The ongoing conflict between HYBE and CEO Min Hee-jin continues to escalate. Amid the feud, reports claims that Min Hee-jin will be losing crores if HYBE is able to prove the embezzlement charges pressed against her.
For the unversed, HYBE holds 80 percent stake in ADOR, while Min Hee-jin has 18 percent stake. However, the ADOR CEO's 18 percent stake is currently valued at a whopping $80 million. However, if HYBE’s is able to prove Min Hee-jin guilty of embezzlement, the price of the shares will go down dramatically and the ADOR CEO will essentially have to leave her position and the label empty-handed. As per the report, Min Hee-jin had borrowed about $16 million from HYBE's chairman Bang Si-hyuk to purchase the 18 percent shares in ADOR. After repaying it, the former creative director will reportedly be bankrupt.
Following the audit by HYBE, Min Hee-jin accused HYBE's newest girl group, ILLIT, of copying NewJeans. As the feud continued, the ADOR CEO held a press conference on April 25 in which she revealed shocking chats with HYBE chairman Bang Si-hyuk, clarified accusations about a shaman being involved in her label-related decisions and commented on NewJeans' uncertain future.
2024-05-01T14:38:44Z dg43tfdfdgfd