Despite Min Hee-jin, the former CEO of ADOR, offering to forgo her ₩25.6 billion put option in exchange for halting all lawsuits, it appears that HYBE is unlikely to accept this proposal.
According to sources confirmed by Star News, HYBE applied for the cancellation of the compulsory execution related to the claim for stock trading proceeds against former CEO Min Hee-jin and others through the Seoul High Court on the 10th.
Previously, HYBE had already applied for a stay of execution along with an appeal against the first trial judgment regarding the stock trading proceeds, following the application for seizure and collection order of former CEO Min Hee-jin’s bond (deposit account). The court accepted the stay of execution, thus halting the compulsory execution.
Typically, in civil lawsuits, the losing party can apply for a stay of execution to prevent provisional execution of the judgment. The court usually grants this request, provided that the applicant provides security, such as depositing a certain amount of cash or submitting a surety insurance certificate.
Notably, the cancellation of compulsory execution, unlike the temporary halt provided by a stay of execution, definitively excludes part or all of the execution measures in the execution process. This highlights HYBE’s perspective on the ongoing lawsuit.
Earlier, on February 12th, the Civil Agreement Department 31 (Chief Judge Nam In-soo) of the Seoul Central District Court held a hearing for the judgment on the lawsuit filed by HYBE against former CEO Min Hee-jin to confirm the termination of the shareholders’ agreement, and the lawsuit filed by former CEO Min Hee-jin against HYBE for the claim for stock trading proceeds related to the exercise of the put option. The court ruled in favor of Min Hee-jin, stating, “HYBE’s claim is dismissed, and HYBE shall bear the costs of the lawsuit. Furthermore, Min Hee-jin’s exercise of the put option is legitimate, and HYBE shall pay approximately ₩25.5 billion.”
Subsequently, on February 25th, former CEO Min Hee-jin held a press conference at the Kyowon Challenge Hall in Jongno-gu, Seoul, regarding the results of her victory in the first trial of the lawsuit for the claim for stock trading proceeds related to the exercise of the ₩25.5 billion put option and the confirmation of the termination of the shareholders’ agreement with HYBE. She stated, “I am here to announce that I have decided to exchange the ₩25.6 billion I will gain from the victory for other values. The most pressing reason for making this decision is for the NewJeans members.”
She continued, “Instead of taking the ₩25.6 billion, I propose that all ongoing civil and criminal lawsuits be immediately stopped, and all disputes be resolved. This proposal includes not only myself but also the NewJeans members, external partner companies, all former ADOR employees, and the termination of all lawsuits and accusations against the fandom that has been hurt in this fight.”
Furthermore, she emphasized, “I hope this decision to exchange such a large sum of ₩25.6 billion for other values will be elevated into the overall development and harmony of the K-pop industry. The place where I and HYBE should be is not the courtroom but the stage of creation. I propose that we adults return to our original selves, competing with our skills on music and stage, not in the courtroom. The longer this dispute continues, the more the artists, who are the protagonists of this industry, will suffer together.”
Former CEO Min Hee-jin proposed to HYBE and Chairman Bang Si-hyuk, “Now, let’s meet in the place of creation, not the courtroom. In an era where corporate responsibility has become more stringent, such as the amendment to the Commercial Act in July 2025, choosing to resolve the risks of the entertainment industry and achieve harmony will be the most sensible management decision for shareholders and fans.”
However, HYBE deposited ₩29.25 billion with the Seoul Central District Court as a judicial guarantee deposit to prevent provisional execution of the first trial judgment.
