Former ADOR CEO Min Hee-jin said she plans to move past the courtroom and focus on music production after winning the first trial in her “confirmation of termination of shareholders’ agreement and stock-sale payment (put option) claim” against HYBE.
Right after the Seoul Central District Court’s Civil Division 31 ruled in her favor on the 12th, Min released an official statement via Ooak Records, the label she founded last October. “I extend deep respect to the court for its careful and objective judgment,” she said, adding, “We humbly accept that this ruling confirms the validity of the shareholders’ agreement and the legitimacy of the put-option right.”
On the broader meaning of the case, she noted, “Beyond protecting an individual’s rights, I hoped this would correct unfair practices within the K-pop industry and remind everyone of the seriousness of contracts.” She also apologized “to fans and entertainment industry professionals who may have felt fatigued during this long dispute.”
One standout line was her message to HYBE, her opponent in the lawsuit. “I want to say the HYBE team also worked hard throughout this legal battle,” Min said. “Now, Ooak Records and I won’t stay stuck in past disputes. We’re moving forward with our original plans.”
She continued, “Ooak Records will build a stable management environment, maximize artists’ value, and put all our energy into developing new talent that represents the K-pop industry.” As a creator, producer, and executive, she pledged to return to the core of her work, adding, “We’ll repay you with new music and stages, not more draining disputes.”
The conflict isn’t completely over. After the ruling, HYBE said, “We regret that our position was not sufficiently accepted,” adding that it will closely review the decision and consider additional legal steps, including an appeal.
Meanwhile, the court dismissed HYBE’s lawsuit seeking confirmation to terminate the shareholders’ agreement with Min and ruled in favor of Min on the stock-sale payment claim. As a result, HYBE must pay Min approximately 22.5 billion won and pay two former ADOR directors 1.7 billion won and 1.4 billion won, respectively―about 25.6 billion won in total.
Photo: Baik Seung-Chul
(SBS Entertainment News | Kang Kyung-youn)