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HYBE has launched a blistering audit report on ADOR, laying formal expenses in opposition to CEO Min Hee Jin. The interim report, which particulars the audit's findings, has dropped at mild critical allegations in opposition to Min Hee Jin. The event occurred on April 25, 2024, when the music mogul introduced his intention to file expenses in opposition to the CEO of his subsidiary and associated entities for allegedly making an attempt to take management of ADOR.
HYBE eliminated ADOR's interim audit report
Within the intense confrontation between the BTS label and NewJeans administration firm, HYBE initiated an audit of ADOR's administration after discovering ADOR's efforts to realize independence. In response, ADOR issued a press release accusing ADOR of copying NewJeans' idea.
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On April 25, HYBE made it clear that it meant to file formal expenses, alleging 'breach of belief'. In its press launch concerning the audit, the corporate stated, “In response to the audit outcomes, HYBE confirmed and obtained concrete proof {that a} plan to usurp administration management was established beneath the route of ADOR's CEO.”
In response to the press launch, through the audit, digital proof revealed that ADOR was planning to take management of administration, attain out to exterior traders, and take authorized motion in opposition to HYBE. ADOR's CEO requested the administration staff to induce HYBE to promote its shares, which led to discussions about terminating artists' contracts and canceling agreements with HYBE, in addition to retaliating to HYBE's actions, publicly Plans have been made to organize for the battle of notion and doubtlessly create ADOR. Go bankrupt to take over the corporate.
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HYBE CEO Park Ji Gained stated, “I apologize for inflicting concern to followers, artists and personnel [of the labels] What occurred within the means of upgrading multi-label [system], He additional added, “Now that the occasion has come to a conclusion, we’ll maximize our efforts for the psychological counseling and emotional stability of the artists, who’re worthwhile belongings of Ok-pop.”
Min Hee Jin is the 'mom' of Newjins
Large Hit Music, Supply Music, Pledis Leisure, Belift Lab, Koz Leisure and ADOR all function beneath the HYBE label. In an unique report, Dispatch detailed how Min Hee Jin turned Newjin's 'mom' after taking up in 2019. Initially overseeing a brand new woman group at Supply Music, Min Hee Jin desired to guide her personal company, and this gave delivery to Adore.
In response to the report, NewJeans was beforehand educated beneath SOURCE Music (one other HYBE subsidiary). Min Hee Jin then transferred the trainees from Supply Music to her personal company, together with Newjin's present members (Minji, Hany, Hyein, Danielle, Hyein).
