In the midst of the ongoing drama between HYBE and ADOR, a new development has emerged. ADOR CEO Min Hee Jin has spoken out to address the rumors surrounding NewJeans’ contracts.
With tensions running high between HYBE and its subsidiary ADOR, many fans are eagerly awaiting the resolution to the intense power struggle.
In an official statement released by ADOR, CEO Min Hee Jin denied rumors regarding the ‘demand for artists’ right to terminate contracts.’
On February 16, CEO Min submitted a proposed amendment to the Shareholder Agreement to HYBE through Sejong Law Firm.
The proposed amendment requested an increase in the CEO’s power concerning contracts, permitting the CEO to independently end the artist’s exclusive contract.
If the terms are approved, CEO Min would have the authority to terminate the artist’s contract early without needing approval from the board of directors.
HYBE reportedly turned down this proposal. It was believed that with the contract amendment, there would be virtually no way to stop the artist from leaving.
On May 2, ADOR shared their stance in an official statement, stating, “It was a request to address unreasonable interference.”
The agency confirmed proposing a contract amendment to HYBE, “At a face-to-face meeting with CEO Park Ji-won on January 25, we requested that the signing of important contracts, including exclusive contracts, be done under the authority of the CEO.”
ADOR clarified that the request was not to establish an independent label. It was requested to address the unjustified interference that took place during NewJeans’ debut.
Moreover, the label refuted allegations made against them by HYBE. Lastly, it called claims of ‘takeover attempt’ made by HYBE ‘imaginary.’
