"Now let's compete on the stage of K-pop and creation, not in court."
ooak Records CEO Min Hee-jin (former ADOR CEO) held a press conference on the 25th in Jongno-gu, Seoul, and made this proposal to HYBE Chair Bang Si-hyuk.
Min said she would not take the 25.5 billion won she stands to receive as a result of winning the first trial in the lawsuit to confirm the exercise of a put option and the termination of the shareholders' agreement with HYBE, and called for an end to the legal dispute now. She also demanded NewJeans return to ADOR.
Min said, "I have decided to exchange the 25.6 billion won I would receive for winning the first trial for another value," adding, "There is a value I desire far more desperately than the large sum of 25.6 billion won." She continued, "In exchange for letting go of the 25.6 billion won (to HYBE), I propose that we immediately stop all ongoing civil and criminal lawsuits and conclude all disputes," emphasizing, "Now let's compete on the stage of K-pop and creation, not in court."
Min said the proposal covers not only herself but also NewJeans members, outsourced partner companies, former ADOR employees, and the withdrawal of complaints and accusations related to the fandom. She said, "Let's also end the complaints and accusations against everyone who was dragged into this fight and hurt."
Min urged the restoration of the members' working environment. She said, "I can no longer watch a reality in which the five members, who should be happily on stage, have some standing on stage and others standing in court," adding, "Please create an environment where all five NewJeans members can come together and freely pursue their dreams."
Min also demanded that ADOR keep its promise. She said, "I hope the promise ADOR made in court—that 'we will treat NewJeans well if they return'—becomes reality," adding, "It is the role of adults to open the way for artists to shine again."
On the 12th, the 31st Civil Division of the Seoul Central District Court ruled partially in favor of the plaintiff in the first trial of the lawsuit Min filed against HYBE to confirm the exercise of a put option and the termination of the shareholders' agreement. The court ordered HYBE to pay Min 25.6 billion won. HYBE appealed the ruling.
Min founded the entertainment agency ooak Records in Oct. last year and is preparing to launch her first boy band. She said, "I will remove the label of 'former ADOR CEO' and walk a new path as the 'ooak Records CEO,'" adding, "I will pour all my energy into fostering new artists who will represent the K-pop industry and into business with a new direction."