[Exclusive]Min Hee-jin, who won at first instance, to have her put option appeal finalized on December 9… The panel has changed

*This content was translated by AI.View Original

The appeal in the 25.6 billion won put option lawsuit between former ADOR CEO Min Hee-jin and HYBE will begin in December.

The 12-3 Civil Division (B) of the Seoul High Court set the first hearing date for the stock purchase price claim lawsuit filed by former CEO Min Hee-jin against HYBE for December 9.

The previous panel, the 18-3 Civil Division of the Seoul High Court, had initially set the first hearing date for this lawsuit as September 18, but changed it to a tentative date and went through the procedure of reassigning the case to a new panel.

Regarding the court’s case assignment, while there are various reasons for reassignment, no clear reason has been confirmed. However, various reactions have emerged regarding its connection with the timing when Min Hee-jin’s side replaced her legal team. In this regard, it is known that Min Hee-jin’s side stated, “This is part of a restructuring to respond efficiently and consistently to multiple ongoing lawsuits.”

In addition, the first hearing date for the appeal in the lawsuit seeking confirmation of termination of the shareholders’ agreement filed by HYBE against former CEO Min Hee-jin is scheduled to be held on December 17.

Prior to this, the 31st Civil Division (Presiding Judge Nam In-soo) of the Seoul Central District Court held a judgment pronouncement hearing on February 12 for the lawsuit seeking confirmation of termination of the shareholders’ agreement filed by HYBE against former CEO Min Hee-jin, and the stock purchase price claim lawsuit related to the exercise of put options filed by former CEO Min Hee-jin 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 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, former CEO Min Hee-jin held a press conference at the Kyowon Challenge Hall located in Jongno-gu, Seoul, regarding the outcome of winning the first-instance lawsuits for the stock purchase price claim related to the exercise of put options worth 25.5 billion won against HYBE and confirmation of termination of the shareholders’ agreement, as well as her 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 winning 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 stop all ongoing civil and criminal lawsuits and conclude all disputes. This proposal includes not only my personal matters but also the termination of all complaints and indictments directed toward NewJeans members, outsourced partner companies, former ADOR employees, and the fandom that has been hurt by being caught up in this fight.”

She also emphasized, “I expect this decision to exchange the large sum of 25.6 billion won for other values to 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.” She added, “I propose that we adults return to our original form of competing in skill 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.”

Former CEO Min Hee-jin proposed to HYBE and Chairman Bang Si-hyeok, “Let us now meet not in the courtroom, but at our creative posts. In an era where corporate responsibility has become serious due to the Commercial Act amendment in July 2025, resolving risks in the entertainment industry and choosing harmony will be the wisest management judgment for shareholders and fans.”

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

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

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*This content was translated by AI.View Original