Min Hee Jin wins injunction against HYBE; latter issues statement on court ruling, 'Our company plans to proceed with subsequent steps'

On May 30, the Seoul Central District Court granted Min Hee Jin’s request for an injunction to prohibit HYBE from exercising voting rights that could lead to her dismissal from ADOR.

HYBE has released an official statement in response to the recent court ruling favouring Min Hee Jin, former Chief Brand Officer and current CEO of ADOR, regarding her request for an injunction against HYBE's voting rights concerning her removal from ADOR.

On May 30, the Seoul Central District Court granted Min Hee Jin’s request for an injunction to prohibit HYBE from exercising voting rights that could lead to her dismissal from ADOR. This ruling has significant implications for the ongoing power struggle within the company, particularly concerning the management and future direction of ADOR and its popular group, NewJeans.

HYBE’s official statement reads as follows:

"Our company respects the court’s decision regarding the provisional injunction lawsuit filed by CEO Min Hee Jin and will not exercise voting rights in favor of the 'Dismissal of Inside Director Min Hee Jin' at the upcoming extraordinary meeting of shareholders.

Furthermore, as the court has clearly stated in this decision that 'it is evident that Min Hee Jin sought ways to weaken HYBE’s control over ADOR and allow Min Hee Jin to control ADOR independently by either taking NewJeans out of HYBE’s control or pressuring HYBE to sell its shares in ADOR,' our company plans to proceed with subsequent steps within the boundaries set by the law."

The court's decision underscores a significant conflict of interest and governance issues within HYBE and its subsidiaries. The ruling suggests that Min Hee Jin attempted to diminish HYBE's influence over ADOR, aiming to operate independently or to compel HYBE to divest its shares in ADOR. This move indicates her desire to secure autonomous control over ADOR, which includes the management of NewJeans, a rising K-pop group under her leadership.

HYBE's acknowledgment of the court's decision and its commitment to not exercising voting rights against Min Hee Jin signals a strategic retreat in the face of legal constraints. However, the company also indicates its intention to take legally compliant steps moving forward.

The court ruling and HYBE's subsequent statement are pivotal in the ongoing narrative of Min Hee Jin's role within ADOR and her relationship with HYBE. Fans and industry observers alike will be watching closely to see how this legal and corporate drama unfolds, particularly how it will affect the future of NewJeans and the broader strategic direction of HYBE and ADOR.