[Official] Min Hee-jin's first appeal trial on the 25.6 billion won put option scheduled for September 18

*This content was translated by AI.

The appeal trial regarding the 25.6 billion won put option lawsuit between former Ador CEO Min Hee-jin and HYBE will resume in September.

The Seoul High Court Civil Division 18-3 has set the first argument session for the stock purchase price claim lawsuit filed by Min Hee-jin Jeon (CEO) against HYBE for September 18. Additionally, the lawsuit filed by HYBE to confirm the termination of the shareholder agreement against Min Hee-jin Jeon (CEO) will also proceed concurrently.

Previously, on February 12, the Seoul Central District Court Civil Collegiate Panel 31 (Presiding Judge Nam In-soo) held a judgment announcement session for the lawsuit filed by HYBE to confirm the termination of the shareholder agreement against Min Hee-jin Jeon (CEO) and the stock purchase price claim lawsuit related to the exercise of the put option filed by Min Hee-jin Jeon (CEO) against HYBE. The court ruled, "HYBE's claims are dismissed, and litigation costs shall be borne by HYBE. Furthermore, Min Hee-jin's exercise of the put option is legitimate, and she shall be paid an amount equivalent to 25.5 billion won," ruling in favor of Min Hee-jin.

Subsequently, on February 25, Min Hee-jin Jeon (CEO) held a press conference at Kyowon Challenge Hall in Seoul Jongno-gu regarding the first-instance victory in the lawsuit concerning the stock purchase price claim related to the exercise of the put option worth 25.5 billion won against HYBE and the confirmation of termination of the shareholder agreement, as well as future plans. She stated, "I am here to inform you that I have decided to exchange the 25.6 billion won I will receive as a result of the victory for other values," and added, "Among all the reasons for making this decision, the most urgent reason is the NewJeans members."

She continued, "Instead of receiving the 25.6 billion won, I propose that all ongoing civil and criminal lawsuits be immediately halted and all disputes be concluded. This proposal includes not only myself but also NewJeans members, outsourcing partner companies, former Ador employees, as well as the termination of all complaints and reports against fans who were hurt by being caught up in this fight."

She also emphasized, "I hope this decision to exchange the huge sum of 25.6 billion won for other values will be sublimated into the overall development and harmony of the K-pop industry. The place where my colleagues at HYBE and I should be is not the courtroom but the stage of creation. I propose that we adults return to our original state of competing in skill on music and stages rather than in court. The longer this dispute drags on, the more those who will suffer together are the artists, who are the protagonists of this industry."

Min Hee-jin Jeon (CEO) proposed to HYBE and Chairman Bang Si-hyeok, "Let us meet now not in our courtroom but at a place of creation. In an era where corporate responsibility has become severe with amendments to the Commercial Act in July 2025, resolving risks in the entertainment industry and choosing harmony will be the most prudent management decision for shareholders and fans."

However, to prevent the provisional enforcement of the first-instance judgment, HYBE deposited a litigation guarantee fund of 29.25 billion won at the Seoul Central District Court.

Subsequently, HYBE applied through the Seoul High Court for the cancellation of compulsory execution related to the stock purchase price claim against Min Hee-jin Jeon (CEO) and others. Prior to this, HYBE had already applied for the attachment and collection order of Min Hee-jin Jeon (CEO)'s creditor rights (bank accounts) and, along with appealing the first-instance judgment on the stock purchase price, requested a suspension of compulsory execution. The court accepted this request, and compulsory execution is currently suspended.

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*This content was translated by AI.