Former ADOR chief Min Hee-jin won the first-instance trial concerning termination of the shareholders' agreement and the put option with HYBE, and HYBE said it would "review and proceed with legal steps."
Today (the 12th) at 10 a.m., the Seoul Central District Court Civil Division 31 (Nam In-su Director General) dismissed HYBE's suit seeking confirmation of termination of the shareholders' agreement against former chief Min Hee-jin and HYBE's claim in the suit filed by Min against HYBE for payment of purchase price of shares.
The court said, "It is recognized that former chief Min Hee-jin sought ways for ADOR's independence," but added, "this appears to be a plan assuming HYBE's consent," and ordered HYBE to pay an amount equivalent to 25.5 billion won to former chief Min.
Regarding this, HYBE issued an official statement this afternoon saying, "We regret that our claims were not sufficiently accepted. We will review the judgment and proceed with future legal steps such as an appeal."
Earlier, former chief Min Hee-jin resigned from her inside-director position at ADOR in November 2024 and notified HYBE of the exercise of the put option under the shareholders' agreement.
Below is HYBE's full official statement.
This is HYBE.
Below is our position regarding today's judgment on the suit for confirmation of termination of the shareholders' agreement.
We regret that our claims were not sufficiently accepted. We will review the judgment and proceed with future legal steps such as an appeal.
[Photo] OSEN database.
[OSEN]