Court Rules In Favor Of Min Hee Jin Regarding HYBE's Voting Rights + Min Hee Jin To Retain ADOR CEO Position

May 30, 2024

The court has ruled in favor of Min Hee Jin regarding HYBE’s voting rights for her dismissal.

On May 30, the Seoul Central District Court granted Min Hee Jin’s request for an injunction to prohibit HYBE from exercising voting rights regarding her removal from ADOR.

The court stated, “The reasons for Min Hee Jin’s dismissal or resignation claimed by HYBE have not been sufficiently substantiated,” and added, “While Min Hee Jin’s actions may be considered betrayal to HYBE, it is difficult to say that they constitute actions of breach of trust in regards to ADOR.”

Previously on May 7, Min Hee Jin filed for an injunction to prevent HYBE from exercising voting rights in favor of her dismissal at the ADOR extraordinary meeting of shareholders scheduled for May 31. As the court has accepted this request, HYBE will not be able to exercise voting rights regarding Min Hee Jin’s dismissal at the meeting on May 31, meaning that Min Hee Jin will retain her position as the CEO of ADOR. If the injunction had been denied, Min Hee Jin’s dismissal would have been inevitable as HYBE holds 80 percent of its label ADOR’s shares.

Source: Soompi

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