HYBE Reveals Min Hee Jin’s “Unimaginable” Salary In Response To Her “Inadequate Compensation” Accusations
This article is part of our coverage of HYBE vs. ADOR CEO Min Hee Jin. You can read more and view the entire timeline here.
HYBE Labels has responded to ADOR CEO Min Hee Jin‘s allegations that her compensation has been inadequate in a recent statement addressing multiple claims made by the CEO. The statement released by HYBE details that CEO Min’s total earnings far exceed the norms, even within their own high-ranking echelons.
According to HYBE’s statement, Min Hee Jin’s compensation package included a substantial salary and hefty performance incentives.
“CEO Min claimed a salary of ₩2.00 billion KRW (about $1.46 million USD). More precisely, this includes a ₩2.00 billion KRW (about $1.46 million USD) incentive for the performance in 2023, separate from the salary and long-term incentives.
This ranks first among all employees of HYBE headquarters and its subsidiaries in Korea.”
— HYBE
Further highlighting the extent of her earnings, HYBE also mentioned that part of her compensation consists of stock options or awards, which often represent a significant portion of an executive’s pay and can be highly lucrative given the company’s market performance.
“HYBE has also provided significant stock compensation, the value of which is unimaginable to the general public.”
— HYBE
However, despite these earnings it appears there was a rift over financial terms between Min and the company. HYBE’s statement pointed out, “Yet, CEO Min led negotiations to an impasse with demands for amounts the company could not accept.” The company seems to think that Min’s demands went beyond what was already a leading compensation package, pushing negotiations to a standstill.
Furthermore, HYBE took Min’s compensation dispute as one of the many reasons why they believe she was attempting to takeover ADOR’s management rights and establish it as her own independent business. The company closed out their statement by revealing “We view this as building a case for independent management.“
