The ongoing saga between South Korean entertainment conglomerate HYBE and Min Hee-jin, CEO of its subsidiary label ADOR, took a new turn on Wednesday (Apr 25) when it announced the interim results of its audit into ADOR, which manages the popular K-pop girl group NewJeans.
The audit was first launched on Monday (Apr 22) after HYBE claimed that Min and her executives were trying to take over ADOR. Min, however, denied those claims – saying that HYBE’s actions were due to her making an internal complaint where she accused HYBE’s new girl group Illit of plagiarising NewJeans.
Following the audit, HYBE announced that it has secured evidence of a plan, under the leadership of Min, to seize the management rights of ADOR. An unnamed person, whom HYBE interviewed as part of the audit proceedings, submitted “information assets” including plans for a takeover as well as contacts of external investors and documents on ways to attack HYBE.
HYBE added that, based on in-person interviews and transcripts of conversations in the information assets, it found out that Min Hee-jin instructed executives to find a way to pressure HYBE to sell its stake in ADOR, of which it currently owns 80 per cent.
It also provided a screenshot of a group chat, allegedly comprising ADOR executives and Min, which showed these plans being laid out and Min responding with “Amazing”.
In light of this discovery, HYBE plans to file a lawsuit for professional misconduct and breach of fiduciary duty against those involved.
HYBE added that it will provide psychological and emotional care to the members of NewJeans – Minji, Hanni, Danielle, Haerin and Hyein – and support them for their upcoming comeback; the group will release a new music video on Apr 27. The company will also be meeting the members’ legal representatives to discuss ways to protect them.
HYBE CEO Park Ji-won said: “We apologise to our fans, artistes, and members for the inconvenience caused by the events that occurred…Now that the case has been settled, we will do our best to provide psychological healing and emotional stability for our artistes, who are valuable assets of K-pop.”
NewJeans is set to release four new songs between May and June. It will hold a fan meeting in Japan this June at Tokyo Dome, with guest appearances by Yoasobi and Rina Sawayama.
