HYBE Accepts Court’s Decision Regarding Min Hee Jin’s CEO Position + To Prepare Next Actions

May 30, 2024

HYBE has released an official statement regarding their stance on the recent court ruling in favor of Min Hee Jin.

Earlier 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.

HYBE’s statement is as follows:

Our company respects the court’s decision regarding the provisional injunction lawsuit filed by CEO Min Hee Jin and will not exercise voting rights in favor of the “Dismissal of Inside Director Min Hee Jin” at the upcoming extraordinary meeting of shareholders.

Furthermore, as the court has clearly stated in this decision that “it is evident that Min Hee Jin sought ways to weaken HYBE’s control over ADOR and allow Min Hee Jin to control ADOR independently by either taking NewJeans out of HYBE’s control or pressuring HYBE to sell its shares in ADOR,” our company plans to proceed with subsequent steps within the boundaries set by the law.

Source: Soompi

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