Min Hee-jin, the former CEO of HYBE-owned record label ADOR, has resigned as an internal director at the label and issued a public letter in which she alleged that HYBE’s actions against her were retribution for her attempt to blow the whistle on misconduct within the K-pop giant.
Min’s resignation letter, which became public on Wednesday (November 20), comes a week after NewJeans – the girl group produced by Min, and ADOR’s principal act – issued an ultimatum to their label, demanding that Min be reinstated as Ador’s CEO within 14 days.
“Today, I am resigning from my position as an internal director at ADOR. Additionally, I am terminating the shareholder agreement with HYBE and intend to hold HYBE legally accountable for breaches of this agreement,” Min wrote in a letter circulated in the media.
“Furthermore, I will be taking necessary legal action one by one against the numerous illegal activities committed by HYBE and its affiliates.”
The letter didn’t clarify what “illegal activities” Min accuses HYBE of engaging in.
Min owns an 18% stake in ADOR. According to Korea JoongAng Daily, Min had earlier notified HYBE that she plans to exercise her contractual option to sell her shares in ADOR.
Min’s shareholder agreement with HYBE gives her the right to sell her share of the company to HYBE on demand, at a price equal to three-quarters of ADOR’s average operating profit over the past two years, multiplied by 13, JoongAng Daily reported.
By JoongAng’s calculations, Min will collect KRW 26 billion (USD $18.6 million) if she fully exercises her option.
Min’s declaration comes a week after the five members of NewJeans – Minji, Hanni, Danielle, Haerin and Hyein – sent a legal notice to ADOR, declaring that they will terminate their contract in 14 days’ time unless the label “rectif[ies] all material breaches of the exclusive contract.”
That includes a demand that Min Hee-jin be reinstated as CEO of ADOR, and be allowed to resume her duties as NewJeans’ producer.
“HYBE’s actions in 2024 will be recorded as an unprecedented incident in K-pop history.”
Min Hee-jin
“Bring Ador back to the time when NewJeans happily worked with Min until March 2024,” the notice stated, as quoted by The Korea Times. “We miss the NewJeans that was excited about creating new, creative music and performances with her.”
NewJeans’ ultimatum expires on November 27. A potential termination of the contract between ADOR and NewJeans could be a serious problem for the label, as NewJeans is its principal source of revenue.
The conflict began this past April, when HYBE launched an internal audit of ADOR amid accusations that Min had attempted to seize control of the label by selling shares and leaking confidential information.
Shortly thereafter, HYBE filed a legal complaint against Min, saying it had obtained “physical evidence” that Min had devised a “plan to seize the management rights” of ADOR.
It emerged that Min had been unhappy with the behavior of another HYBE label, BeLift Lab, accusing the label of copying NewJeans’ style in creating the girl group ILLIT.
According to a news report at the time, citing industry insiders, Min considered ILLIT to be a blatant “copycat” of NewJeans. In a statement obtained by local media, Min alleged that “the cultural success of ADOR’s NewJeans is ironically being undermined by HYBE.”
In August, HYBE removed Min as CEO of ADOR, replacing her with Kim Ju-young, HYBE’s executive human resources officer. The company offered to have Min continue as NewJeans’ producer, an offer Min rejected, calling HYBE’s contractual terms “unreasonable.”
Min took the matter to court, asking for an order to be reinstated as ADOR’s CEO. In October, the Seoul Central District Court dismissed Min’s request, saying that it was “improper due to a lack of legal interest” and that “there is insufficient evidence regarding the rights to be protected.”
However, HYBE agreed to extend Min’s term as a director on the board of ADOR.
In her letter, Min declared that “HYBE’s actions in 2024 will be recorded as an unprecedented incident in K-pop history.”
She concluded the letter with a word of thanks to the Bunnies, NewJeans’ fan club, “and many others who have tirelessly sent support and encouragement for nearly half a year.”
