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ADOR’s CEO Min Hee Jin to address accusations made by HYBE in emergency press conference today
HYBE’s audit reports confirm that ADOR’s CEO had been planning to take over management. Read on for more details.
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ADOR's CEO Min Hee Jin to hold urgent press conference
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More about HYBE and ADOR's conflict
On April 25, 2024, ADOR’s CEO, Min Hee Jin, called in for an urgent press conference to address the situation with HYBE. A legal representative of Min Hee Jin has informed various media outlets that the CEO will be clarifying the news that was reported earlier today. The representative also stated that he would personally reveal ADOR’s position in this conflict in front of the media.
The feud between HYBE and ADOR started ever since the information surfaced that the latter company was planning to leave the former. HYBE launched a sudden internal audit of the ADOR, including that of CEO Min Hee Jin and everyone involved with the conspiracy. Moreover, HYBE even sent a letter asking Min Hee Jin to step down from the position.
ADOR's CEO Min Hee Jin to hold urgent press conference
Earlier today, HYBE revealed the information they gathered through the audit conducted on CEO Min Hee Jin and other officials in ADOR. The results confirm the suspicion that Min Hee Jin was planning to take over ADOR and leave HYBE. The company has discovered multiple substantial pieces of evidence that prove that deliberate plans were made to do so.
More about HYBE and ADOR's conflict
As reported by a South Korean media outlet, HYBE has revealed in a press statement that the accused were planning to attack HYBE and deliberately pressure the company into selling the shares that they currently hold in ADOR. Moreover, they were also discussing how to terminate NewJeans’ and Min Hee Jin’s contracts with HYBE ahead of time. With such extensive evidence, HYBE has announced that it will take legal action against ADOR for breach of trust and professional malpractice. HYBE holds 80 percent stakes in ADOR, and Min Hee Jin has 18 percent.
Hence, to refute the claims made by HYBE, CEO MIn Hee Jin has decided to address the situation firsthand through a press conference, which will be held later today. Min Hee Jin has been denying the allegations by HYBE and says that she has no intentions of taking management rights away from the parent company. Additionally, she reveals that the main issue stems from BELIFT LAB copying the concepts from NewJeans for their newly formed girl group, ILLIT. The CEO noticed many similarities with NewJeans in ILLIT’s debut song Magnetic, which raised concerns within the management.
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