Min Hee-jin, NewJeans in exchange for 25.6 billion won..."Hive suggests ending all disputes" [the star scene]

*This content was translated by AI.

Min Hee-jin, the former CEO of ADOR, who created the girl group NewJeans, and the current CEO of OK Records, made a proposal to Hive for 25.6 billion won.

On the 25th, Min Hee-jin held a press conference on the results and future plans of winning the first trial of a lawsuit to confirm the termination of the shareholder contract and the stock purchase price with Hive at the Teacher Challenge Hall in Jongno-gu, Seoul. It was originally scheduled to start at 1:45 p.m., but due to a six-minute delay, Min Hee-jin arrived at 51 minutes.

On this day, Min Hee-jin said, "I walked into the next building. You must have thought that I would do freestyle, but what I have to say today is a very important story, so I will explain it as I read it. I hope you will listen carefully," he said, opening his laptop and reading the manuscript he had prepared.

Min Hee-jin said, "It has been a really long tunnel from winning the provisional injunction in 2024, refusing to send the police in 2025, and winning the first trial ruling in 2026. It's been a really long tunnel from winning the provisional injunction in 2024, non-return to police in 2025, and winning the first trial ruling in 2026. The court said, "The stimulating frame of 'stealing management control' and 'tamping' was an illusion, and he acknowledged that the problem consciousness of creative ethics I raised was a management judgment that should be made as a representative of a company."

He then said, "This is to tell you that I have decided to exchange 25.6 billion won I will get in return for winning for other values. 25.6 billion won is a huge amount that most people cannot afford even for a lifetime. And it's a very precious fund for me, who just announced a new beginning. But I'm holding this press conference to make a meaningful offer to Hive because it's worth much more than this huge amount of money, he said. "Of all the reasons I made this decision, the most urgent reason is because of the members of 'NewJeans'."

Min Hee-jin said, "Instead of putting down 25.6 billion won, I propose to immediately stop all ongoing civil and criminal lawsuits and close all disputes. The proposal includes not only me personally, but also NewJeans members, outsourcing partners, and employees from all over the ADOR, but also all complaints and accusations against fandom hurt by being caught up in the fight. Only when all these litigation disputes are over will there be no further indiscriminate noise, not only from artists but also from their families and fandom," he said.

On the 12th, the Civil Agreement Department 31 (Director Nam In-soo) of the Seoul Central District Court held a ruling on Hive's lawsuit against former CEO of ADOR Min Hee-jin to confirm the termination of the inter-shareholder contract and a lawsuit against former CEO Min Hee-jin for the exercise of put options against Hive. At the time, the court said, "Hive's claim is dismissed and the litigation costs are borne by Hive. In addition, he ruled in favor of Min, saying, "Min Hee-jin's exercise of put options is justified and should be paid 25.5 billion won."

However, on the same day, Hive immediately said, "It is regrettable that our claims have not been fully accepted," and added, "We will proceed with future legal procedures such as appeals after reviewing the judgment."

Afterwards, Min Hee-jin applied for the seizure of the deposit account against Hive in accordance with the court's ruling, but it was not accepted. The court cited Hive's application for a stay of execution.

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*This content was translated by AI.