Court rules Min Hee-jin’s raising of plagiarism concerns about ILLIT was justified in her put option lawsuit against HYBE.
The 31st Civil Division of the Seoul Central District Court (Chief Judge Nam In-soo) held the sentencing date on the lawsuit filed by HYBE against former ADOR CEO Min Hee-jin to confirm the termination of the shareholder agreement, and the lawsuit filed by Min Hee-jin against HYBE for the stock purchase price related to the exercise of her put option. The court ruled in favor of Min Hee-jin.
The court drew attention by ruling that Min Hee-jin’s raising of suspicions of ILLIT plagiarism and album pushing was justified.
Regarding the ILLIT plagiarism issue, the court stated, “According to the report, the achievements of ILLIT immediately after their debut are judged to be similar to those of NewJeans. The parents of NewJeans also submitted a petition regarding this, and their claims are opinions on the similarity, and the part of the factual premise being a mistake cannot be acknowledged. BELIFT LAB has not presented more evidence in response to their rebuttal that ‘it is not similar,’ and it is difficult to say that this controversy has completely subsided.”
The court continued, “Raising the issue of NewJeans being copied by ILLIT is difficult to see as a serious breach of obligation. Min Hee-jin’s raising of copy suspicions is seen as an expression of opinion rather than stating facts, and it does not constitute the dissemination of false information. As the CEO of ADOR at the time, Min Hee-jin’s raising of the issue of similarity with ILLIT to protect the value of NewJeans is within the scope of her management judgment to protect the interests of ADOR.”
In November 2024, Min Hee-jin announced her resignation from the position of ADOR’s inside director and immediately notified her intention to exercise a put option (the right to buy or sell shares at a fixed price at a certain time) worth approximately 26 billion KRW and filed a lawsuit to claim the corresponding payment. The lawsuit is valued at approximately 28.7 billion KRW.
The put option is one of the core elements of the shareholder agreement that Min Hee-jin signed with HYBE. According to the agreement, when the put option is exercised, HYBE can receive an amount equal to 75% of the value obtained by multiplying ADOR’s average operating profit for the previous two years by 13. According to ADOR’s audit report released in April 2024, Min Hee-jin holds 573,160 shares of ADOR (18%). Based on this calculation, it is known that Min Hee-jin can receive about 26 billion KRW. However, HYBE announced in July 2024 that it had notified Min Hee-jin of the termination of the shareholder agreement, which is the basis for the put option, citing damage to trust.
In a statement released at the time, Min Hee-jin said, “We intend to terminate the shareholder agreement signed with HYBE and hold HYBE legally responsible for violations of the shareholder agreement.” “We will proceed with the necessary legal measures one by one against the numerous illegal acts of HYBE and its related parties.” She continued, “Even in the midst of the hellish dispute with HYBE that has lasted for over seven months, starting with HYBE’s illegal audit, I have done everything I can to protect the shareholder agreement and return ADOR to its original state as before the (illegal audit). However, HYBE still does not admit its mistakes and shows no signs of changing, so I have decided that further efforts are a waste of time.”
Min Hee-jin added, “HYBE’s atrocities in 2024 will be recorded as an unprecedented case in the history of K-pop.” “The actions of one person’s malice should not damage the ‘essence of the business.’ It was really bad.”
In response, HYBE argued in July 2024 that it had terminated the shareholder agreement and that Min Hee-jin’s put option rights had also expired.
Min Hee-jin drew attention when she appeared at court in September 2025 in a large taxi for her personal questioning. Min Hee-jin smiled without giving any specific answers to the reporters’ questions and entered the courtroom, while HYBE’s CLO (Chief Legal Officer) Jung Jin-soo appeared as a witness. This was the first time the two sides had met directly since HYBE began auditing Min Hee-jin in April 2024.
Jung Jin-soo, who appeared as a witness, mentioned that Min Hee-jin had asked to raise the put option multiple from 13 to 30, that he had received a tip that she was planning for independence, and that the ADOR audit revealed various documents that Min Hee-jin’s side was writing at the time, revealing Min Hee-jin’s suspicious activities. He also claimed that Min Hee-jin met with Japanese investors and received advice regarding the shareholder agreement, although he did not reveal his identity.
In response, Min Hee-jin’s side retorted that it was not unusual for the CEO of a company to meet with investors, but Jung Jin-soo reported that Min Hee-jin had hidden her meetings with investors and said, “The intention is a little different.” Furthermore, when Min Hee-jin directly claimed that Jung Jin-soo had hinted at the possibility of changing some of the provisions of the shareholder agreement, such as the non-compete clause, Jung Jin-soo countered by saying “perjury.”
