Recently, there has been a business dispute involving HYBE, a leading entertainment company, and its subsidiary ADOR, led by Min Hee-jin. On the 25th, HYBE filed a lawsuit against Min Hee-jin, accusing her of attempting to seize control of the company. However, Min Hee-jin denied the allegations made by HYBE. The conflict between the two parties escalated, leading to a significant drop in HYBE’s stock price on the 26th following the news.
HYBE announced on the morning of the 25th that they had evidence of Min Hee-jin’s alleged plot to take over the company. Later that afternoon, Min Hee-jin held an impromptu press conference where she refuted the claims made by HYBE and also raised concerns about HYBE’s management practices. She accused HYBE of maliciously manipulating public opinion to tarnish her reputation. In response, HYBE issued a statement in the evening, accusing Min Hee-jin of distorting the facts surrounding the situation.
The Seoul Yongsan Police Station confirmed on the 26th that they had received a complaint from HYBE against Min Hee-jin, alleging misconduct in her role as the head of ADOR.
According to the Korea Exchange on the 26th, HYBE’s stock price plummeted as soon as the market opened. By 9:30 a.m., the stock had fallen by over 5%, dropping below 200,000 Korean won. The trading price at 1 p.m. was 201,500 Korean won, a decrease of 4.94% (15,000 Korean won) compared to the previous day.
The ongoing feud between HYBE and Min Hee-jin has not only put their business relationship at stake but has also had a direct impact on the company’s financial stability. Investors are closely monitoring the situation as the conflict continues to unfold, uncertain about the long-term ramifications on the entertainment industry in South Korea.