[On-Site EN:] Min Heejin, "I am free from false accusations, I will give up on my actions," Proposal of reconciliation to HYBE

 May 31, 2024

Min Heejin, CEO of ADOR, held a second press conference after citing the court's injunction, "Everyone must think about what is in the public interest and seek a better direction."

"I'm going to fold it too, so let's fold it now. To be honest, I'm tired."

ADOR CEO Min Heejin, who was spread her dismissal due to the court's temporary injunction, told HYBE to stop the wasteful dispute and think about a better direction for the "interest of everyone."

On the afternoon of the 31st, CEO Min Heejin's second press conference was held at the press center in Gwanghwamun, Seoul. CEO Min Heejin and two legal representatives attended. Like the first press conference, numerous reporters gathered and were crowded.

"Fortunately, I feel lighthearted to say goodbye after winning the case," said CEO Min. "My first status is the representative of ADOR," and added, "If you recognize that performing the role was my first priority and listen to me, I will be able to understand it quickly."

"I felt a lot of complacency because I was cleared of false accusations," CEO Min said "Personally, I feel that I have put down a big burden has been lifted because this (temporary injunction) decision has been made," added, "I have a great desire to achieve the vision I dreamed with my members as a team called NewJeans. To be honest, I would change it for  money."

Earlier, the 50th Civil Affairs Department (Chief Judge Kim Sanghoon) announced on the 30th that it had cited a ban on voting rights that CEO Min had filed against HYBE. The court said, "It is clear that Min Heejin sought a way to independently control ADOR," adding, "It is difficult to say that Min Heejin has advanced to a specific act of implementation, but it is difficult to say that such an act of Min Heejin can be a betrayal of HYBE, but it is an act of breach of trust against ADOR."

According to the court's decision, the bill to dismiss CEO Min was not passed at the extraordinary shareholders' meeting held today (31st). However, the dismissal of two existing in-house directors of ADOR was passed, and the bill to appoint three new in-house directors recommended by HYBE, Kim Jooyoung (CEO of Personnel Management), Lee Jaesang (CEO of Strategy), and Lee Kyungjoon (CEO of Finance) as new in-house directors was passed.

Attorney Lee Sookyun of Sejong Law Firm said, "The dismissal of CEO Min was rejected, and the other two were dismissed and the appointment of HYBE's directors was approved. The board of directors is comprised of CEO Min and three members from HYBE. What we are worried about is that we don't know what position HYBE will reveal as the board of directors beomes that way, but CEO Min can still be dismissed," he pointed out.

Attorney Lee Sookyun said, "Since (ADOR) is appointed by the board of directors, she can be dismissed if there is a resolution by the board of directors. The purpose of the court's decision is that (CEO Min) has no reason to dismiss her as a director, and if she respects the purpose, the elected (HYBE) directors cannot exercise such voting rights, but (we) cannot legally force the board to exercise its voting rights," he said, explaining that the 'possibility' of CEO Min's dismissal still remains.

Lawyer Lee Sookmi said, "If you look at the shareholder contract, it says that the board appointed by HYBE should take necessary measures to ensure that CEO Min continues to serve as CEO at the board meeting. I think there is a possibility that HYBE's directors will raise the bill to dismiss CEO Min (by convening the board of directors), but they have not yet given such notice."

Min's side consistently stressed that HYBE should follow the court's decision that came out yesterday Lee Sookmi, an attorney, said, "The court's ruling is that there is no reason for dismissal or keeping the contract between shareholders. I wanted to take this opportunity to say that HYBE should take appropriate measures to prevent directors from taking actions to remove Min from her position."

As stated in the first press conference, Min expressed her desire to be with NewJeans. There is a blueprint that NewJeans and Min Heejin had been drawing together, and the situation was confused by the dispute with HYBE, Min said, "My clear goal is to implement the plant that NewJeans and I had planned very faithfully and without any problems."

"While fighting like this, I don't know for whom it's a dispute, amd I don't know what it's for. In fact, I'm so tired of blaming and slandering someone," she said, adding, "In general, everyone should think about which one is more beneficial and a better direction."

CEO Min said, "I've devoted myself and worked so hard for ADOR, and I think this is a great contribution to HYBE, and I think we should be discussed constructively and healthfully in a situation where the court said it was not a breach of trust for ADOR," and added, "I think that's the manager's mind and that's the right way to go."

When asked to confirm whether she had expressed her continue working as the CEO of ADOR, CEO Min said, "I wish I could just take a series of plans that I decided to work with NewJeans.That's not a loss for anyone. If I don't do it, it will be reorganized and NewJeans will take a rest. It's not a good thing for anyone. My idea is to move on to a chapter for everyone."

Regarding whether she had ever met or talked with Bang Sihyuk, Chairman of HYBE, after a press conference held last month, she only said, "No."

Asked what the members of NewJeans reacted to after citing the provisional injunction, Min said, "NewJeans members were all upset. If we didn't have a schedule, we would all have met," and added, "The mothers called me every day to ask how I was doing and if I had eaten, fearing that I would make an extreme choice (after the incident). Yesterday, I cried and went crazy again because I won."

When asked to what extent the voie of artist NewJeans could be reflected in this incident, CEO Min said, "If an artist speaks out loud, they cannot say it even if they want to because it is because used a yoke of selling out and taking advantage of the artist. There are many interpretations of the relationship, such as being disparaged as young or being protected as young."

CEO Min said, "I hope it will be a good judgement for NewJeans. I will make a good living on my own, but I hope adults will make good judgements because NewJeans rely on me. I canreach any financial compromise," she said. "Anyway, I feel good to win. I hope I can clear myself of false accusations and make good judgment for my children."

Original post: Naver