The court has ruled in favor of Min Hee Jin in the dispute between the ADOR’s CEO and its parent company HYBE.
The 50th Civil Agreement Division of the Seoul Central District Court on May 30th granted an injunction filed by ADOR CEO Min Hee Jin against HYBE to prohibit the exercise of voting rights.
The court ruled that “HYBE’s claims about the reasons for Min’s dismissal or resignation have not been sufficiently explained” and that “Min’s actions may be considered an act of betrayal against HYBE, but it is difficult to say that they constitute a breach of trust against ADOR.”
This decision means that HYBE, which owns 80% of Adore’s shares, will not be able to exercise its voting rights to dismiss CEO Min at the extraordinary general meeting of shareholders on May 31st.
Min Hee Jin, who has retained her position, is expected to take overall command of NewJeans’s new album activities, which are scheduled to begin in earnest next month.
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