The legal battle between South Korean entertainment company HYBE and its subsidiary ADOR’s CEO is far from over. The Seoul court ruled in favour of Min Hee Jin and granted her injunction request. Following the court’s ruling in favour of Min Hee Jin, now HYBE will not be able to vote in the shareholders' meeting scheduled on May 31. Responding to the development, HYBE has said that it will take steps against the ADOR CEO.
BTS parent label HYBE has released a statement after the court blocked HYBE’s voting rights as requested by the ADOR CEO Min Hee Jin. The statement said, “We will respect the court’s ruling granting Min Hee Jin’s injunction and will not use our voting rights to vote in favour of terminating Min Hee Jin at the upcoming shareholder’s meeting.” HYB, however, added that the legal battle is not yet over. “ We plan to proceed to take next steps within the bounds of the law, as the court stated in its decision that it is clear that Min Hee Jin plotted to weaken HYBE’s control over ADOR by taking NewJeans and pressuring HYBE to sell its ADOR holdings, which would allow Min Hee Jin to independently control ADOR,” the statement said.
HYBE is the parent label under which multiple talent management companies operate including BTS’ agency Big Hit Music. ADOR is one of the subsidiary companies of HYBE. While several popular K-pop groups and artists including BTS, Seventeen, TxT and ENHYPEN come under HYBE, the popular K-pop girl group NewJeans is managed by ADOR. HYBE holds 80% shareholder rights in ADOR.
For the unversed, the biggest feud of the K-pop industry started on April 22 when HYBE detected attempts by ADOR CEO to takeover and gain full independence of the company. While HYBE ordered an audit against Min Hee Jin, she held a press conference, where she made counter-allegations and revealed her chats with HYBE chairman Bang Si-Hyuk.
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