Min Hee-jin alleged to have met with a Japanese investor amidst NewJeans' ongoing contract feud with ADOR

On Thursday, September 11, former ADOR CEO Min Hee-jin appeared for the trial of the lawsuit filed by her and two other people against HYBE Labels for their stock trading proceedings related to Min Hee-jin's exercise of a put option. At the trial, HYBE's CLO Jeong Jin-soo also put forth a few testimonies about the former ADOR CEO.

According to Xports News, the CLO had received a tip about Min Hee-jin allegedly meeting with people from Japan to get in touch with Japanese investors between the end of 2024 and the beginning of this year. Furthermore, he testified that in January 2025, she was allegedly able to meet these Japanese investors in Korea through a meeting in the conference room of a famous investment firm.

While it's accepted for CEOs to meet with investors for several reasons, the HYBE CLO pointed out that Min Hee-jin and the former Vice President of ADOR kept this information hidden from HYBE, the label's parent company. Therefore, the HYBE CLO speculated that these actions might've budded from harmful and negative intentions. Here's what he stated:

"It's normal for the CEO and vice-president of a company to meet with investors, and no company would take issue with this, right? Isn't it strange for the CEO of an unlisted subsidiary to meet an investor without the major shareholder's knowledge?"

The HYBE CLO continued,

"If it were another label, they would have said, 'I have this kind of intention to meet with the investor. I will meet with you, listen to your thoughts, and then convey them to you.' But if you look at the KakaoTalk messages (between former CEO Min and the former vice-president of ADOR), they hid it from HYBE and talked between the two of them. Their intentions are a bit different."

All you need to know about Min Hee-jin's put option lawsuit against HYBE Labels

On September 11, the final trial involving former ADOR CEO Min Hee-jin and HYBE Labels on the topic of the CEO's right to exercise a put option was held by the Seoul Central District Court Civil Division 31. The same trial also aimed towards the termination of Min Hee-jin's shareholders' agreement with HYBE.

During the trial, Hee-jin explained that she notified HYBE Labels about her exercise of the put option in November 2024. For those unversed, a put option is a scenario where Hee-jin will be receiving around 75% of ADOR's stake, which is thirteen times the average profit of ADOR between the years 2022 and 2023.

This calculation would lead to the former ADOR CEO receiving around 26 million Korean won. However, HYBE refuted the request and explained that her exercise of the put option had expired due to her contract termination with the company in July 2024. Since she notified HYBE about her rights four months after her termination, it doesn't stand valid.

Min Hee-jin, on the other hand, pushed further that since the lawsuit for her contract termination is ongoing, she can still rightfully claim the amount of 26 billion KRW. However, a verdict on this by the court has not yet been revealed.

About the author

Aishwarya is a pop culture writer who covers K-drama and K-pop at Sportskeeda. After completing her Bachelor's in English and Communication Skills, she sought a job that allowed her to explore her passion, and being a K-pop and K-drama reporter felt like the ideal fit. Aishwarya has 3 years of experience under her belt and previously took on several internships in the industry that further motivated her in choosing writing as a career.

Aishwarya believes in conducting extensive research and verifying facts with the help of reputable sources to produce accurate articles. She also spends a significant amount of time on Twitter to understand how netizens are reacting to the latest trends in the industry before crafting her content.

She admires SUGA from BTS for his dedication to his work and aspires to immerse herself into the things she loves, just like him. If she could go back in time, she would jump at the opportunity to be part of ""Reply 1988,"" a K-drama set in a time when neighborhood relationships were cherished and interpersonal connections were of utmost importance. Although she loves how technology has advanced, she would also love to experience living in an era before it was invented.

When Aishwarya's not writing and reading about the latest developments in the industry, she spends her time crocheting, sketching, cycling, reading Mangas, and cooking.

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Edited by Aishwarya Sai