The legal battle between Min Hee Jin and HYBE is intensifying as the case heads into its appeals phase.
On February 23rd, the Seoul Central District Court granted HYBE’s request to suspend enforcement of a lower court ruling that ordered the company to pay Min Hee Jin 25.5 billion KRW (approx. 17.7 million USD) in a stock sale payment dispute tied to a put option.
Min Hee Jin, the former ADOR CEO and current head of ooak records, had previously moved to seize HYBE’s assets, including bank accounts, in an effort to collect on the judgment. The court’s decision to grant HYBE’s request effectively blocks that seizure for now.
In cases involving monetary judgments, the losing party can request a stay of enforcement while the appeal is pending. With the court approving HYBE’s request, the company is expected to provide substantial collateral, such as a cash deposit, equal to the judgment amount. If HYBE fails to meet the court’s conditions, the suspension could be lifted.
The dispute stems from a shareholder agreement tied to Min Hee Jin’s put option. In the first trial, the court acknowledged that Min had explored ways to make ADOR independent from HYBE but ruled that this alone did not constitute a serious breach of the agreement, siding with her and ordering HYBE to pay.
With enforcement now paused, both sides will take their fight to the appellate court, where a final decision on HYBE’s obligation to pay will be determined.
Meanwhile, Min Hee Jin is set to address the situation publicly. ooak records announced that she will hold a press conference on February 25th to discuss the first trial’s outcome and her plans moving forward.
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