Min Hee Jin held a press conference on the afternoon of February 25th at a location in Seoul.
The Seoul Central District Court ruled in favor of Min Hee Jin in the lawsuit filed by HYBE to terminate the shareholder contract on February 12th and the seizure and collection order filed against HYBE for the payment of stock sale proceeds. The court ordered HYBE to pay Min Hee Jin 25.5 billion won ($17.8 million).
CEO Min Hee Jin stated, “I am here to announce that I have decided to exchange the 25.6 billion won for other values. For most people, 25.6 billion won is a sum that is difficult to come by without dedicating their daily lives. It is also precious capital for me as I embark on a new beginning. However, because I value something more than a large sum of money, I have decided to hold this press conference to make a meaningful proposal to HYBE.”
She continued, “The most urgent reason for making this decision is for the members of NewJeans. In exchange for relinquishing the 25.6 billion won, I propose to halt all ongoing civil and criminal lawsuits and cease all disputes. This proposal includes not only myself but also an end to all lawsuits and complaints against NewJeans members, external partners, former ADOR employees, and even the fandom. Only when everything concludes can we prevent further indiscriminate noise from affecting the artists, their families and the fandom.”
>> HYBE Blocks Min Hee Jin’s Seizure Attempt as Appeals Battle Begins
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