HYBE and its subsidiary ADOR clashed over management rights, leading to a confrontation between the leaders of the two companies. HYBE issued a lengthy rebuttal today (26th) in response to the press conference held by Min Hee-jin on the 25th. HYBE stated that the company, through conversations it had access to, learned that Min Hee-jin’s attempt to seize control of the company was not a mere joke.
Yesterday (25th), HYBE indicated that it had evidence of Min Hee-jin’s attempt to seize control of the company, and therefore would initiate monitoring and legal action. In response, Min Hee-jin claimed that the attempt to take control was just a private joke. Addressing this point, HYBE stated that records of conversations and work logs over several months were kept, with an accountant responsible for HYBE’s public listing business and ensuring access to all financial information.
Regarding Min Hee-jin’s complaint about inadequate financial compensation from HYBE, the company stated that her annual salary at HYBE’s main office and Korean subsidiaries ranked first by a significant margin.
Min Hee-jin raised concerns about being suddenly targeted for surveillance by company personnel, to which HYBE responded that the surveillance was conducted only after confirming a breach of confidential files and her attempted takeover, emphasizing that it was reasonable not to give prior notice in cases of major illegal activities.
Responding to Min Hee-jin’s claim that HYBE did not inform her to return information resources and confiscated her computer before the return of NewJeans, hindering her work, HYBE clarified that after the incident was brought up, Min Hee-jin repeatedly refused their offers, and after seizing the computer, promptly provided a new one and necessary data, ensuring no disruption to her work.
Regarding the issue of NewJeans, a girl group Min Hee-jin was promised to be able to debut under her leadership, HYBE clarified that the delay in the debut was not due to the company’s failure to adhere to agreements but rather Min Hee-jin’s insistence on debuting NewJeans under her own brand ADOR. Despite Source Music’s objections, HYBE respected her opinion, allowed the members to transition to ADOR, and provided 16 billion Korean won to ensure the debut aligned with Min Hee-jin’s vision. The debut was postponed due to contract transitions and other related issues.
HYBE also disputed claims about the lack of pre-debut promotion for NewJeans and insufficient post-debut promotion, explaining that pre-debut secrecy was to protect information about both LE SSERAFIM and NewJeans members. Additionally, data supported that there was no disparity in promotional efforts towards artists after their debut.
Regarding Min Hee-jin’s allegation that HYBE pressured her to sign a “slave contract,” HYBE clarified that the restriction on self-operation was to prevent shareholders from selling their shares and engaging in unfair competition in the same industry. The company emphasized that such clauses are common in various industries and do not permanently prohibit shareholders from engaging in personal business activities if they choose to sell their shares.
With regard to HYBE’s previous claim that Min Hee-jin discussed company operations with a “wizard” but Min Hee-jin dismissed it as a mere friendship, HYBE pointed out that during the discussions with the so-called wizard, strategic decisions regarding executive stock options and shareholder holdings were made based on the wizard’s suggestions. Therefore, these actions cannot be considered those of a mere friend, as they involved leaking company information to external parties and intervening in company operations.
In the final statement of the lengthy declaration, HYBE asserted that it was Min Hee-jin who resorted to using artists as leverage to threaten the company, and while the company had tried to compromise with her various demands, it became evident that she sought to seize control of the company. Consequently, HYBE had no choice but to initiate monitoring of her activities. The company’s repeated recommendations for her to refrain from mentioning the artists during press conferences and interviews were driven by HYBE’s deep appreciation for the value of their artists.