MUSIC
HYBE vs. Min Hee-jin: Legal Battle Over Shareholder Agreement and 26 Billion KRW Put Option Nears Verdict
On the 15th, the Seoul Central District Court's Civil Agreement Division 31, presided over by Judge Nam In-soo, held the final hearing for the lawsuit filed by HYBE against Min to confirm the termination of the shareholder agreement, and Min's lawsuit against HYBE for the stock purchase payment. Min did not attend the hearing, with legal representatives from both sides presenting their arguments.
HYBE argued that they fully accommodated Min's demands during the establishment of ADOR, highlighting their substantial support of approximately 21 billion KRW for the group NewJeans. HYBE's representative stated, "The defendant's (Min's) intentions are clear," claiming that Min orchestrated a public campaign to pressure HYBE into selling ADOR shares and create grounds for NewJeans to terminate their exclusive contract. They added that trust was broken due to Min's actions, making further collaboration impossible.
In response, Min's side countered that the KakaoTalk conversations presented by HYBE were maliciously edited. They argued that Min had no intention or shares to seize control of ADOR and had not met with external investors.
Min's representatives described HYBE's actions as an attempt to "remove a troublesome element" and "tame the label," urging the court for an objective judgment. They argued that HYBE's "storytelling" based on altered private conversations should not sway the court.
The core issue of the lawsuit is the validity of the shareholder agreement. HYBE claims that they notified Min of the contract termination in July 2024 due to her breach, rendering the put option exercised by Min in November of the same year invalid. Conversely, Min argues that there was no breach on her part, and the contract remains valid, entitling her to approximately 26 billion KRW in stock purchase payments.
Legal experts suggest that recent rulings involving Min could influence the outcome of this case. Previously, the court sided with ADOR in a damages lawsuit against Dolphin Kidnapping Crew over the release of the 'ETA' music video director's cut, rejecting Min's oral agreement claims as a witness.
Additionally, the dismissal of NewJeans members' application for a preliminary injunction to suspend their exclusive contract with ADOR poses a challenge for Min. ADOR has filed a separate 43 billion KRW damages lawsuit against Min, which is also assigned to the same court division.
The court has scheduled the verdict for the put option and contract termination lawsuit for the 12th of next month.
Meanwhile, after leaving ADOR, Min has established a new agency called 'OK.' Separately, a 500 million KRW damages lawsuit filed by Source Music against Min is set for a verdict on the 16th.
By Min-kyung Lee, TenAsia Reporter 2min_ror@tenasia.co.kr
