Audit Reveals Plans for Takeover Amidst Growing Dispute Over Management Control

Courtesy of Ador

▲ Ador CEO Min Hee-jin / Courtesy of Ador

HYBE, parent company of Ador music label, announced Thursday its intention to file a complaint against Ador CEO Min Hee-jin for alleged breach of trust and related charges.

The decision follows an audit initiated on April 22 targeting Ador, which oversees popular K-pop group NewJeans.

During the interim audit report released today, HYBE disclosed evidence suggesting a planned takeover of management control orchestrated by CEO Min.

The evidence reportedly includes intercepted discussions indicating intentions to "strip Ador to its shell and take it away" and to "pull global funds to deal with HYBE."

According to HYBE, these discussions, held via messaging platforms, also included plans for the premature termination of NewJeans' contract.

The legal action signifies a significant escalation in the dispute between HYBE and its subsidiary's leadership, raising concerns about the future management of NewJeans amidst ongoing legal challenges.

Sayart 

Blue YIM, yimyoungseo1010@naver.com