HYBE Takes Action Against Min Hee Jin’s Alleged Coup Attempt

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HYBE has demanded the resignation of Min Hee Jin, the representative of ADOR.

HYBE recently launched an audit of ADOR, its subsidiary label, following suspicions that ADOR might be trying to become independent.

Upon confirming Min’s attempt to seize control, HYBE immediately responded by calling a general shareholders meeting of ADOR and exercising its audit rights.

Those under audit include Min Hee Jin and ADOR’s financial advisor.

It has been reported that they have been discussing measures to attract investors, including leaking confidential contracts and devising plans to induce HYBE to sell its shares in ADOR. These discussions were reportedly discovered during an internal audit conducted by HYBE.

HYBE

Aside from Representative Min, the two internal directors of ADOR are all close confidants who have been with Min since their days at SM Entertainment. HYBE believes that ADOR’s financial advisor has been using his position to pass on significant internal information from HYBE to ADOR. As a former certified public accountant, I handled investor relations in HYBE’s finance department and performed tasks like the company’s public listing before moving to ADOR earlier this year.

Additionally, he is suspected of passing confidential documents and trade secrets necessary for ADOR’s independence to ADOR even when he was working at HYBE. He is known within ADOR as Min’s “right-hand man.”

Instagram@min.hee.jin

Min, who joined SM Entertainment as a public service employee in 2002, rose to the position of creative director and tenured director before leaving SM.

She joined HYBE in 2019 and worked as the Chief Brand Officer (CBO) before becoming the head of ADOR, a label established by HYBE, in November 2021.

The girl group NewJeans, fostered by ADOR’s Representative Min, became a global pop star with consecutive hits like “Hype Boy,” “Attention,” and “Ditto,” earning Min the loving title of “NewJeans’ Mom.” HYBE currently owns 80% of ADOR’s shares, with the remaining 20% held by Min and other ADOR management team members.