HYBE confirms audit of ADOR CEO Min Hee-jin over reported attempt to seize control of subsidiary
Tensions are running high between entertainment giant HYBE and its subsidiary ADOR, known for its role in managing groundbreaking girl group NewJeans.
HYBE confirmed MBW that it is an audit ENJOY CEO Min Hee Jin and other senior officials, and convened a shareholders' meeting on Monday (April 22).
“Confirmed that HYBE used the authority to audit CEO Min Hee-jin and top executives of the company's affiliated brand ADOR, and called on them to convene a meeting of shareholders on April 22.” MBW.
The reason for the inspection has not been officially disclosed by HYBE, but local media reported serious allegations. HYBE reportedly suspects Min is trying to gain control of ADOR by selling shares and potentially leaking confidential information.
“Confirmed that HYBE has invoked the authority to audit CEO Min Hee-Jin and top executives of the company's affiliated brand ADOR, and called on them to convene a shareholder meeting on April 22.”
HYBE spokesperson
HYBE, the company owns 80% of ADOR, is said to have conducted an audit targeting Min and other ADOR executives. Korean Times reported that the inspection included a search of computers in ADOR's offices in Seoul. HYBE will reportedly pursue legal action against Min.
Min, who reportedly owns 18% of ADOR, is the former creative director of rival HYBE SM Entertainment. She joined HYBE in 2019 and launched ADOR in 2021. Under her leadership, ADOR launched New jeansa group that became famous for hits like Attention, hyperbole boy And OH MY GOD.
Exaggerated boy even achieve a record-breaking run above Billboard Global 200 graph. The band also secured commercial deals with brands including Coca-Cola, McDonald's, Levi'sAnd Shinhan Bank.
However, the relationship between HYBE and ADOR appears to have deteriorated since the launch of the HYBE-owned product. Belift Laboratories'S new girl group GREAT March, Korea reported. Industry insiders claim Min sees ILLIT as a blatant “NewJeans imitator” and claim that is the reason behind her clash with HYBE.
Min criticized HYBE's downplaying of the similarities between NewJeans and ILLIT, said in a statement get via joongang every day that “the cultural success of ADOR's NewJeans was ironically undermined by HYBE.”
“After ILLIT's teaser image was released, there was an explosive reaction online, with many commenting that they initially thought [the group] is NewJeans. ILLIT copied NewJeans in every area of performance including hair, makeup, costumes, choreography, images, videos and event appearances,” Min said.
“ILLIT is being evaluated as a derivative of NewJeans, with terms such as 'Min Hee-jin style', 'Min Hee-jin style' and 'NewJeans partner',” Min said in the statement His is cited by JooAng.
The ADOR CEO also revealed that ADOR filed a complaint about “HYBE's attitude towards NewJeans, as well as the issue of ILIT's copying.”
“HYBE and Belift Lab refuse to admit any wrongdoing, offering only a series of excuses and delaying specific responses.”
Min Hee-jin, AD
“However, HYBE and Belift Lab refused to admit any wrongdoing, only giving a series of reasons and delaying specific responses.”
Adding another level of complexity, HYBE reportedly issued a notice suspending Min “for dismissal” due to concerns her actions “could significantly damage ADOR's corporate value.”
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