HYBE Requests Min Hee-jin to Resign, NewJeans’ Comeback Likely Impacted?
After an audit was started against “NewJeans’ Producer” Min Hee-jin, she is being asked to resign by HYBE.
It is known that HYBE has demanded a shareholders’ meeting against the board of directors of its subsidiary label ADOR (led by CEO Min Hee-jin).
According to sources in the music industry on April 22, HYBE sent a letter demanding ADOR CEO Min Hee-jin to resign on this day. It has been confirmed that HYBE also requested a shareholders’ meeting targeting the board of directors of ADOR.
The board of directors at ADOR is known to have been close associates of CEO Min Hee-jin since her time at SM Entertainment. Whether ADOR’s management will respond to the demand for a shareholders’ meeting remains uncertain. If ADOR refuses to convene a shareholders’ meeting, HYBE is expected to take legal action.
On the other hand, it was reported on the same day that HYBE initiated an audit of CEO Min Hee-jin and one of ADOR’s executives, Mr. A, based on accusations of illegal attempts to leak confidential contracts for the purpose of attracting investment, among other activities with the goal for ADOR to achieve independence from HYBE.
Recently, there have been rumors in the music industry that CEO Min Hee-jin is preparing for independence from HYBE, along with its star artist NewJeans. Allegations of corporate takeover have also emerged.
Attention is being paid to whether there will be negative signals for the comeback of NewJeans, a group under ADOR, due to the significant conflict between HYBE and ADOR.
Meanwhile, NewJeans plans to release a double single in Korea and Japan on May 24 and June 21, respectively. They will then release a new album in the second half of the year and hold a world tour in 2025.
Source: Daum
