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| yna@yna.co.kr 2024-05-31 17:06:00
SEOUL, May 31 (Yonhap) -- Min Hee-jin, CEO of ADOR, reached out for reconciliation with HYBE on the 31st, stating, "Is it betrayal to achieve in two years what a boy group would take seven years to do?" She expressed her hope for a compromise with HYBE.
At a press conference held at the Korea Press Center in Jung-gu, Seoul, Min said, "I achieved in two years what other boy bands might achieve in five or seven years. Can you call the president of a subsidiary who achieved such results a betrayer?" She added, "I hope a compromise can be reached with HYBE. We’ve exchanged blows, so let's consider it done and stop sulking."
Min emphasized that she would be willing to compromise on certain points if the non-compete clause was removed, stating, "I don't mind how the shareholder agreement is modified. Meeting quickly would be beneficial for everyone."
The court accepted Min’s application for an injunction to prohibit HYBE from exercising its voting rights, saving her from dismissal. The court noted that while Min's attempt to independently control ADOR might be seen as "betrayal," it did not amount to a "breach of trust" against ADOR.
Min shared that NewJeans members were ecstatic about the court decision, saying, "The NewJeans members were ecstatic yesterday. If there were no schedules, we would have met up." Despite Min being retained at the interim shareholders' meeting, HYBE, which holds an 80% stake in ADOR, dismissed Vice President Shin Mo and Director Kim Mo, appointing its internal executives Kim Ju-young (CHRO), Lee Jae-sang (CSO), and Lee Kyung-joon (CFO) as new directors.
Min addressed concerns about the new directors potentially not cooperating with ADOR's management, stating, "If they don't cooperate, it could be considered a breach of trust against ADOR. I don't think they will make such a judgment. If HYBE has a vision for developing ADOR and NewJeans, they will collaborate."
She also highlighted the challenges of maintaining loyalty to the parent company while leading ADOR, stating, "To stay loyal to the parent company, there are times when I might have to betray NewJeans or ADOR. But my priority is being the president of ADOR. That's why ADOR is an independent entity."
Min reiterated that her vision for NewJeans is for them to "just live happily," emphasizing the importance of guiding and mentoring them. "After seven years as artists, they might want to get married or study abroad. Ensuring they live the lives they want is the long-term way to support them."
This was Min's second press conference since the dispute between HYBE and ADOR, following the first one 36 days ago on April 25. She expressed frustration with the ongoing conflict, saying, "I don't know who this dispute is for or what it aims to achieve. I'm tired of the blame and criticism. Everyone is fed up."
She called for more constructive discussions, considering what would be more beneficial for everyone. "Given the court's ruling that there was no breach of trust against ADOR, these issues need to be discussed more constructively. The situation needs to change for everyone's sake," she added, emphasizing that this approach is both a managerial mindset and the right thing to do on a human level.
Appearing more relaxed and smiling this time, Min wore a yellow jacket with her hair tied back, contrasting her previous appearance marked by fatigue. Reflecting on the past month, she said, "It was a difficult experience I hope never to face again. However, personally, I feel relieved as I've been cleared of false accusations. I feel like a significant burden has been lifted."
Despite the remaining challenges, Min expressed confidence in her managerial skills, stating, "I have a knack for management."
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