HYBE to file complaint against Ador's CEO for breach of trust
Ador CEO Min Hee-jin / Courtesy of Ador
By KTimes
HYBE, the parent company of the music label Ador, said Thursday it will file a complaint against Min Hee-jin, the CEO of Ador, on charges of breach of trust and other related allegations.
This action comes as a result of findings from an audit initiated on April 22 targeting Ador, which manages the popular K-pop group NewJeans.
During the interim report of the audit released today, HYBE disclosed that it had discovered substantial evidence suggesting a planned takeover of management control led by CEO Min.
"We have secured physical evidence that confirms the executive director’s involvement in drafting plans to usurp control of the company," it said in a statement.
According to HYBE, discussions intercepted through messengers between the audited parties included statements such as planning to "strip Ador to its shell and take it away," and proposing to "pull global funds to deal with HYBE."
It further alleges that under the direction of the CEO Min, detailed discussions were held regarding the premature termination of NewJeans' contract, among other allegations.
The legal action marks an escalation in the dispute between HYBE and its subsidiary's leadership, signaling potential upheavals in the management of one of K-pop’s fastest-rising groups.
The heightening dispute raises concerns about the future business strategies of Ador and its management of NewJeans amid these legal challenges.
This article from the Hankook Ilbo, a sister publication of The Korea Times, was translated by a generative AI and edited by The Korea Times.