Former ADOR CEO Min Hee Jin Files Injunction to Be Reappointed as Internal Director

Former ADOR CEO, Min Hee Jinhas announced that she is taking legal action after being fired from her position. According to an official statement released by the label at the end of August, she could still continue to act as an internal director managing the activities of the girl group NewJeans, however, her representatives claimed that this decision “violates the agreement of the court and the shareholders”.

Furthermore, following what happened, the members of NewJeans took a stand through a live broadcast on YouTube, demanding an ultimatum from HYBE for the return of Min Hee Jin to the position of CEO of ADOR.

This Friday, the 13th, an official statement was published (via Soompi) through Macoll Consulting Group, together with the lawyers of Hee Jinwho act as their representatives; read the full translation below:

Hello,

This is Macoll Consulting Group, responsible for media communications in collaboration with Sejong Law Firm, representing former ADOR CEO Min Hee Jin.

Today, former CEO Min Hee Jin filed a request for a preliminary injunction to convene an extraordinary general meeting of shareholders and re-elect Min Hee Jin as an internal director of ADOR with the Seoul Central District Court. We would like to explain why we opted for a preliminary injunction to appoint her as a director and CEO, rather than a preliminary injunction to suspend the CEO’s dismissal.

The dismissal of former CEO Min Hee Jin is a violation of the shareholders’ agreement and is contrary to the court’s decision prohibiting the exercise of voting rights. We were preparing an injunction to challenge the validity of the CEO’s dismissal. However, considering the need for an extraordinary general meeting of shareholders to re-elect Min Hee Jin as a director of ADOR by November 2, 2024 and the court’s review period of the injunction, we have chosen to apply for an injunction to re-elect former CEO Min Hee Jin as a director of ADOR and then appoint her as CEO.

Former CEO Min Hee Jin is guaranteed a five-year term as CEO and internal director of ADOR according to the shareholders’ agreement. This fact has already been clearly recognized by the Seoul Central District Court’s decision to prohibit the exercise of voting rights. However, HYBE unilaterally dismissed former CEO Min Hee Jin for the same reasons as before. This is a direct violation of the still valid shareholders’ agreement and the preliminary injunction decision to guarantee the CEO’s term.

On November 2, 2024, former CEO Min Hee Jin’s three-year term as ADOR’s internal director will expire. HYBE is unilaterally claiming that the shareholders’ agreement has been terminated without any basis, although there are less than two months remaining in former CEO Min Hee Jin’s current term as internal director. It is clear that HYBE will not re-elect former CEO Min Hee Jin as internal director under these circumstances.

Therefore, we unavoidably request an injunction to convene an extraordinary general meeting of shareholders before the expiration of former CEO Min Hee Jin’s term as an inside director and to exercise voting rights in favor of the “Re-election of Min Hee Jin as an Inside Director.”

We expect HYBE to cease continued breaches of contract, interference with business, defamation and insults, and make reasonable management decisions for the future of ADOR and NewJeans.

Thanks.