Min Hee-jin, CEO of girl group NewJeans’ agency ADOR, is seen in this undated file photo provided by the company. (Image courtesy of Yonhap)
SEOUL, Apr. 24 (Korea Bizwire) — The author of a document allegedly suggesting the management of K-pop giant Hybe’s subsidiary label ADOR attempted to seize control of the company has denied the allegations.
“What is known as ‘an ADOR internal document’ by the media is about my personal reflections,” ADOR’s unidentified deputy CEO and aide to CEO Min Hee-jin told Yonhap News Agency on Tuesday. “It stems from my concerns over the unsolved long-standing conflicts between Hybe and ADOR.”
“This document was written based on my personal thoughts and experiences and has not been discussed with Min and other ADOR executives,” he stressed.
On Monday, Hybe launched an audit targeting the two executives of the music label behind NewJeans following allegations they plotted to have the subsidiary secede from the parent company.
The company, during the audit, discovered the business log authored by the deputy CEO last month. The document included plots on how to induce the parent company to sell its stakes in ADOR and persuade outside investors to buy them, according to industry sources. The document has been seen as evidence supporting Hybe’s claim about the alleged spinoff attempt.
Founded by Min, a former creative director of SM Entertainment, in 2021, ADOR is currently owned 80 percent by Hybe and 20 percent by its management, including Min. She now holds an 18 percent stake in ADOR, making her the second-largest shareholder after Hybe.
Girl group NewJeans, which debuted in 2022 under Min’s ADOR, has achieved international stardom, releasing successive megahits, such as “Hype Boy,” “Attention,” “Ditto” and “OMG.”
“I deeply regret that mere personal reflections, which are no more than a ‘memo’ level of writing that has never been implemented, have been leaked to Hybe and portrayed in various news articles as if they were an internal document for a grand conspiracy, just because they were stored on a company laptop,” the official added.
(Yonhap)