According to JoongAng Daily, the Bunnies group has filed complaints and police reports against HYBE on behalf of NewJeans and Min.
As of Wednesday, HYBE had not received a formal letter of resignation from Min, JoongAng Daily reported.
The full text of Min’s letter is below (via Soompi.com)
Hello, this is Min Hee Jin.
Today, I am resigning from my position as an internal director at ADOR.
Additionally, I am terminating the shareholder agreement with HYBE and intend to hold HYBE legally accountable for breaches of this agreement.
Furthermore, I will be taking necessary legal action one by one against the numerous illegal activities committed by HYBE and its affiliates.
Despite the hellish dispute lasting over seven months with HYBE, which began with HYBE’s illegal audit in April, I have done everything in my power to uphold the shareholder agreement and restore ADOR to its state before April. However, HYBE has neither acknowledged its wrongdoing nor shown any signs of change, leading me to conclude that further efforts would be a waste of time.
I had hoped HYBE would admit its mistakes and worked tirelessly to protect NewJeans within HYBE, which has become twisted. This is why I sent internal whistleblowing emails twice in April.
However, instead of reflecting, HYBE fabricated absurd falsehoods and publicly displayed their shameful illegal audit, an unprecedentedly foolish act. They framed me, a minority shareholder and CEO, with the bizarre accusation of a “management takeover” and launched ignorant and irrational attacks that are hard to believe came from a large corporation.
After numerous twists and turns, it has finally become clear that my whistleblowing was based on undeniable facts and was a legitimate report, while HYBE’s ugly lies and hypocrisy are being exposed one by one.
In fact, HYBE likely knew from the beginning that the contents of my whistleblowing were all true and that my concerns were legitimate.
However, for those who prioritize their own interests and advancement, the essence of “problem-solving” was a task they most wanted to avoid.
I did not expect them to repent, but I believed they would have at least a minimum level of conscience as human beings, which now seems to have been a naive misjudgment.
Just as merely breathing does not mean one is truly alive, I did not want to cling to money and settle into this twisted organization.
HYBE has continued to use its subsidiary labels to engage in unreasonable lawsuits, nitpicking, and unfair media play to bury me, while hypocritically presenting a producing delegation contract filled with toxic clauses as if they were doing me a great favor.
They insisted on discussing the R&R (Roles and Responsibilities), the core of the delegation contract, while simultaneously demanding incomprehensible conditions like forensic consent before the discussion, and only insisting on face-to-face meetings without providing the R&R document, which was an incomprehensible stance.
Despite having unilaterally dismissed me, they spread false information to the media that I had stepped down as CEO to take on producing duties. It no longer surprises me that those who spread false information demand “confidentiality” from others with such shamelessness.
HYBE’s actions in 2024 will be recorded as an unprecedented incident in K-pop history.
Over the past seven months, I have poured all my mental, economic, and physical resources into reviving ADOR, which was devastated by HYBE’s severe breaches of the shareholder agreement.
It was a hellish battle against the baseless violence of a group disguised as a large corporation, but I did not back down and made every effort.
HYBE’s moral decay has reached its peak, and although their dirty media play will continue, I am not worried because the public has likely become aware of their patterns.
Nevertheless, if there are any forces or media that unjustly slander me, I will not stand by and will take legal action.
This unprecedented incident is not over yet, but I want to express my heartfelt gratitude to many people, including Bunnies (NewJeans’s fan club name), who have tirelessly supported and cheered me on for nearly half a year.
Ironically, through this fight with the worst company, I have met the best people, which is a special fortune.
Some may not understand why I have endured this far, but there is a reason and meaning for someone like me to exist in this world.
I hope you will continue to show interest in my new journey in K-pop.
I conclude this message with a sense of relief, sharing these words with some people:
“One person’s malicious actions should never tarnish the essence of the profession. This is truly wrong.”
Min Hee-jinMusic Business Worldwide
