Min Hee-jin, the CEO of Ador, and Vice President Lee, referred to as her right-hand, have been revealed to be at the center of a dispute over control with HYBE, as TVDaily has obtained the text messages exchanged between key Ador executives. The texts shed light on a complex strategy aimed at gaining independence from HYBE by leveraging public and media pressure, centered around the timing of BTS members completing their military service.
On February this year, VP Lee outlined Ador's year-long plan to Min, focusing on "making things tough for HYBE, so Ador can be free," pinpointing the structural inefficiencies within HYBE’s multi-label and IT businesses. The discussion evolved into utilizing media to create favorable public opinion, a tactic Min was reluctant to use yet saw as necessary.
By March, the plans moved towards execution. Despite previous denials about engaging with investors, Min was actively meeting with potential investors interested in NewJeans, a group represented by Ador, under the condition that all members be separated from HYBE. This led to calculated risks, including potential legal repercussions.
Amid these developments, Min Hee-jin publicly criticized HYBE's media manipulation tactics, while internally discussing with Lee and Ador executives the need to use similar strategies. They even listed specific journalists who could be approached for this purpose.
On March 29, following a meeting with NewJeans' parents, VP Lee drafted a memo detailing grievances against HYBE, which included issues like stealing concepts and poor recognition by HYBE. This memo aligns with Min's earlier claims of acting as a whistleblower within the industry.
The controversy highlights a deeper strategy involving 'moral hazard,' aiming to weaken HYBE’s ethical stance, showing the intricacies of corporate governance conflicts in the entertainment industry. Min also planned to utilize NewJeans' parents in these strategies, positioning them to initiate complaints to HYBE, setting the stage for Ador to step in and escalate the situation if necessary.
No articles to show.
