South Korean multinational entertainment company HYBE Corporation recently shared an interim report about the audit of girl group NewJean’s management agency ADOR. After learning that ADOR was making efforts to become independent, HYBE reportedly started an examination of ADOR management on April 22, claims certain reports. After that, ADOR retaliated by accusing the former of copying NewJeans’ concept. Serious accusations have been made against ADOR CEO Min Hee-jin as a result of the interim report, which officially implicates her.
On April 25, HYBE Corporation issued a press release indicating that the organisation will press charges against ADOR for “breach of trust”, reports Soompi. It read, “According to the audit results, HYBE confirmed and secured concrete evidence that a plan to usurp management control was established under the direction of ADOR’s CEO. One of the auditees submitted digital evidence containing information about the plan to seize management control and contact outside investors and admitted that they had written documents to attack HYBE during the investigation.”
“According to face-to-face investigations and the conversation record from the submitted digital evidence, the CEO of ADOR instructed the management team to devise ways to pressure HYBE to sell the ADOR shares it holds. In response to this directive, specific discussions took place on ways to prematurely terminate exclusive contracts with artists and invalidate contracts between the CEO of ADOR and HYBE. Conversations such as, “pull in global funds and make a deal with HYBE,” “critically counterattack everything HYBE does,” and, “think of ways to torment HYBE” also ensued, continued the statement.
“The conversation record also contained execution plans such as “preparing for a battle of public opinion in May” and “making ADOR an empty shell and taking it away,” the statement added.
Park Ji-won, the CEO of HYBE Corporation issued an apology in the same statement highlighting the concerns of artists, fans and other members of the label. Calling them “valuable assets to the organisation, the CEO added that the company would be maximising their efforts for “emotional stability” and “psychological counselling”.
HYBE Labels have been employed by Big Hit Music, Source Music, Pledis Entertainment, Belift Lab, KOZ Entertainment and ADOR. Further updates on the matter are yet to be unfolded.
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