Police Investigate HYBE's Accusations of Misconduct Against Min Hee-jin

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The police are accelerating their investigation into allegations of misconduct against HYBE’s Min Hee-jin, the CEO of ADOR.

On the morning of the 20th, Chief Jo Ji-ho of the Seoul Metropolitan Police Department stated during a regular press briefing that they had completed analyzing the submitted materials and that the complainant had agreed to appear for questioning later this week following the provisional injunction hearing on the 17th.

HYBE launched an audit against Min Hee-jin and ADOR's management on April 22, suspecting them of attempting to seize control of the company. ADOR denied these allegations, but HYBE claimed to have gathered substantial evidence, including laptops, during the audit. On April 25, HYBE filed a criminal complaint against Min Hee-jin and ADOR’s executives for breach of duty.

Just hours before the complaint was filed, Min held an emergency press conference, arguing that HYBE’s claims were baseless, as HYBE, holding 80% of ADOR’s shares, could not realistically have its management rights seized.

HYBE, however, cited meetings between ADOR’s management and external investors, as well as conversations that suggested a plan to seize control, as evidence for their criminal complaint against Min.

ADOR countered by saying these conversations were merely venting frustrations and denied any intention of seizing management control, labeling HYBE’s accusations as exaggerated.

Since then, both sides have raised various issues publicly. ADOR accused HYBE of neglecting NewJeans and engaging in mismanagement, while HYBE refuted these claims and asserted that Min had sought to revise shareholder agreements to gain control over ADOR.

HYBE particularly claimed that Min wanted to control NewJeans’ exclusive contracts and terminations, effectively trying to own the group. Min denied these allegations, leading to further controversy.

HYBE requested Min’s resignation during the audit, but she refused to comply. Consequently, HYBE plans to vote for her dismissal at an ADOR shareholders' meeting on the 31st.

A provisional injunction hearing on the 17th addressed whether HYBE could exercise its voting rights, with both sides presenting their arguments for over 80 minutes. The court will accept additional evidence until the 24th and make a decision by the 31st.

Meanwhile, the police plan to expedite their investigation into Min’s alleged misconduct, starting with questioning the complainant.

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