HYBE found evidence of an attempt to seize control of ADOR: action plan point by point

Company HYBEwho owns the agency ADORin which the group debuted NewJeanson April 25 announced the interim results of an audit on the issue of a possible attempt to seize power in ADOR.

See also: HYBE shares crash amid controversy with Min Hee Jin

During the audit it was found that Min Hee Jin – CEO ADOR – really developed a plan to seize power. Evidence was obtained to support this plan.

One of the audit participants provided as evidence information assets containing information about the plan to seize power, contacts with external investors, and also admitted to creating documents aimed at the attack HYBE.

Details of the power takeover plan:

• Pressure on HYBE to sell its stake in ADOR. ADOR’s CEO directed company management to develop a plan to pressure HYBE to sell its stake in ADOR.
• Termination of contracts with artists. Specific methods for terminating exclusive contracts with artists were discussed, as well as ways to void contracts between ADOR’s CEO and HYBE.
• Attracting foreign investment. Phrases such as “Let’s raise global funds and make a deal with HYBE”, “Critically evaluate all actions of HYBE”, “Come up with ways to cause inconvenience to HYBE” were heard.
• Action plan. The recordings of the conversations also mentioned action plans such as “Preparation of the information war in May”, “Turning ADOR into an empty shell and exiting it.”
• “We will eventually leave HYBE.” HYBE also received an admission from one of the audit participants that the phrase “’We will eventually leave HYBE’” was recorded from the words of ADOR’s CEO.

HYBE intends to:

• File a police report. On April 25, HYBE filed police reports against everyone involved in the attempted takeover, accusing them of abuse of power.
• Provide support to NewJeans members. HYBE stated that it will provide all necessary support to the NewJeans members to help them cope with the psychological and emotional consequences of this situation, and will also work towards their successful return to the stage.
• Meet with the participants’ lawyers. HYBE also plans to meet with the participants’ lawyers as soon as possible to discuss measures to protect them.

CEO’s Statement Park Ji Won’s HYBE: “We deeply regret that these events occurred during the development of the HYBE multi-label system. We apologize to fans, artists and all members of the HYBE family for any inconvenience this may cause. Now that the incident is over, we will make every effort to provide psychological recovery and emotional stabilization to the artists who are valuable assets of K-Pop.”

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