HYBE does not promote NewJeans, Min Hee Jin asks for termination of contract

ADOR has issued a rebuttal on 9 issues denounced by HYBE: The "management takeover" plan is just imaginary, the corporation does not care about NewJeans - ignoring domestic chickens during the launch promotion.

According to a source, ADOR CEO Min Hee Jin requested the "right to terminate HYBE's exclusive contract with NewJeans" earlier this year. Notably, Min Hee Jin's request did not go through ADOR's board of directors. The law firm representing Min Hee Jin submitted an amendment to the shareholder agreement with this content to HYBE in February this year.

ADOR explained that the termination of NewJeans' contract with HYBE was "requiring the operation of an independent label."

If CEO Min's request is accepted, NewJeans will be able to terminate the exclusive contract only at Min Hee Jin's will without the involvement of ADOR or HYBE's board of directors. Under the current contract between shareholders, termination of the exclusive contract with the artist is supposed to require board approval, like other entertainment companies.

Under the current structure, upon discovering such a move, HYBE, which owns 80% of ADOR's shares, can convene an extraordinary general meeting of shareholders and replace ADOR's board of directors to prevent the artist's departure. However, if CEO Min has the right to terminate the exclusive contract, HYBE will have no way to stop its artist (NewJeans) from leaving.

ADOR also accused HYBE of being detrimental to NewJeans' comeback performance by breaking promises. In some exchanges, ADOR asked HYBE to refrain from statements related to the prosecution, to avoid distracting public opinion about NewJeans' promotion, the group did not dispute CEO Min Hee Jin's press conference.

However, HYBE made the argument only 1 day after the press conference - on the afternoon of April 26, making the plan to release concept photos and the b-side MV Bubble Gum for NewJeans sink into drama.

ADOR claimed that it was HYBE who prevented the promotion of NewJeans before the debut. Accordingly, the plan to "double" the group with 1 MV without any information being "paved" is a consequence of this problem. This point reinforces the argument Min Hee Jin made about HYBE "renegade", breaking his promise when letting LE SSERAFIM debut before NewJeans.

"HYBE made the excuse that: The two groups debuted one after another and did not have enough time to promote each other fully, so we decided to set a minimum promotion period for a certain period of time," but in reality there was no such agreement.

At that time, HYBE wanted to create confusion in the market that LE SSERAFIM could be Min Hee Jin's girl group, and therefore, HYBE CEO Park Ji Won frankly asked CEO Min Hee Jin over the phone and through SNS not to promote NewJeans." excerpt of ADOR's full notice.

In addition, ADOR also emphasized that HYBE is not interested in NewJeans. The group announced the audit on the eve of its comeback, "unconvincing dark propaganda" that affected the artist's performance.

Although HYBE constantly reassured the public by promising to facilitate NewJeans to promote as planned, the "tricks" aimed directly at Min Hee Jin and inside ADOR still caused the artist heavy losses.

Finally, ADOR stated, "Now and in the future, ADOR will make every effort to support NewJeans' activities. If HYBE wants to protect its intellectual property and genuinely cares about the interests of its shareholders, we hope they will stop unconvincing dark propaganda and show common sense in support of ADOR being able to focus exclusively on innovating."

Currently, NewJeans continues to gain traction despite the recent controversy involving HYBE and CEO Min Hee Jin. The latest MV of 5 girls is on track to surpass 20 million views.

NewJeans: nổi tiếng nhờ mang danh "em gái BTS", sắp thành kẻ phản bội HYBE? Phong Trần13:29:37 25/04/2024NewJeans nổi tiếng nhanh chóng với định hướng mới mẻ, độc lập của CEO Min Hee Jin và có được vị thế như hiện tại nhờ đứng trên vai người khổng lồ HYBE, mang danh em gái BTS .