Today's hearing addresses the shareholder agreement cancellation and lawsuits related to the put option.
Her statements in court may negatively affect her public image.
Former ADOR CEO Min Hee-jin returns to court today to address the '26 billion won put option' lawsuit. The Seoul Central District Court's Civil Division 31 will hold a hearing on the shareholder agreement cancellation lawsuit filed by HYBE against Min, and the stock sale price claim lawsuit related to the put option that she filed against HYBE. During the hearing, the court is expected to conduct the third examination of Min.
On the last hearing held on November 27, Min defended her position for around six hours, denying allegations of New Jeans tampering, document preparation among former ADOR executives, and attempted corporate takeover. She claimed to have persevered thanks to New Jeans, but received criticism for frequently responding with “I don’t know” or “I can’t recall” to many questions.
This session is being held upon the request of Min’s side for additional time. The lawsuit regarding the put option worth 26 billion won has emerged as a central issue in the shareholder agreement case, as the cancellation of the shareholder agreement would affect the validity of the put option.
Min Hee-jin's appearance in court signifies more than just a legal procedure; it sheds light on her management philosophy and the complex situations following the acquisition of her company. As the former leader of ADOR, known for innovative teams like New Jeans, Min appears to have aimed to protect the value of their success. However, the allegations against her are casting a shadow over her image, regardless of court statements or outcomes.
Her frequent replies of “I don’t know” during court proceedings can be seen as a point of criticism, potentially leading to misunderstandings that she is attempting to conceal the truth. Thus, beyond legal responses, Min needs a strategy that considers public perception. In an era where transparency and trustworthiness in businesses are highly demanded, managing one’s image is more important than ever.
The concurrent hearings of both cases are crucial, especially considering that if the shareholder agreement is invalidated, the put option would also become null. This could ultimately cause significant changes in the relationship and stock value between Min and HYBE. In conclusion, this case may influence discussions regarding the legal framework and corporate governance in the Korean entertainment industry.
This article is KOSTAR’s reinterpretation of a story originally reported by TVDaily.
Photo: Song Sun-mi
