*This content was translated by AI.
Hive still insists on a plan to escape from the door by Min Hee-jin, former CEO of the door, and the girl group Newzins.
On the morning of the 15th, the Civil Agreement Department 31 (Chief Judge Nam In-soo) of the Seoul Central District Court held a final hearing on Hive's lawsuit against Min Hee-jin to confirm the termination of the contract between shareholders and Min Hee-jin's lawsuit against Hive for stock trading related to the exercise of put options. Min Hee-jin was absent, and only representatives from both sides attended.
On the same day, Hive emphasized the fact that it provided 21 billion won to Newzins, launched by Min Hee-jin, even before its debut, and said, "The defendants sought a way to independently control Adore with the aim of taking Newzins out of Hive. This is a fact that was recognized in the decision of provisional injunction in May and subsequent court decisions," he said.
"The evidence, such as the Kakao Talk conversation, written documents, and the defendants' words and actions, makes it clear what the defendants were trying to do," Hive said, adding, "We planned a public opinion lawsuit to pressure the plaintiff to sell the stake in Audor and created a justification for Newzins to terminate the exclusive contract. It was never an imagination or small talk in a messenger conversation. The defendants consulted industry workers and legal experts. We have also offered deals and meetings to parents of Newzins and potential investors," he claimed.
In particular, he emphasized that the reasons for termination of the contract that the members of the New Jeans put forward during the dispute last year were all matters prepared by the defendants in 2024 as a public opinion contest, and said, "The court ruling revealed that all of them were unfounded. Mutual cooperation for the growth and development of Adore is the purpose of the shareholder contract, but cooperation with the other party whose trust relationship has been broken is no longer possible," he said.
Earlier in July 2024, Hive terminated the contract between shareholders, saying Min Hee-jin tried to privatize Newgens and Adore and caused damage to the company and its affiliated labels. After that, Min Hee-jin was dismissed from his position as CEO of Audor a month later. Eventually, in November of the same year, Min Hee-jin resigned from his position as the company's executive director and notified Hive of the exercise of put options worth about 26 billion won. However, Hive argued that the shareholder agreement had already been terminated in July, making it ineffective for the exercise of put options.
In response, Min Hee-jin refuted that Hive's notice of termination was invalid because there was no violation of the shareholders' contract, maintaining the position that the right to claim payments should be recognized because the put option exercised by him is valid.
In the process, Newzins lost the first trial to confirm the validity of the exclusive contract with Adore in October last year, and all members expressed their intention to return to Adore without appeal. However, in December of the same year, Odor notified Daniel of the termination of the exclusive contract and filed a lawsuit against Daniel, a family member, and Min Hee-jin for damages worth 43.1 billion won. Min Hee-jin established a new agency, "Okay," in October last year.
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*This content was translated by AI.
