{"id":8249,"date":"2024-06-03T21:13:11","date_gmt":"2024-06-03T15:43:11","guid":{"rendered":"https:\/\/gossipsdiary.com\/?p=8249"},"modified":"2024-06-03T21:13:14","modified_gmt":"2024-06-03T15:43:14","slug":"hybe-vs-ador-everything-to-know-about-the-min-hee-jin-controversy","status":"publish","type":"post","link":"https:\/\/gossipsdiary.com\/hybe-vs-ador-everything-to-know-about-the-min-hee-jin-controversy\/","title":{"rendered":"HYBE vs ADOR: Everything to know about the Min Hee-jin Controversy"},"content":{"rendered":"\n

A legal battle that\u2019s occurring between the two industry giants has shaken the K-pop world, \u201cThe controversy between HYBE and ADOR.\u201d Min Hee Jin, the CEO of ADOR is at the main center of her own,\u201d Min Hee Jin controversy.\u201d Apart from being CEO, she is also the former creative director at SM Entertainment who is recalled by her work with legendary K-pop groups<\/a> like Girls\u2019 Generation and Red Velvet.<\/p>\n\n\n\n

If we look at HYBE closely then it is home to various global sensations like BTS and many other successful K-pop acts. Now getting a closer look at the controversy, in Min Hee Jin HYBE controversy, the powerhouse company has leveled some serious allegations of financial wrongdoing against the CEO Min Hee Jin. HYBE has alleged Min hee by saying that she has misused the fund and committed embezzlement putting the company\u2019s financial interest and its artists at risk. Concerns over the integrity of the industry and the management of K-pop talent have been raised by this legal action, which has exacerbated the current dispute between HYBE and ADOR.<\/p>\n\n\n\n

HYBE Min Hee Jin controversy<\/h2>\n\n\n\n

Months have passed while charges of financial impropriety and contract violations have been leveled against HYBE and ADOR. As HYBE, Min Hee Jin HYBE has vehemently refuted these allegations, maintaining her innocence and pledging to defend herself in court. Min Hee Jin was accused of embezzlement.<\/p>\n\n\n\n

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Credits: Times Now<\/figcaption><\/figure>\n\n\n\n

Recent reports from a South Korean news source state that HYBE has filed a lawsuit against Min Hee on the grounds of alleged business embezzlement. If the accusations in the complaint, which was filed last month, turn out to be genuine, HYBE could be able to purchase Min Hee Jin’s shares in ADOR for a meager $2.4 million. In the event of a breach, HYBE is entitled, under the terms of its contract, to repurchase shares from the affected parties directly or through a third party.<\/p>\n\n\n\n

The HYBE Min Hee Jin controversy is gaining international attention from K-pop fans and industry insiders as it develops. The resolution of this legal dispute may have significant effects on both the financial stability of the K-pop industry and the management of its artists. The story of Min Hee Jin HYBE looks to be a big one in the continuing story of K-pop entertainment, with both sides remaining steadfast in their beliefs.<\/p>\n\n\n\n

Both industry insiders and fans are excited for more news, especially any Min Hee Jin interviews that might clarify the situation. Meanwhile, rumors concerning Min Hee Jin net worth<\/a> and the possible financial consequences of the court dispute are still circulating.<\/p>\n\n\n\n

The Partnership Sours<\/h3>\n\n\n\n

The ideal combination of HYBE and ADOR was meant to be a match made in K-Pop<\/a> heaves. It is a beautiful combination of HYBE\u2019s business acumen and Min Hee Jin\u2019s creative vision. However, from early 2022, a line was separation started to become more visible. It was when HYBE accused Min Hee of platting to wrest control of ADOR from the parent company.<\/p>\n\n\n\n

Then late in the year 2023, the separation took a bold move when HYBE launched an internal audit, alleging that Min Hee Jin was the one who was misusing the company\u2019s finance, and data and was also engaged in embezzlement. The accusations of the audit were severe, with HYBE claiming that Min Hee Jin had jeopardized the financial interest of the company and its artists.<\/p>\n\n\n\n

HYBE Min Hee Jin, for her part, vehemently denied the allegations, asserting her innocence and vowing to defend herself against HYBE’s legal onslaught.<\/p>\n\n\n\n

Things you must know about the HYBE Min Hee Jin controversy<\/h2>\n\n\n\n

The ongoing battle between parent company HYBE and it\u2019s subsidiary ADOR was reported by the leading South Korean media outlet MTN. The controversy started when the former requested the latter\u2019s CEO, Min Hee-Jin to step down from her existing position on April 22, 2024.<\/p>\n\n\n\n

Now the question arises why was Min Hee Jin removed from her position of CEO? So for closure, this decision came after the corporation allegedly discovered that Min Hee-jin was planning to quit the parent company and separate ADOR from HYBE. Additionally, she was accused of securing independent management rights for ADOR and initiated an audit against her and the board of directors, who were siding with Min Hee-jin.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/current_monitor\/status\/1782289889599381685?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1782289889599381685%7Ctwgr%5Ecd53ddeb57edf4e7078b83f2a52b340d0eeb41fa%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.sportskeeda.com%2Fus%2Fk-pop%2Fhybe-x-ador-min-hee-jin-s-feud-timeline-all-know-ongoing-battle-parent-company-subsidiary\u00a0\n<\/div><\/figure>\n\n\n\n

The battle between the parent company and the subsidiary worsened in the passing days, and HYBE\u2019s stock price reportedly hit rock bottom. Looking at the stock prices it witnessed a drop of 7.81% with the stock price at $155 from the preceding day, which stood at $168.<\/p>\n\n\n\n

Min Hee Jin HYBE and ADOR CEO continued an ongoing battle as the latter organized a conference to disclose more hidden thing<\/h3>\n\n\n\n

 Se Daily, a South Korean media outlet reported about the HYBE accusations mentioned in their audit report. HYBE disclosed how Hee-Jin was guilty of leaking sensitive financial and contractual information, artist\u2019s personal data, and taking illegal and external consultancy to sell HYBE\u2019s 80% shares of ADOR.  The ADOR CEO and her two close associates were also allegedly involved in hatching a conspiracy against the corporation.<\/p>\n\n\n\n

The audit report even accused Min Hee-jin of creating negative public opinions against HYBE artists. In addition, one of the CEOs who was transferred from HYBE to ADOR had already secured several secret trade agreements from the corporation and planned to use them to secure independent management rights from HYBE for ADOR.<\/p>\n\n\n\n

Afterward, Hankyung News\u2019 Market Insight reported that Min Hee-jin allegedly planned to use NewJeans to compel HYBE to sell their share to her.<\/p>\n\n\n\n

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Dispatch reveals more information about Min Heejin\u2019s coup against HYBE, including reports of in-house abuse:

\u2014 \u201cAccording to industry insiders, CEO Min Hee Jin has been seeking independence for a long time. She has secretly approached insiders and looked for a way to buy HYBE\u2019s\u2026 pic.twitter.com\/t5RE4xN5Zq<\/a><\/p>— Kpop Charts (@kchartsmaster) April 22, 2024<\/a><\/blockquote>