MUSIC
Firm Minji, bright Daniel... HYBE, cut out Min Hee-jin and keep New Jeans
New Jeans Minzy attended a luxury brand event held at a store in Seongsu-dong, Seongdong-gu, Seoul on the afternoon of the 23rd. Minji is working as an ambassador for the brand. Minji became the first New Genes member to make an official appearance after a conflict broke out between the agency's representative, Min Hee-jin, and its largest shareholder, Hive.
Minji went to the photo call wearing a black leather shirt and shorts. Minji performed various poses requested by reporters, but there was no smile on her face.
On the afternoon of the same day, Daniel departed for Taiwan via Incheon Airport to promote the brand for which he is also an ambassador. Daniel, wearing a navy jumper and short striped shorts, attracted attention with a bright smile.
As the conflict between CEO Min Hee-jin, who has management rights to Adore, and the largest shareholder, Hive, surfaced, attention is focused on how New Jeans' activities will proceed in the future.
Last month, Adore announced that New Jeans plans to make a comeback in May with a double single song, followed by a comeback in June with a double single song. In addition, they announced that they will debut in Japan in June and hold their first fan meeting at Tokyo Dome. Regarding the Tokyo Dome fan meeting, he also presented a big picture for future activities, saying, "We want to lay the foundation for a world tour in 2025."
However, due to this incident, a red light has been turned on their activities. The industry believes that Hive is taking the IP called New Genes while cutting out Min Hee-jin. Although there is a possibility that Min Hee-jin will remain in Hive, it is slim, and New Jeans is definitely a member of Adore under Hive unless they file a lawsuit to suspend the exclusive contract. However, since Min Hee-jin said in the previous official press release that she had reached an agreement with the New Jeans members and her parents, there is a possibility that a lawsuit could occur in the worst case.
In a letter sent to employees on the 23rd, Hive expressed concern about New Genes being shaken due to this incident. Hive said to the members of Adore, "We ask you not to feel anxious and to do your best in your current duties for the comeback and growth of New Genes. We ask that everyone involved make a special effort to ensure that the artist is not shaken by this incident." “I will give it to you,” he said in a special request.
At the same time, Hive began an audit of CEO Min and Vice-CEO Mr. A, requested the convening of a general shareholders' meeting, and sent a letter demanding CEO Min's resignation. Hive's position is that it has secured evidence to prove CEO Min's theft of management rights, including documents obtained by exercising its right to audit and materials discovered through forensics. It has been reported that circumstances have been secured that CEO Min plotted to seize management rights with investors from the Singapore Investment Board and Saudi Arabia's sovereign wealth fund.
In relation to this, CEO Min Hee-jin protested, saying that he received such action when he raised an issue with Aillet, a new member of Belif Lab, a label under Hive, over the 'New Jeans copy'. However, in this process, they are being criticized for being rude by describing Aylit as an imitation of New Genes and criticizing Chairman Bang Si-hyuk in a crude manner. Moreover, there is no proper explanation for the theft of management rights from Adore.
Adore is an affiliated label created by Hive in 2021 with a capital of 16.1 billion won, and Hive owns 80% of its shares. Min Hee-jin is the second largest shareholder, having exercised a call option and purchased 18% of the shares.
Choi Ji-ye, Ten Asia Reporter wisdomart@tenasia.co.kr
