HYBE deposited KRW 29.25 billion (USD $20 million) with a Seoul court to delay paying damages owed to Min Hee-Jin — on the same day the former CEO of HYBE-owned label ADOR publicly offered to waive the payout entirely if the K-pop giant agrees to end all litigation between them.
On Wednesday (February 25) last week, Min held a press conference in Seoul’s Jongno district, telling reporters that she has “decided to trade the 25.6 billion won from the lawsuit victory for a greater value.”
It follows the Seoul Central District Court’s order for HYBE to pay Min’s put option tied to her former stake in ADOR. The court dismissed HYBE’s lawsuit that sought validation of the contract termination and sided with Min in her claim for payment.
“I propose that in exchange for my waiving the 25.6 billion won, all ongoing civil and criminal lawsuits be immediately halted and all disputes resolved,” Min said during her press conference.
The proposal pushes for ending all HYBE lawsuits against Min, NewJeans members, external partner companies, former ADOR employees, and even fandoms, Min said.
HYBE, however, filed the deposit the same day as part of its request for a stay of enforcement to delay payment until the ruling is finalized, Korea JoongAng Daily reported.
The news outlet said courts typically grant such stays contingent on the losing party securing the amount at issue. HYBE had filed its appeal six days earlier, on February 19, after losing a civil case over a shareholders’ agreement it once held with Min.
The dispute dates back to April 2024, when HYBE launched an audit claiming Min attempted to seize control of ADOR by approaching external investors about spinning off the subsidiary. HYBE terminated the shareholder agreement in July 2024, arguing that it was not obligated to buy back Min’s shares in ADOR as part of her put option. Min, however, claimed that HYBE’s argument was not valid.
After Min was dismissed as CEO of ADOR in August 2024, she then resigned as an internal director at the label in November of that year, issuing a public letter in which she alleged that HYBE’s actions against her were retribution for her attempt to blow the whistle on misconduct within the K-pop giant. Min also alleged that another HYBE group, ILLIT, copied NewJeans.
The saga also prompted ADOR acts NewJeans to announce in late 2024 that they have left the HYBE label. However, after months of legal battle, NewJeans lost their appeal in June, preventing the group from pursuing independent activities without approval from ADOR.
During Min’s press conference last week, she also called on HYBE to drop a legal dispute between ADOR and production company Dolphiners Film, as well as the damages lawsuit ADOR lodged against NewJeans member Danielle, Min herself, and a member of Danielle’s family.
Min said: “Only when all these lawsuits are concluded can we prevent further baseless noise affecting the artists, their families, and the fandom.”
Min, who founded a new label called ooak Records after departing ADOR, used the press conference to formally close her chapter as ADOR CEO.
She appealed directly to HYBE Chairman Bang Si-hyuk, saying: “Let us meet in the realm of creation, not in the courtroom.”
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