Lawyer Change → Court Reassignment.. Min Hee-jin's 256 Billion Won Put Option Lawsuit 'All Stop' [★FOCUS]

*This content was translated by AI.

Ahead of the second trial in the 256 billion won put option lawsuit between former Ador CEO Min Hee-jin and HYBE, several changes are emerging, including court reassignment and a change in legal representation.

The Seoul High Court's 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 on September 18, changing it from a tentative date. The reason was court reassignment. While there are various reasons for case reassignment by courts, no clear reason has been confirmed; however, reactions have emerged regarding its possible connection to the timing of Min Hee-jin's side changing legal counsel.

Regarding this, Min Hee-jin's side is reported to have stated that it was part of a restructuring "for efficient and consistent handling of multiple ongoing lawsuits."

Previously, on February 12, the Seoul Central District Court's Civil Collegiate Panel 31 (Presiding Judge Nam In-soo) held a judgment announcement session for the lawsuit filed by HYBE against Min Hee-jin Jeon (CEO) seeking confirmation of termination of shareholder agreements and the stock purchase price claim lawsuit filed by Min Hee-jin Jeon (CEO) regarding the exercise of put options. The court ruled to dismiss HYBE's claims, stating that litigation costs shall be borne by HYBE. It further held that "Min Hee-jin's exercise of the put option was legitimate and ordered payment of an amount equivalent to 25.5 billion won," ruling in favor of Min Hee-jin.

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

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

She further stated, "I hope that 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 I and HYBE should be is not the courtroom but the stage of creation. I propose that we adults return to our original form, competing in music and on stages rather than in courtrooms. The longer this dispute continues, the more those who suffer 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 stricter with amendments to the Commercial Act in July 2025, resolving risks in the entertainment industry and choosing harmony will be the wisest management decision for shareholders and fans."

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

Thereafter, HYBE applied through the Seoul High Court for 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 seizure and collection orders against Min Hee-jin Jeon (CEO)'s receivables (bank accounts) and, along with appealing the first-instance judgment on the stock purchase price, requested 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.