A few days after the start of an audit of the ADOR subsidiary and the question of its CEO, Min Hee Jinto leave, the Korean entertainment giant says it will report the executive to the police.
The announcement came before Min held an emotional press conference in Seoul, where she denied claims of a usurpation by girl group ADOR NewJeans, shared conversations she had with the group members and addressed other rumors as the Billboard 200's top girl group prepares to to start. his new single, “Bubble Gum.”
On Thursday (April 25) Korea local time, HYBE shared the following statement with the media as an update on its investigation into ADOR, CEO Min and other company executives:
On April 25th KST, HYBE announced that the company will report its subsidiary company ADOR's CEO Min Hee-Jin to the police today for breach of trust and other related allegations.
HYBE secured substantial evidence that Min deliberately led the plan to take over management control of the subsidiary through the audit process. The evidence included detailed discussions that Min ordered ADOR's management to find ways to pressure HYBE to eventually sell ADOR's shares. One of the audited parties submitted assets to understand the management of ADOR and try to contact external investors. The auditee also admitted that he created the documents to attack HYBE.
In the meantime, HYBE will continue to provide careful mental and emotional care to the company's artist NewJeans and the best support for their upcoming comeback. The company will meet with the legal representatives of the respective members as soon as possible to discuss the plan to protect the act.
As previously reported, Min gained an 18% stake in ADOR in late 2023, when HYBE moved from full ownership of the label to 80%, with the additional 2% held by other company executives.
After attacking Min Hee-jin and ADOR with interviews and multiple statements in various Korean media claiming that HYBE is exploiting ADOR and allowing the plagiarism of the NewJeans concept, the K-pop industry veteran held a press conference with her lawyers . lasted more than two hours on Friday.
According The Korea JoongAng Dailythe minute by minute report, Min arrived for the press conference at 3 p.m. dressed casually in a baseball cap and plain T-shirt to be greeted by a line of photographers — so many that at one point, the executive said he couldn't speak if the camera flashes continued. Throughout the two-hour event, Min proclaimed her innocence, shared her disagreements with HYBE's leadership, contradicted her conclusion that she wanted to take over NewJeans management, and tried to focus on her original internal complaint about plagiarism. Under the leadership of Min, ADOR previously argued that HYBE's newest act, the five-member girl group ILLIT formed under another subsidiary, BELIFT LAB, is copying NewJeans.
While going through the stories with her lawyers by her side, an occasionally tearful Min also addressed rumors about current and past HYBE artists, including BTS, GFRIEND, LE SSERAFIM, and more.
During the first half hour of the presentation, Min shared text message conversations she claims to have had with HYBE's founder/chairman Bang Si-hyuk and CEO of HYBE Park Ji-won. These alleged texts, according to Min, show Bang's interest in buying Source Music, where Min previously worked, to start a girl group. He also revealed that he recruited NewJeans' oldest member, Minji, from his Source intern group for ADOR. Min further claimed that HYBE LE SSERAFIM's debut under the Source label led to NewJeans being sidelined and created internal problems.
In 2022 Advertising sign Interviewed shortly after the debut of NewJeans, Min described her departure from Source Music noting that “there would be a lot of different challenges” at the time and that she instead focused on creating “an independent label”, which became ADOR. “ADOR is a company that started with guaranteed autonomy, so it has nothing to do with HYBE's management,” Min said. “They actually had no knowledge of anything we were going to release until the first music video came out.” In the same interview, a question about Minji's time as an intern at Source Music was never answered by the press.
After the first hour of the press conference, Min added claims that the terms of her contract with HYBE were unfair, although her lawyer said the details of the contract are confidential. Min also claimed that HYBE put her in touch with a law firm as outside counsel, creating the current situation. Min pointed out several misunderstandings, including those that stemmed from jokes among her executive team, and added that HYBE still owes her money.
Through tears, Min revealed more text messages claiming that the mother of a NewJeans member called her to encourage her to speak out. During the Q&A with the press in attendance, Min claimed that NewJeans members Hani and Haerin have contacted her specifically to support her.
Separately, two members of NewJeans have made public appearances amid the K-pop power struggle. Minji attended a Chanel pop-up store opening on Tuesday (April 23) in Seoul, while Danielle attended various fashion events on Tuesday and Wednesday, though neither has made any public statements on the matter.
Throughout the press conference, Min also touched on BTS (refuting an online rumor that she claimed that Advertising sign chart toppers had copied her ideas), GFRIEND (saying that she had nothing to do with the group's sudden disbandment in 2021 right after her official HYBE debut) and took several shots at the groups behind ILLIT by sharing how the members are innocent, but “it's the adults who have sinned…they copied all the formulas we had with NewJeans,” from the concept to the fashion collaborations, according to Korea JoongAng Daily.
Just like HYBE did in her statement, Min ended the press conference by refocusing attention on NewJeans. Despite the conflict, the K-pop group's upcoming music video for “Bubble Gum” is set to premiere on Friday (April 26) via HYBE Labels YouTube channel.
from our partners at https://www.billboard.com/business/record-labels/hybe-reports-newjeans-label-ceo-police-press-conference-1235666123/