CEO Min held an urgent press conference at the Korea Conference Center in Gangnam-gu, Seoul at 3 PM on April 25th.
CEO Min mentioned, “I never tried or thought of attempting to seize control. Since this happened to me, NewJeans members called me at night and cried, saying they felt sorry for me. People say I sold the kids. NewJeans members’ parents told me to tell them everything if I felt wronged. If I wanted money, I wouldn’t have filed an internal complaint.“
She shed tears, saying, “I could earn 100 billion won even if I just sit still. But I can’t bear unfairness. I’m going through this pain.”
CEO Min emphasized, “I did everything I could. Anyone who worked with me knows. Did I ever think of seizing control? I signed a strange contract with HYBE.” Her lawyer added, “It’s a contract between shareholders, and we were preparing for a re-contract due to some unreasonable points. HYBE may have to agree.“
Furthermore, CEO Min revealed, “There’s a clause preventing me from selling. I have an 18% stake, but there are restrictions when exercising it. I’m like a slave forever bound to HYBE.”
Earlier, HYBE announced the audit results alleging that CEO Min and ADOR’s management attempted to seize control. According to HYBE, concrete evidence was obtained confirming the plan to seize control led by ADOR’s CEO.
Regarding this time’s situation, CEO Min publicly criticized ILLIT, a group produced by Chairman Bang Si-hyuk under another label Belift Lab, for copying NewJeans. She also claimed that when she raised issues, HYBE tried to dismiss her.
On the same day the issue emerged, CEO Min released a statement stating, “HYBE’s Chairman Bang Si-hyuk produced ILLIT’s debut album. ‘ILLIT’s imitation of NewJeans’ was not solely done by Belift Lab, but also involved HYBE. Ironically, the cultural achievements of ADOR and NewJeans have been most seriously violated by HYBE.”
CEO Min strongly objected to the allegations of attempting to seize control, calling it “ridiculous media play”.
