Former ADOR CEO Min Hee Jin has spoken out after winning her legal battle against HYBE over the termination of a shareholder agreement and the validity of her put option.
On February 12, Min shared her statement through her agency OOAK Records, expressing gratitude to the court that delivered the ruling. “I sincerely thank the judges for fairly determining right and wrong after a long trial,” she said. “I also extend my heartfelt gratitude to everyone who believed in and supported me throughout this time.”
Reflecting on the nearly two-year dispute, Min said she had learned a great deal. “Before the conflict, I worked tirelessly, almost obsessively, but I don’t think I truly enjoyed what I was doing,” she said. “Ironically, through this dispute, I realized how much I love my work and how precious it is to me.” She described the legal battle as “a meaningful journey to protect the essence of creation and production.”
Min also emphasized the broader significance of the ruling. “I hope this decision serves as an opportunity to once again remind the K-pop industry how serious contracts and promises are,” she said.
Addressing fans, she added, “I want to put an end to exhausting disputes in my life. I will devote all my energy to the work I love most, creating new culture and inspiring others."
Court Dismisses HYBE’s Claims, Orders Payment
Earlier that day, the Civil Division 31 of the Seoul Central District Court, presided over by Chief Judge Nam In Soo, dismissed HYBE’s lawsuit seeking confirmation of the termination of the shareholder agreement with Min, as well as its challenge to her exercise of a put option.
The court ordered HYBE to pay approximately 25.5 billion KRW (approx. 17.7 million USD) to Min, 1.7 billion KRW (approx. 1.2 million USD) to former ADOR Vice CEO Shin, and 1.4 billion KRW to former ADOR director Kim.
The judges ruled that the grounds cited by HYBE, allegations that Min attempted to seize management control, did not constitute a “serious breach of duty” sufficient to justify terminating the shareholder agreement.
In explaining its decision, the court referenced issues raised by Min’s side, including allegations that ILLIT had copied NewJeans and claims that HYBE encouraged pushing NewJeans album sales. Regarding the plagiarism controversy, the court stated that BELIFT LAB, ILLIT’s agency, failed to present sufficient evidence to prove there was no similarity and that the controversy could not be considered fully resolved. The court added that Min’s remarks appeared to be expressions of opinion rather than false statements and could be seen as a managerial judgment intended to protect ADOR’s interests.
While acknowledging that Min explored the possibility of making ADOR independent from HYBE, the court emphasized that this alone did not amount to a serious violation of the shareholder agreement. It further noted that any discussions with external investors were premised on HYBE’s approval and would have had no effect without the company’s consent.
Because both lawsuits concerned the validity of the same contract, the court conducted parallel hearings.
Background of the Dispute
In July 2024, HYBE terminated its shareholder agreement with Min, alleging that she attempted to privatize NewJeans and ADOR and caused damage to the company and its sub-labels. Min was subsequently dismissed as ADOR CEO in August.
In November of the same year, after stepping down from her position as an internal director at ADOR, Min notified HYBE that she would exercise her put option. HYBE argued that the shareholder agreement had already been terminated in July, rendering the put option invalid.
Min’s side countered that there had been no breach of the shareholder agreement and that HYBE’s termination notice was invalid. Therefore, she maintained that her exercise of the put option was legitimate and that she was entitled to payment.
The put option became a key element of the dispute. Under the shareholder agreement, Min was entitled to receive approximately KRW 26 billion—calculated as 13 times ADOR’s average operating profit over the previous two years, multiplied by 75 percent of her equity stake—if she exercised the option.
Full Statement from Min Hee Jin:
“Hello, this is Min Hee Jin of OOAK Records.
I have received news of the court’s decision today. First, I would like to express my sincere gratitude to the judges for fairly determining right and wrong after a long legal process. I also extend my heartfelt thanks to everyone who, despite this being someone else’s matter, believed in and supported me for such a long time.
The past two years have taught me so much. Looking back, before this dispute, I worked tirelessly, almost obsessively, but I don’t think I truly enjoyed my work. Ironically, through this conflict, I came to realize how much I love what I do and how precious it is to me.
Although it was a long and difficult process, it was a meaningful journey because it was about protecting the essence of what I love most—creation and production. Even though it was pain I never wished to experience, I now feel that not all of that pain was entirely negative.
I express my respect to the judiciary for confirming the legitimacy of the shareholder agreement through its ruling, and I hope this decision becomes a turning point for reflection and improvement within the K-pop industry. I hope it serves as an opportunity to once again remind us how serious contracts and promises are in this industry, and whether they truly represent the position of creators. I also want to offer comfort and encouragement to those who are fighting various injustices behind the scenes.
To the fans and industry officials who may have felt fatigue during this unintended dispute, I sincerely apologize. I hope that HYBE and I can now move beyond emotions and past disagreements and instead reflect together on how to ensure this industry remains healthy and sustainable.
To the fans who worried about me even more than I worried about myself, and to the members of OK Records, I offer my deepest thanks once again. The fans saved me, and because of you, I was able to endure and prove myself until the end.
I now want to leave behind exhausting disputes in my life. I am returning to my place—not to defeat someone, but to focus on what I want most, what I love most, and what I do best: inspiring others and creating new culture.
Together with OOAK Records, I will bring to life the blueprints I have envisioned and build a strong foundation where our creators and artists can fully showcase their talents. I believe that is the only thing I must do now.
I will surprise you with great music and performances in the future.”
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