Min Hee-jin, former CEO of Ador (currently CEO of OK Records), has taken a drastic step by proposing to give up 25.5 billion won to end the long battle with HYBE. This is a bold proposal that prioritizes the protection of NewJeans and those around them over personal gain.
On the 25th, Min held an emergency press conference in Seoul and officially proposed to HYBE to drop all ongoing civil and criminal lawsuits in exchange for giving up the approximately 25.5 billion won profit that could be obtained through exercising the put option. He stated, "I hope HYBE will stop the exhausting fight and make a forward-looking decision."
The key point of this proposal is the emphasis on 'resolution' over 'money'. Even if it means giving up a large sum of money that could be secured in a victory, Min believes that concluding the tedious legal battle with HYBE is more valuable. This reflects a willingness to prioritize the swift resolution of the situation over personal financial interests.
Notably, the scope of the parties included as conditions for resolving the disputes is extensive. Min requested that not only herself but also the members of NewJeans, former employees of Ador, partners, and even the accused fandom be exempt from legal responsibility. This is based on the judgment that all various lawsuits and accusations currently entangled must be collectively withdrawn to eliminate indiscriminate noise and allow the artist to fully focus on their main work.
Min emphasized, "Please recognize the sincerity of this arrangement, even at the cost of giving up a large sum of money." With the entertainment industry’s attention focused on this matter, it remains to be seen how HYBE will respond to the significant put option right of 25.5 billion won.
