[Official] Min Hee-jin vs. HYBE Shareholders' Agreement Lawsuit: Appeal Hearing to Begin on December 17

*This content was translated by AI.View Original

The appeal hearing in the lawsuit seeking confirmation of termination of the shareholders' agreement between former ADOR CEO Min Hee-jin and HYBE is set to begin in December.

The Seoul High Court has scheduled the first argument date for the appeal in the lawsuit seeking confirmation of termination of the shareholders' agreement filed by HYBE against Min Hee-jin Jeon (CEO) for December 17.

Previously, on February 12, Civil Division 31 (Presiding Judge Nam In-soo) of the Seoul Central District Court held a sentencing hearing for the lawsuit seeking confirmation of termination of the shareholders' agreement filed by HYBE against Min Hee-jin Jeon (CEO), and the lawsuit for payment of stock purchase price related to the exercise of put options filed by Min Hee-jin Jeon (CEO) against HYBE. The court ruled, "HYBE's claim is dismissed, and HYBE shall bear the litigation costs. Additionally, Min Hee-jin's exercise of put options is legitimate, and an amount equivalent to 25.5 billion won shall be paid," ruling in favor of Min Hee-jin.

Subsequently, on February 25, Min Hee-jin Jeon (CEO) held a press conference at the Kyowon Challenge Hall located in Jongno-gu, Seoul, regarding the outcome of winning the first-instance lawsuit for payment of stock purchase price related to the exercise of put options equivalent to 25.5 billion won and confirmation of termination of the shareholders' agreement with HYBE, as well as future plans. She stated, "I am here to inform you that I have decided to exchange the 25.6 billion won obtained as a result of the victory for other values," adding, "The most urgent reason among all reasons for making this decision is precisely for the members of NewJeans."

She continued, "Instead of relinquishing the 25.6 billion won, I propose to immediately halt all ongoing civil and criminal lawsuits and conclude all disputes. This proposal includes the termination of all complaints and indictments directed not only at me personally but also at the members of NewJeans, outsourced partner companies, former ADOR employees, and the fandoms who have been hurt by being caught up in this fight."

She further emphasized, "I hope that this decision to exchange the large sum of 25.6 billion won for other values will be sublimated into the overall development and harmony of the K-pop industry. Where Min Hee-jin and HYBE should be is not in courtrooms but on the stage of creation." She added, "I propose that we adults return to our original form of competing with our skills on music and stages rather than in courtrooms. The longer this dispute drags on, the more the artists, who are the protagonists of this industry, will suffer together."

Min Hee-jin Jeon (CEO) proposed to HYBE and Chairman Bang Si-hyeok, "Let us now meet not in courtrooms but at our creative posts. In an era where corporate responsibility has become grave due to revisions such as the Commercial Act amendment in July 2025, choosing to resolve risks in the entertainment industry and select harmony will be the wisest management judgment for shareholders and fans."

However, HYBE deposited a litigation security deposit of 29.25 billion won with the Seoul Central District Court to prevent the provisional execution of the first-instance ruling.

Subsequently, HYBE applied through the Seoul High Court for the cancellation of compulsory execution regarding the claim for stock purchase price against Min Hee-jin Jeon (CEO) and others. Prior to this, HYBE had applied for a stay of compulsory execution along with its objection to the first-instance ruling on the stock purchase price, following Min Hee-jin Jeon (CEO)'s application for seizure and collection order of her claims (deposit accounts). The court accepted this, and compulsory execution is currently stayed.

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*This content was translated by AI.View Original