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‘s internal audit results have revealed Min Hee Jin did indeed try to take over the management rights of ADOR.
In a press release shared with multiple media outlets, including Osen, HYBE announced the interim audit results early on the morning of April 25. They shared that they were able to confirm Min Hee Jin had a plan to take over management rights for ADOR and they secured physical evidence of Min Hee Jin doing so. They also stated that an individual who was also investigated in the audit admitted there were plans to take over management rights and that there was contact with outside investors regarding receiving funding.
HYBE went into more detail, saying that through both their in-person investigation and through documents analyzed, Min Hee Jin instructed those in management under her to brainstorm ways to pressure HYBE into selling their stake in ADOR. Details were also discussed on how to terminate NewJeans’ contract with ADOR early and how to nullify the contract between ADOR and HYBE. Specifically, sentences such as “Let’s pull in global funding and make a deal with HYBE,” “Critically appeal to everything HYBE does,” and “Think about ways to torment HYBE,“ were used in conversations.
The CEO of ADOR has stated in these words, ‘Eventually, we are going to leave HYBE.’
— HYBE’s auditor
Based on the interim audit results, HYBE plans to file a complaint against the individuals involved on April 25 based on breach of trust.
HYBE also stated they plan to do their best to provide both psychological and emotional care for the NewJeans members ahead of their comeback in May so that they can have a successful comeback. They also plan to meet with the members’ legal representatives to discuss ways to protect them from any harm.
We apologize to the fans, artists, and members for causing concern with what has happened in the process of upgrading to the multi-label system. As the case is settled for the time being, we will do our best to stabilize the mental and emotional health of our artists, who are valuable assets to K-Pop.
— HYBE CEO Park Ji Won
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