'Foot option won' Min Hee-jin said, "Good job on the hive.."I'm going to concentrate on my day job" [Professional]

*This content was translated by AI.

OK Records announced its position after CEO Min Hee-jin won the Hive put option lawsuit.

OK Records said in its official position on the 12th, "I deeply respect the court for making a careful and objective judgment. We respect and humbly accept the decision of the court on the validity of the shareholder contract and the legitimacy of the put option rights through this ruling," he said.

"CEO Min Hee-jin has been hoping that the litigation process will go beyond relieving individual rights, correcting unreasonable practices in the K-pop industry and reflecting on the severity of contracts," Okarekoz said. "Apart from the results of the judgment, I would like to express my apologies to fans and entertainment industry officials who must have felt tired during the last dispute." I would like to say to the Hive officials who have been working together for a long legal battle," he said.

"Okay Records and CEO Min Hee-jin want to move toward the future as planned, not stay in the past disputes," he said. "We will focus all our capabilities on building a stable business environment, maximizing the value of artists, and fostering new talents to represent the K-pop industry."

In addition, OK Records said, "We will devote all our energy to discovering artists and creating content that inspires global fans in an original way that only OK Records can do. CEO Min Hee-jin also plans to focus on his main job as a creator, producer, and manager."

Earlier in the day, the Civil Agreement Department 31 (Director Nam In-soo) of the Seoul Central District Court held a ruling on Hive's decision to terminate the shareholder contract filed against former CEO of ADOR Min Hee-jin and a stock sale price claim filed by former CEO Min Hee-jin against Hive, saying, "Hive's claim is dismissed, and the cost of the lawsuit is borne by Hive. In addition, Min Hee-jin ruled in favor of Min Hee-jin, saying, "Min Hee-jin's exercise of put options is justified and pay an amount worth 25.5 billion won."

Hello, we're OK Records.

I would like to convey the official position of OK Records regarding the first trial ruling between CEO Min Hee-jin and Hive, which was sentenced by the Seoul Central District Court on February 12th.

First of all, I would like to express my deep respect to the court for making a careful and objective judgment. We respect and humbly accept the decision of the court on the validity of the shareholder contract and the legitimacy of the put option right through this ruling.

CEO Min Hee-jin has been hoping that the litigation process will go beyond relieving individual rights, correcting unreasonable practices in the K-pop industry and reflecting on the severity of contracts. Apart from the results of the judgment, I would like to express my apologies to fans and entertainment industry officials who must have felt tired during the last dispute. I would like to say to the Hive officials who have worked together for a long legal battle.

Now OK Records and CEO Min Hee-jin want to move toward the future as planned, not stay in the past disputes. OK Records will focus all its capabilities on building a stable business environment, maximizing the value of artists only, and fostering new talent to represent the K-pop industry.

We will also devote all our energy to discovering artists and creating content that inspires global fans in an original way that only OK Records can do. CEO Min Hee-jin also plans to now focus on his main job as a creator, producer, and manager.

I sincerely thank the fans and partners for trusting and watching CEO Min Hee-jin and OK Records. Rather than a wasteful dispute, we will be OK Records who will repay you with new music and performances.

Thank you.

Once again, I would like to express my gratitude to everyone who has been with me.

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*This content was translated by AI.