On April 22, HYBE revealed that it was formally launching an audit of its label subsidiary ADOR and asking its CEO, Min Hee-jin, to step down. At the time, HYBE’s statement didn’t specify the reasons for its audit, though rumors quickly spread that it might have something to do with Min’s 18% stake in ADOR.
ADOR CEO, Min Hee-Jin attends a press conference at Seoul Press Center on May 31, 2024 in Seoul, South Korea., ex-CEO of the company’s label subsidiary ADOR, has been a rocky one this year — and the saga doesn’t appear to be over yet.— and its CEO Min, the dispute has devolved into an ongoing war of he-said-she-saids complete with teary press conferences, accusations of plagiarism, numerous additional lawsuits, and both Korean and international fans fiercely taking sides.
At the time, HYBE’s statement didn’t specify the reasons for its audit, though rumors quickly spread that it might have something to do with Min’s 18% stake in ADOR. While refusing to elaborate on the reasons behind the audit, HYBEthat it “invoked the right to audit CEO Min Hee-Jin and top executives of its subsidiary label ADOR,” and that it “called them to summon a shareholder meeting and sent an official letter to ask CEO Min to step down.
BELIFT’s filing slammed Min’s allegations of plagiarism, claiming the allegations are “not true” and that the label is “vigorously pursuing all necessary legal avenues to clarify the facts.” “We had a comeback after almost 10 months,” Minji said in the brief speech. “Thanks to our CEO who helped us with our amazing comeback and always supports us.”
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