CEO Min Hee-jin Offers Reconciliation to HYBE
Min Hee-jin retained her position as CEO of ADOR following the interim shareholders' meeting held on the 31st.
The initial agenda for the meeting was her dismissal, but the Seoul Central District Court's 50th Civil Division granted an injunction on the 30th to prevent HYBE from exercising its voting rights on this matter, allowing Min to remain in her position.
Afterward, Min held a press conference at the Press Center in Gwanghwamun, Seoul, to express her thoughts on the court's decision and her willingness to resolve the ongoing conflict with HYBE. She emphasized her desire to continue working as the CEO of ADOR and as the "mom" of NewJeans, aiming to achieve the vision she had with the group.
Continuing the Dream and Vision with NewJeans
Min stated that the vision she had with NewJeans was a value that "could not be exchanged for money." This countered HYBE's claims that she was primarily interested in financial gain and was planning to ultimately become the largest shareholder of ADOR by exploiting put options within the shareholders' agreement.
Min emphasized, "For some, money might be more important, but for us, that vision was more important. We've shared this with the members, and we have a blueprint laid out. It's a significant pain for us if that vision is obstructed without any valid reason for my dismissal." She added that disrupting this vision would also be a significant loss for shareholders, noting the preparations for their Tokyo Dome concert in June and the world tour next year.
Min expressed her clear goal: "I hope to faithfully and smoothly carry out the plans I had with NewJeans. I hope HYBE finds a good compromise. Stopping NewJeans' activities due to various circumstances is not good for anyone. Let's think rationally," she suggested.
Allowing NewJeans to Choose Freely After Their 7-Year Contract
Min shared her honest thoughts on the standard 7-year contract period in K-pop, stating, "My vision with NewJeans is just to 'live happily.' I want them to get good training for seven years and then make a free choice afterward. I hope the members live the lives they want after their activities. I think it's a problem to hold onto them for the company's benefit." She also criticized the stagnation in the K-pop scene, saying that sticking to a successful style gets boring and could make it difficult to sustain in the industry.
Min highlighted the unique relationship with the parents of NewJeans members, which she believes contributed to ADOR's success. She stressed the importance of open communication with the parents to avoid misunderstandings and to make better management and scheduling decisions.
Maximizing Efficiency Through Unified Producing and Management
Min explained the decision to donate the performance fees from NewJeans' university festival appearances, aiming to meet local fan demand while avoiding misunderstandings about exploiting the members for profit. She said that if she were not in a management role, she might not have made such a decision, highlighting the benefits of unified producing and management.
Despite the positive outlook, Min's position remains precarious, as newly appointed board members from HYBE could still attempt to dismiss her. Min's lawyer emphasized the court ruling that found no grounds for her dismissal, urging HYBE to ensure the board does not take actions to remove her.
On the day Min held her press conference, NewJeans won first place on KBS2's 'Music Bank' with their new song 'How Sweet.' They thanked their fans, staff, and Min Hee-jin, expressing their gratitude and love for her.
HYBE has not officially responded to Min's press conference but had previously indicated plans to take further steps within the legal framework following the court's decision. The focus now is on how HYBE will respond to Min's offer of reconciliation.
