*This content was translated by AI.
Min Hee-jin, former CEO of ADOR, released a meaningful video after winning the Hive put option lawsuit.
Former CEO Min Hee-jin posted a short video on the 12th.
The video showed a dinosaur character wearing a blue hat and green stripes riding a bicycle.
Dinosaur characters often appear in OK Records promotional videos and are believed to be the representative image of the new boy group.
In particular, the clothes worn by the dinosaur look similar to the clothes worn by former representative Min Hee-jin during the first press conference, which he held immediately after the invitation of Hive's audit rights.
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."
Since then, Okarekoz said in an official position on the same day, "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."
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*This content was translated by AI.


