On May 17, the Seoul Central District Court held a hearing on the case of ADOR CEO Min Hee-jin’s application for a restraining order against the exercise of voting rights by the parent company HYBE. Both parties were represented by legal agents at the hearing. HYBE also publicly disclosed the contents of a petition written by its founder Bang Si-hyuk. This is the first time Bang Si-hyuk has publicly stated his position on the company dispute.
Previously, HYBE initiated an investigation into ADOR CEO Min Hee-jin, citing suspicions of attempting to seize control of the company, and filed a lawsuit against her. HYBE had also requested an extraordinary shareholders’ meeting within 30 days to appoint a new CEO for ADOR, but Min Hee-jin rejected the request and filed for a restraining order against HYBE exercising voting rights.
Today, both parties were represented by legal agents in court. Bang Si-hyuk’s petition stated, “Despite the current situation, creators should have even more freedom to create. For K-pop to become a sustainable industry, the path lies in having more creators constantly producing works. This is the driving force behind K-pop’s continuous growth.”
The petition further mentioned, “I understand that some people see Min Hee-jin’s actions as highlighting the drawbacks of a multi-label system. However, even a meticulous system cannot fully prevent the ill intentions of individuals. We should not let the ill intentions of one person disrupt the system that many have worked to build over the years. Preventing individual malice and misdeeds from causing a collapse of social systems and order is the foundation of a societal structure.”
He also added, “As a leader in the industry, we will work with conviction to correct the situation. I apologize for causing inconvenience to the public with this issue as an entertainment company that should deliver joy. Please withdraw Min Hee-jin’s restraining order application.”
The court is expected to make a decision on whether to uphold or dismiss Min Hee-jin’s restraining order application before the extraordinary shareholders’ meeting scheduled for May 31st.