2021 Kakaotalk chat with HYBE’s chairman, Bang Si Hyuk. In the conversation, Bang Si Hyuk asked her if she could ‘stomp’ on aespa, a K-pop girl group under SM Entertainment. This request hinted at potentially elevating NewJeans above aespa’s commercial success.
The revelation gains further intrigue due to Min Hee Jin’s extensive history with SM Entertainment, where she served as art director for many years. Her knowledge of the industry and possible trade secrets makes her a significant figure, having joined HYBE in 2019 to oversee its rebranding.
Despite HYBE’s allegations, ADOR’s CEO vehemently denied any intentions of wresting management rights from the parent company. With HYBE holding an 80% stake in ADOR and Min Hee Jin owning just 18%, any takeover would require HYBE’s consent. She emphasized that the core issue revolves around allegations of BELIFT LAB, a subsidiary of HYBE, copying concepts from NewJeans for their newly debuted girl group, ILLIT.
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