Min Hee-jin signals willingness to sacrifice lawsuit payout amid NewJeans dispute
Min Hee-jin, the former head of ADOR, says she’s willing to walk away from the big payout she just won in court if it helps settle the ongoing fight over NewJeans. That’s a huge move, considering how much is at stake both emotionally and in business for everyone involved.
Just recently, a Seoul court sided with Min in her legal battle against HYBE over a shareholder put-option. The win could have landed her about 25.5 billion won, or $17–18 million. It was a major victory, flipping the momentum in a public feud that’s only gotten louder since things blew up between HYBE and its subsidiary, ADOR, earlier this year.
But for Min, money isn’t the point. She’s been clear: ” Today, this is where I will disclose what I have chosen to trade the 25.5 billion won I obtained from this ruling for.
Although this funding is extremely valuable to me, there is something I consider even more important, so I would like to present a proposal to HYBE.
I propose to HYBE that, in return for relinquishing the 25.5 billion won, they cease all lawsuits currently in progress to date, including those concerning the NewJeans members and everyone else involved in this matter.
I can no longer endure seeing members who ought to be joyfully performing on stage instead appearing in a courtroom. Neither the members on stage nor the fans can feel happy witnessing this situation. As I have stated repeatedly, there are values I hold dear that surpass money. The NewJeans members must be going through an extremely difficult time right now, and I want them to know that there are adults who stand by their side.
I hope that this decision to forgo 25.5 billion won will help contribute to the growth of K-pop. I had a clear vision when launching NewJeans. While it is deeply unfortunate, I hope ADOR will uphold the commitments regarding activities that it stated in court.
Clearing the way for the artists to shine once more, that is the only responsibility adults should fulfill.
The 25.5 billion won does not outweigh the importance of the artists reclaiming a peaceful daily life. I hope that we, as adults, can go back to the fundamental principle of competing through music and performances on stage, instead of through legal battles in court.
I say this to HYBE and Chairman Bang Si-hyuk: let us come together through our work, through music and creative endeavors.
Opting for reconciliation is the most prudent choice for shareholders and fans alike. As the head of ooak Records, I plan to move forward on a new path.
I hope that, after today, there will be no further draining press conferences. From this point forward, I want to meet you not in press conference halls, but on the stage of creation.
I hope that the sincerity I have shown today is delivered and serves as a chance for the entire K-pop industry to breathe once more. Today, the KOSPI exceeded 6,000… I hope HYBE will review my proposal in a constructive way.”
what matters most to her is NewJeans, the group she helped create and produce. That’s really where her focus is protecting the group’s future and well-being. NewJeans sits right at the heart of all this, caught up in a tangle of contract issues, power struggles, and accusations of meddling behind the scenes.
HYBE isn’t backing down, though. They’ve already said they plan to push back on parts of the ruling, so this legal fight isn’t over by a long shot. Meanwhile, the whole mess has people everywhere arguing about artist rights, company control, and how exclusive contracts work in K-pop.
Some industry insiders see Min’s offer as both clever and meaningful a way to calm things down and show she’s serious about supporting NewJeans’ independence. Still, lawyers are quick to remind everyone that, in the end, contracts and courts decide what actually happens, no matter how good the intentions.
As negotiations and appeals drag on, nobody really knows what’ll happen to NewJeans. But whatever comes next, it’s clear this case could change more than just one group’s future. The outcome might shake up how executives, artists, and labels share power across the whole K-pop world.
Source:(1)
Reportby: hannahlim@ygkplusofficial.com
Read also: Min Hee-jin Escalates Legal Battle With HYBE, Seeks Asset Freeze Amid Dispute and Media Allegations
SOUTH KOREAN BASED PROFESSIONAL JOURNALIST
