Min Hee Jin Accused Of Providing Excessive Incentives To Ex-Boyfriend

On December 18, allegations were raised in a lawsuit between HYBE and former ADOR CEO Min Hee Jin regarding the termination of the shareholder agreement and put option. HYBE argued that Min unilaterally signed a favorable contract because she and Kim, the CEO of BANA, who was in charge of producing NJZ’ (NewJeans) music, were in a romantic relationship at the time.

During Min’s testimony, HYBE revealed a service contract regarding NewJeans, which, according to the contract, paid BANA 33,000,000 KRW ($~22,359.32 USD) per month, as well as additional labor costs to CEO Kim and others.

Furthermore, it also revealed that she stipulated an additional incentive of 5% of total sales in the year of the album’s release. Under this contract, BANA received a service fee twice the total settlement amount for all the members in 2022.

HYBE claimed that despite ADOR recording an operating loss in 2022, BANA received a larger payment than NewJeans under the service contract.

Based on he email sent by ADOR’s vice president to CEO Kim, former CEO Min signed a generous contract with BANA.

— HYBE legal representative

The email stated that CEO Kim’s annual salary was higher than Min’s and was among the highest in the entertainment industry.

Additionally, it was revealed that Min signed a pledge to give Kim a portion of the expected earnings from exercising a put option in her shareholder agreement with HYBE.

While Min admitted to the details of the contract and being romantically involved with Kim, she denied the allegations, claiming the contract was based on skill and not favoritism.

I believed Kim was capable and could change the world. I paid him a modest compensation compared to the industry. I think it’s only fair to reward individuals who consistently excel in their careers over a long period by providing them with compensation that enhances their motivation.

— Min Hee Jin