Min Hee Jin Hit With Alleged Financial Trouble As Creditor Seizes Her Property
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.
SR Times has reported that former ADOR CEO Min Hee Jin has had her property subjected to a provisional seizure by the court after a creditor filed a ₩100 million KRW (about $71,500 USD) claim.
The specific reason behind the creditor’s claim is not yet known. According to SR Times, the court had processed the creditor’s claim on September 23.
A claim for provisional seizure is a legal process that allows a creditor to take possession of a debtor’s property until the debt is paid or a judgment is made. Generally, this process can take several months. Creditors often request it to prevent debtors from disposing of assets during this period.
The property in question was purchased by Min Hee Jin in 2011 for ₩387 million KRW (about $277,000 USD). However, given its location in Yeonnam-dong, the property’s value is estimated to have increased from 13 years ago. Data from KB Real Estate indicates that the average market price for a home in the area is currently around ₩985 million KRW (about $705,000 USD).
While the reason behind the creditor’s provisional claim is unknown, Korean media have pointed out that Min has previously mentioned her tough financial situation. According to SR Times, Min addressed it during her appearance as a speaker at the 2024 Hyundai Card Da Vinci Motel event on September 27.
Legal fees amounted to ₩2.30 billion KRW (about $1.64 million USD)… I might have to sell my house because of these legal costs.
— Min Hee Jin
Since the beginning of this year, Min Hee Jin has been famously involved in a legal feud with HYBE and its subsidiary BeLift Lab. It remains to be seen whether the former ADOR CEO will address the property seizure.
