Seoul, South Korea – The CEO of ADOR, Min Hee-jin, has made a bold choice to defy a board meeting request from HYBE, sparking a high-stakes corporate dispute in the world of K-pop entertainment giants.
Min Hee-jin recently announced her decision not to convene a board meeting with HYBE, citing the request as legally invalid due to the limited scope of authority for such meetings by auditors. This move came after HYBE initiated a surprise audit of ADOR’s management, leading to accusations of embezzlement against Min Hee-jin.
In response to HYBE’s calls for her resignation and the scheduled board meeting, ADOR has stood its ground by refusing to comply. The conflict has escalated, leading HYBE to file a request with the court for a temporary general meeting of shareholders, aiming to overhaul the current board of directors with new appointments.
Accusations of Min Hee-jin plotting to seize control of the company, allegedly seeking guidance from a shaman, have further fueled the tensions between the two entities. However, during an emergency press conference, Min Hee-jin vehemently denied these claims, presenting messages that countered HYBE’s allegations and labeling the accusations as retaliation for an internal complaint regarding copyright issues.
In response to Min Hee-jin’s statements, HYBE rebuffed many of her claims as factually incorrect and reiterated their stance on her unsuitability as an executive. The clash between ADOR and HYBE showcases a power struggle within the K-pop industry, highlighting the complex dynamics of corporate governance and decision-making processes in entertainment conglomerates.
As the standoff continues, the future of ADOR and the implications of this corporate feud remain uncertain. The clash between Min Hee-jin and HYBE underscores broader issues of transparency, accountability, and leadership within the highly competitive and rapidly evolving K-pop landscape.