Courtesy of Min Hee Jin's instagram
Ador, a sublabel under the umbrella of K-pop conglomerate HYBE, is set to hold a pivotal board meeting on Friday, representing a crucial juncture in the ongoing conflict between the sublabel's CEO and HYBE management.
Scheduled for 9 a.m. in downtown Seoul, the meeting is anticipated to address the possibility of convening an extraordinary shareholders' meeting, as reported by sources within the music industry.
Min Hee-jin, CEO of Ador, disclosed plans for the board meeting following a court hearing, revealing intentions to convene both the board meeting and an extraordinary shareholders' meeting by the end of May, a timeline which diverges from HYBE's proposed schedule.
Details regarding the agenda for the shareholders' meeting and its precise timing and location remain undisclosed.
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| ▲ Courtesy of Min Hee Jin's instagram |
The conflict between the two entities stems from allegations that Ador's current management, including Min Hee-jin, sought to separate from HYBE and take the girl group NewJeans with them. HYBE, holding an 80 percent stake in Ador, initiated an audit against Min and subsequently filed a complaint against her.
Amidst the escalating tension, attention is drawn to the imminent return of NewJeans with a new single on May 24, raising speculation on potential implications if Min's position is altered during the shareholders' meeting.
Additionally, Seoul Metropolitan Police Agency Commissioner Cho Ji-ho announced swift investigation into allegations of breach of duty filed by HYBE against Min, emphasizing the public interest in the case. However, no individuals have been questioned in connection with the investigation thus far.
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