The heated legal dispute between Min Hee-jin, former ADOR CEO, and HYBE continued in court with both sides trading sharp accusations for more than four and a half hours.
On September 11, the Seoul Central District Court held the second hearing on Min Hee-jin’s lawsuit against HYBE regarding her ₩26 billion put option claim, while also reviewing HYBE’s countersuit over the termination of a shareholder agreement. Both Min Hee-jin and HYBE CLO Jung Jin-soo appeared as witnesses, engaging in an intense back-and-forth that spanned nearly 270 minutes.
The session revolved around three main issues: the validity of the non-compete clause, allegations of album “bulk-buying” (sajaegi), and Min’s alleged meetings with outside investors.
Min argued that the non-compete clause amounted to a “slave contract,” claiming she had asked HYBE to either revise it or increase the put option multiple from 13x to 30x. HYBE countered that revisions were possible and accused Min of giving misleading testimony, prompting Min to accuse them of “perjury.” Tensions escalated further as both sides accused the other of distorting records and misrepresenting communications.
Another key contention was whether HYBE engaged in “album stuffing” to boost first-week sales of ILLIT’s debut release. Min cited testimony from other HYBE affiliates suggesting suspicious practices, but HYBE dismissed the claims, pointing out that even NewJeans sold an unusually large number of albums on the final day of their release week without accusations of fraud.
The debate intensified over Min’s alleged meetings with domestic and overseas investors, including a sovereign wealth fund from Saudi Arabia. HYBE claimed to have evidence of these contacts, while Min flatly denied any wrongdoing and challenged the company to produce proof in court.
Throughout the proceedings, exchanges grew increasingly personal, with HYBE asking the judge to stop Min from “mocking” and Min accusing HYBE of fabricating chat transcripts “like a soap opera script.”
The dispute stems from Min’s exercise of a put option in November of last year, valued at approximately ₩26 billion, based on ADOR’s average operating profit. HYBE maintains that the option is invalid due to an earlier contract termination, while Min insists her resignation marked the true end of the agreement.
The court scheduled the next hearing for November 27, with closing arguments expected on December 18.
Sources: Daum
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