The Korea Herald


Ador CEO Min offers to reconcile with Hybe

By Kim Jae-heun

Published : May 31, 2024 - 18:18

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Ador CEO Min Hee-jin speaks during a press conference held in Seoul on Friday. (Yonhap) Ador CEO Min Hee-jin speaks during a press conference held in Seoul on Friday. (Yonhap)

Ador CEO Min Hee-jin said Friday that she was willing to settle the ongoing dispute and find common ground with Hybe, the parent company of Ador, for the interest of the label and its popular K-pop group NewJeans.

“I hope we (Hybe and Min) meet halfway. We have (NewJeans’) Tokyo Dome concert coming up in June and a world tour next year. I don’t want all these opportunities to disappear on account of this issue,” Min said during a press conference in Seoul on Friday.

“I’ve devoted myself to Ador and I believe it has contributed a lot to Hybe. They (Hybe) are accusing me of breach of duty, but my (financial) achievement with NewJeans, in the last two years, says otherwise. It is equivalent to a top boy band’s five or seven years of achievement. CEOs talk with numbers. We should make wise and logical decisions for the sake of everyone’s interests,” Min added.

On April 25, Hybe reported Min to the Yongsan Police Station for alleged breach of trust and the case is currently under investigation. Min’s suggestion of a compromise implies Hybe’s withdrawal of the accusation.

“I don’t know what Hybe has to say about this. I’ve opened this press conference to convey my message to them because they are not talking to me. I am sure they are watching this. We both hurt each other’s feelings, but I hope we put it all down and move on to the next chapter,” Min said.

Earlier in the morning, Hybe removed Ador’s two other board members at an extraordinary shareholders' meeting. The parent company’s original plan was to sack all three directors including Min. However, the CEO had filed a preliminary injunction against Hybe on May 7 to prevent it from exercising voting rights in favor of dismissing her and the court granted the injunction just one day before Friday's extraordinary shareholders' meeting.

Hybe said it accepted the court's ruling but that it would take follow-up action permitted within the boundaries of the law.

On Friday, Hybe replaced Ador’s two directors with three top executives from the headquarters -- Chief Human Resources Officer Kim Joo-young, Chief Strategy Office Lee Jae-sang and Chief Financial Officer Lee Kyeong-jun.

Min said she has no problem working with them as long as she keeps her position as the CEO.

“I am sure the three new directors won’t disturb me from doing my job as CEO. If they do, that is a breach of trust that Hybe keeps accusing me of,” Min said.