Min Hee Jin Addresses Ongoing Lawsuits with HYBE in Urgent Broadcast

UPDATE: Former ADOR CEO Min Hee Jin has addressed the escalating legal disputes involving HYBE and NewJeans (NJZ) during a live broadcast on YouTube. In a revealing conversation with host Jung Young Jin, Min detailed the complexities surrounding multiple lawsuits that have emerged since her departure from ADOR.

Min confirmed that the number of legal actions has significantly increased, stating, “They filed many lawsuits,” and noted, “While counter-suing, the number of lawsuits has increased and taken time.” This urgent update comes as speculation mounts around the validity of exclusive contracts affecting NewJeans members.

Regarding the exclusive contract validity lawsuit, Min emphasized, “That lawsuit is not mine, so I cannot comment on it.” However, she did provide insight into another pressing issue—the put option lawsuit tied to the shareholder agreement. Min revealed that she has been approached with investment offers based on the assumption that she had gained substantial funds from HYBE through these put options.

Min disclosed that the amount in question is approximately ₩25.6 billion KRW (about $17.5 million USD). She remarked, “I was offered 13 times the previous year’s operating benefit if I quit my job,” underscoring the significant financial stakes involved. Min clarified that, contrary to popular belief, she has not actually received any of this money yet, highlighting the uncertainty enveloping the ongoing legal battles.

As the situation develops, industry observers are closely monitoring the implications of these lawsuits, not just for Min Hee Jin and NewJeans, but for the broader K-pop landscape that HYBE significantly influences. The emotional and financial stakes are high, making this a pivotal moment for all parties involved.

With legal proceedings ongoing and more developments anticipated, stakeholders and fans alike are urged to stay tuned for updates. The ramifications of these lawsuits could reshape the future of NewJeans and the dynamics within the K-pop industry.