*This content was translated by AI.
Min Hee-jin, former CEO of A-Door, insisted on Hive's "taming the label."
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 this day, Min Hee-jin said, "This case is particularly talkative. Rumors were the only reason plaintiff Hive launched an audit of defendant Min Hee-jin in 2024, and when he attacked in all directions, the only reason was the contents of the messenger conversation. Even now, the story is being completed by adapting years of messenger conversations. The plaintiff's claim begins with the fact that the defendant tried to take over Odor. However, the plaintiff robbed the defendant, but no evidence appeared anywhere. He claimed that he violated the contract between shareholders only by saying speculation."
Min Hee-jin then said, "This case is about removing the plaintiff's cornerstone and taming the label. They say they will set an example through crossfire that individuals cannot handle. This representative had a surprising experience in the process of preventing Min Hee-jin from being dismissed as CEO. Dozens of petitions came out in the short hearing. It was intended to oppose Min Hee-jin's dismissal, and even though people in various fields who have worked with the defendant have no choice but to look at Hive, he said that Min Hee-jin has worked sincerely and pleaded to continue working together."
"Please look at this case rationally and objectively without being misled by the storytelling of the plaintiff who ridicules and adapts private conversations," 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.
