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지나쌤

Hybe CEO pledges stability; Ador ex-CEO vows to continue legal fight

By Kim Jae-heun

Published : Oct. 30, 2024 - 15:17

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Former Ador CEO Min Hee-jin (left) speaks in a live interview with music critic Kim Young-dae on his School of Music YouTube channel, Tuesday. (YouTube) Former Ador CEO Min Hee-jin (left) speaks in a live interview with music critic Kim Young-dae on his School of Music YouTube channel, Tuesday. (YouTube)

Following the Seoul Central District Court's dismissal Tuesday of ousted Ador CEO Min Hee-jin's injunction request for her reinstatement as chief executive of the label home to girl group NewJeans, Hybe CEO Lee Jae-sang sent an email to employees the same day pledging to prioritize stabilizing operations at Ador.

In the email, Lee described the court’s ruling as a "turning point" and expressed optimism in the clarity it brings to resolving issues that have emerged over the past seven months. He thanked employees for their dedication and professionalism, highlighting their role in maintaining the company’s stability amid the dispute with Min.

Lee also signaled a proactive approach to restoring Ador’s operations, saying, “I am hopeful for significant progress in the upcoming renewal of NewJeans' producer contract."

The "producer contract renewal" refers to ongoing negotiations with Min, who was instrumental in defining NewJeans' identity. With Min’s influence over the group’s brand and the unwavering support of Bunnies -- NewJeans' fan base -- for Min, finding a new producer has been challenging for Hybe.

Although Min was recently reappointed as an internal director at Ador for a three-year term, she insists on returning as CEO, arguing that executive control is essential for her producer role. Citing a “shareholder agreement” with Hybe as the basis of her claim, Min continues to press for her reinstatement as chief, the court’s latest ruling notwithstanding.

Former Ador CEO Min Hee-jin (left) speaks in a live interview with music critic Kim Young-dae on his School of Music YouTube channel, Tuesday. (YouTube) Former Ador CEO Min Hee-jin (left) speaks in a live interview with music critic Kim Young-dae on his School of Music YouTube channel, Tuesday. (YouTube)

On Tuesday night, Min held a live interview on music critic Kim Young-dae’s YouTube channel, School of Music, where she reaffirmed her commitment to pursuing legal action, saying, “I’ll see this through to the end.”

She expressed frustration over what she called “wordplay” in legal language, particularly regarding inconsistency in the rulings.

“The first injunction ruled that the shareholder agreement should be respected, but now there’s a question of whether Hybe and Ador are a single entity,” she said, describing it as “a dilemma where one moment it's correct, and the next, they say otherwise.”

Asked about her persistence, Min said, “Some wonder why I’m pursuing the injunction. It’s to prove my innocence and sincerity. I’m committed to taking this as far as it can go.”

She acknowledged that she initially viewed her chances of winning as slim, at around “10 to 20 percent,” and that her goal was to offer Hybe “another opportunity.”

However, she emphasized the toll the legal wrangling has taken.

“It’s exhausting and incredibly frustrating, but with the continued framing and false accusations, I need to defend my innocence once again,” Min said.

Meanwhile, Min’s legal representatives highlighted that the court had refrained from addressing the validity of the shareholder agreement between Hybe and Min, emphasizing that the agreement "remains in force."

“The dismissal was merely due to legal aspects concerning the effectiveness of the procure clause, not a nullification of the shareholder agreement,” Min’s legal team said, reiterating their request for Min to be reinstated as Ador’s CEO at the upcoming board meeting on Oct. 30.

Min’s side further argued that under the terms of the shareholder agreement, her tenure as CEO is secured through Nov. 1, 2026. They warned that if Hybe and its appointed directors at Ador fail to reappoint Min, they would "actively consider exercising Min's rights in response to Hybe’s breach of the agreement."