THE DISMISSAL

Min Hee-Jin, a renowned figure in the K-pop industry and the creative mind behind NewJeans, is engaged in a fierce battle to reclaim her position as CEO of ADOR. Determined to right what she perceives as a grave injustice, she recently filed for an injunction at the Seoul Central District Court. Min Hee-Jin’s goal is clear: to secure her reinstatement and urge HYBE to make decisions that prioritize the future of both ADOR and NewJeans. This courageous move comes in the wake of her sudden dismissal in August, a decision made without prior consultation or warning.

Min Hee-Jin Seeks Legal Support

Represented by the formidable legal team of Marcol Consulting Group and Sejong Law Firm,

Min Hee-Jin is challenging HYBE’s decision to remove her from her CEO role. Her representatives argue that the dismissal violated the shareholders’ agreement and a court ruling that had previously restricted voting rights.

Min Hee-Jin’s five-year tenure as ADOR’s CEO was guaranteed under the agreement, a fact that HYBE allegedly disregarded.

Now, she seeks to summon an extraordinary shareholders’ meeting before November 2, a crucial step in her quest to reclaim her rightful position at the helm of the company she helped build.

NewJeans Defends Min Hee-Jin

In a remarkable display of loyalty and solidarity, NewJeans, the girl group Min Hee-Jin produced, has taken a bold stance in support of their mentor and leader.

In a rare act of defiance, the group aired their grievances in a YouTube livestream, directly calling out HYBE for their perceived mistreatment. This move, unprecedented in the closely managed and often compliant K-pop industry, reflects the escalating tensions between the group and their label.

NewJeans members revealed incidents of mistreatment, including the leaking of personal information and medical records, which they claim HYBE failed to address adequately.

HYBE’s Declining Market Value

The ongoing conflict has had a significant financial impact on HYBE, with the company’s stock value dropping by 6% following the livestream and ongoing tensions.

Bloomberg reports that since April, HYBE has lost 27% of its market value, a staggering figure that underscores the gravity of the situation. While HYBE is facing mounting pressure, it’s not the only K-pop company experiencing financial downturns.

Other major labels like JYP Entertainment, SM Entertainment, and YG Entertainment have also seen their market capitalizations decline in 2024, suggesting that the industry as a whole is facing challenges.

The Future of NewJeans and ADOR

Min Hee-Jin’s fight for reinstatement not only highlights her unwavering dedication to ADOR and NewJeans but also underscores the growing dissatisfaction with corporate management in the K-pop industry.

With NewJeans publicly defending her and demanding her return by September 25, the future of both the group and their label remains uncertain. As this high-stakes battle unfolds, the outcome will likely shape the future of ADOR and could set a precedent for artist-label relationships in the K-pop world.

The eyes of the industry and fans alike are fixed on this unfolding drama, eager to see if Min Hee-Jin’s tenacity and the support of her artists will be enough to overcome the might of one of K-pop’s largest labels.

Watch here : How HYBE’s CEO reacts to NEW JEANS’s demand of Re-instatement

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