HYBE audits ADOR for taking over management rights, plans to accuse NewJeans' representative. CEO promises support for members.
April/25/2024 10:55Related Groups & Members
HYBE, which has started an audit on ADOR on suspicion of taking over management rights from NewJeans, announced the interim audit results today (25th). Today, they plan to accuse individuals including Representative Min Hijin. According to the audit results, HYBE confirmed specific facts that a plan to take over management rights was formulated under the leadership of ADOR's representative director, and also secured physical evidence. One of the audit targets submitted information assets containing the plan to take over management rights and contact with external investors as evidence during the investigation process, and also admitted to creating documents to attack HYBE. Based on face-to-face interviews and conversations recorded in the submitted information assets, the representative director of ADOR instructed the management team to prepare methods to pressure HYBE to sell ADOR's shares owned by HYBE. As a result of this instruction, specific discussions were held on methods such as terminating exclusive contracts with artists and invalidating contracts between the representative director of ADOR and HYBE. Conversations such as "Attract global funds and trade with HYBE," "Critically appeal to everything HYBE does," and "Think of ways to torment HYBE" were also exchanged. The conversation record also included execution plans such as "Prepare for the May public opinion battle" and "Make ADOR an empty shell and take it out." In addition, HYBE also secured a statement from the audit target that "The wording 'Ultimately escape from HYBE' was copied from the words of ADOR's representative director." Based on this document, HYBE plans to submit a criminal complaint against individuals on the 25th for suspicion of breach of duty in business. In the future, HYBE plans to provide psychological and emotional care for NewJeans members and support them for a successful comeback. They also plan to meet with the members' legal representatives promptly to discuss ways to protect the members. CEO Park Jiwon of HYBE stated, "We apologize for causing concern to fans, artists, and members in the process of enhancing the multi-label system," and "We will do our best to provide psychological healing and emotional stability for artists, who are valuable assets of K-POP, now that the incident has come to a close."
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