Channel A reported exclusively on April 24th that documents have been discovered detailing ADOR CEO Min Hee Jin’s alleged attempt to seize control of the agency, home to the K-pop girl group NewJeans.
The report stated that HYBE discovered a document titled “Project 1945” during the audit. The document outlines a detailed plan divided into subheadings such as filing charges, taking legal action, and initiating public opinion warfare. 1945, the year of Korea’s liberation, is seen as a symbolic representation of Min’s desire for independence.
The document was reportedly obtained from the email of ADOR’s vice president. HYBE stated that Min hasn’t returned her laptop.
HYBE also reported that the audit confirmed a management takeover plan established under the leadership of ADOR’s CEO and gathered evidence. An employee associated with HYBE and ADOR submitted information about the plan and contact with external investors as evidence, admitting to writing documents to attack HYBE.
According to face-to-face investigations and conversation transcripts in the submitted evidence, the CEO of Company ADOR instructed the management team to pressure HYBE to sell its stake in ADOR.
Specific ways to terminate exclusive contracts with artists and invalidate contracts between the CEO and HYBE were discussed. There were also conversations such as “bringing in global funds and negotiating with HYBE,” “exploring ways to leverage against HYBE” and “finding ways to harass HYBE.”
The dialogue included execution plans such as “preparing a public opinion warfare in May” and “taking ADOR out as an empty shell.” HYBE also obtained a statement from the audit target that “the wording ‘ultimately getting out of HYBE ‘ was written based on what the CEO of ADOR said.”
Based on this information, HYBE plans to take legal action against the involved parties for breach of trust and other misdeeds tomorrow.
Earlier in the day, CEO Min’s side submitted an audit response requested by HYBE. HYBE’s side said, “The response has arrived, but the content cannot be disclosed due to the threat of strong legal action if it’s revealed,” and refrained from commenting.
