HYBE has released a bombshell audit report on ADOR, implicating CEO Min Hee Jin in formal accusations. The interim report, which details findings from the audit, has brought serious allegations against Min Hee Jin to light. The development occurred on April 25, 2024, when the music mogul announced its intentions to press charges against the CEO of its subsidiary and related entities for allegedly trying to take control of ADOR.
HYBE drops ADOR’s interim audit report
In the intense confrontation between BTS label and NewJeans' management company, HYBE initiated an audit of ADOR's management upon detecting efforts by ADOR to gain independence. In response, ADOR issued a statement accusing the former of copying NewJeans’ concept.
Also read: Jujutsu Kaisen Chapter 258: Release date, regional time zones, spoilers, what to expect
On April 25, HYBE made it clear that it intends to press formal charges alleging 'breach of trust.' In its press release about the audit, the company said, “According to the audit results, HYBE confirmed and secured concrete evidence that a plan to usurp management control was established under the direction of ADOR’s CEO.”
According to the press release, during the audit, digital evidence showed that ADOR was planning to take control of management, reach out to outside investors, and take legal action against HYBE. The CEO of ADOR told the management team to push HYBE to sell their shares, which led to discussions about terminating artist contracts and voiding agreements with HYBE, as well as plans to counterattack HYBE’s actions, prepare for a public perception battle, and potentially make ADOR go bankrupt to take over the company.
{{/usCountry}}According to the press release, during the audit, digital evidence showed that ADOR was planning to take control of management, reach out to outside investors, and take legal action against HYBE. The CEO of ADOR told the management team to push HYBE to sell their shares, which led to discussions about terminating artist contracts and voiding agreements with HYBE, as well as plans to counterattack HYBE’s actions, prepare for a public perception battle, and potentially make ADOR go bankrupt to take over the company.
{{/usCountry}}Also read: Top 5 Chinese dramas where sports meet romance: Netflix’s new obsession
HYBE CEO Park Ji Won said,“I am apologetic for causing concerns to fans, artists, and personnel [of the labels] for what happened in the process of upgrading the multi-label [system]. Adding further he said, “Now that the incident has come to a conclusion, we will maximize our efforts for the psychological counselling and emotional stability of the artists, who are valuable assets of K-pop.”
Min Hee Jin the ‘mother’ of NewJeans
Big Hit Music, Source Music, Pledis Entertainment, Belift Lab, KOZ Entertainment, and ADOR all operate under HYBE Labels. In an exclusive report, Dispatch detailed how Min Hee Jin became ‘the mother’ of NewJeans having taken over the charge in 2019. Initially overseeing a new girl group at Source Music, Min Hee Jin desired to lead her own agency, and this gave birth to ADOR.
As per the report, NewJeans was earlier training within SOURCE music (another HYBE subsidiary). Min Hee Jin then transitioned trainees from Source Music to her agency, including the current members of NewJeans (Minji, Hanni, Haerin, Danielle, Hyein).
Get more updates from Bollywood, Taylor Swift, Hollywood, Music and Web Series along with Latest Entertainment News at Hindustan Times.
Get more updates from Bollywood, Taylor Swift, Hollywood, Music and Web Series along with Latest Entertainment News at Hindustan Times.