Interrogation On Min Hee-jin’s Injunction Against HYBE’s Voting Rights To Take Place On May 17th

The Seoul Central District Court’s Civil Affairs Department Division plans to hold an interrogation on the injunction filed against HYBE by CEO Min Hee-jin on May 17th.

Earlier on the 7th, ADOR’s legal representative Sejong Law Firm stated, “HYBE requested a general meeting of shareholders to dismiss Min Hee-jin from her CEO and executive director position. This violates the shareholder contract”.

They added, “CEO Min Hee-jin filed the injunction against HYBE to prohibit their exercise of voting rights on the agenda of dismissing CEO and in-house director Min Hee-jin, considering the right to preserve the performance of contracts between shareholders”, adding “HYBE’s claim of Min Hee-jin’s breach of trust is absurd, and she has applied for a provisional disposition to prohibit the exercise of voting rights and protect the corporate value of ADOR and ADOR’s artist NewJeans”.

In the meantime, CEO Min Hee-jin and ADOR’s board of directors notified HYBE that they would hold a board meeting in Seoul on the morning of May 10th. The agenda for this board meeting is the convening of a general shareholders’ meeting. Currently, ADOR’s board of directors includes CEO Min Hee-jin, VP Shin, and senior Creative Director Kim.

Since HYBE holds 80% of the stake in ADOR, if a shareholder’s meeting is held, CEO Min Hee-jin will obviously be removed from the board. However, CEO Min has been defending herself by filing an injunction to ban HYBE’s exercise of voting rights.

HYBE has been in conflict with Min Hee-jin after accusing the female CEO of trying to take over the management rights and breach of trust. The company sued CEO Min on charges of breach of duty at the Seoul Yongsan Police Station on April 25th. The police also announced that they would speed up the investigation due to the keen public interest.