HYBE shares Min Hee Jin claimed 2 billion KRW salary and equally in incentives in 2023 post press conference

Amid ongoing tussle, HYBE discloses Min Hee Jin demanded a whopping 2 billion KRW salary and similar incentives, in a detailed statement refuting the ADOR CEO's claims. Read on!

By Saumya Saxena

Updated on Apr 26, 2024 | 10:49 PM IST | 284.2K

Bang Si Hyuk, Min Hee Jin; Image Courtesy: Bang Si Hyuk, HYBE

After Min Hee Jin, the CEO of ADOR, accused HYBE of paying her less than she deserved, the company's response attracted attention by showing the huge salary and incentives she demanded in 2023.

HYBE has claimed that despite having received the highest compensation from the company, she was not able to agree with them; hence, there were rumors that someone could have been planning a takeover.

HYBE reveals Min Hee Jin’s shocking fee demand

HYBE, the K-pop conglomerate has shared a strongly worded statement in response to ADOR CEO Min Hee Jin’s claims that she made during her press conference on April 25. In a recent statement, HYBE revealed that Min Hee Jin's total earnings far exceed industry standards, making her the highest-paid employee within the company. Her compensation package for 2023 reportedly amounted to a substantial 2 billion KRW (approximately 1.46 million USD), including performance incentives.

Despite this, negotiations between Min Hee Jin and HYBE reached an impasse, as her demands allegedly surpassed what the company could accept. HYBE also claimed that the whole compensation issue concerning the case of Min Hee Jin got her to try and buy off the management rights of ADOR in order to make the company an independent entity.

HYBE’s response to Min Hee Jin’s allegations during the press conference

In response to ADOR CEO, Min Hee Jin’s press conference on April 25, where she leveled numerous allegations against HYBE and its head honcho Bang Si Hyuk, the latter has now issued a detailed statement refuting her claims.

Here are some of the details shared by HYBE;

1. In reference to Min Hee Jin’s claim that her take-over of ADOR’s management rights was a casual talk

HYBE responded to ADOR CEO Min Hee Jin's claims regarding management rights, asserting that discussions, spanning several months, were well-documented and involved a vice president knowledgeable in corporate governance. The prolonged nature of the discussions, accompanied by third-party involvement, suggests a concrete plan rather than casual conversation.

2. Regarding Min Hee Jin’s claim that HYBE launched an audit without any response to whistleblowing mail

HYBE challenged Min Hee Jin's assertion of not receiving a response to a whistleblowing email, presenting evidence of a detailed 6-page response sent promptly. The audit, initiated due to concerns over management rights seizure and data leaks, proceeded accordingly without prior notification.

3. In response to claim that there was lack of guidance on returning company’s information-carrying assets

Regarding allegations of neglecting to retrieve information assets, HYBE explained their attempts to contact Min Hee Jin and subsequent retrieval efforts. Contrary to her claims, they assert providing new devices promptly to ensure work continuity.

4. Regarding Min Hee Jin’s claim of postponing NewJeans’ debut after LE SSERAFIM

HYBE addressed claims regarding NewJeans' delayed debut, attributing it to R&R disputes between SOURCE MUSIC and Min Hee Jin. They emphasized accommodating her wishes for a separate label and significant financial support provided for the group's debut.

5. In reference to Min Hee Jin claiming restrictions on NewJeans’ promotion after debut

HYBE defended promotional decisions concerning NewJeans, citing concerns over premature exposure of member details amid concurrent debut schedules. They refuted claims of neglect, citing substantial PR efforts in comparison to other label promotions.

6. Regarding claims that HYBE has been ignoring NewJeans’ promotions

In response to claims of neglecting NewJeans' promotion, HYBE emphasized their comprehensive promotional efforts. They cited the substantial number of press releases issued for NewJeans in comparison to other label artists, demonstrating a commitment to equitable promotion across all their labels. With 273 press releases dedicated to NewJeans alone, HYBE contends that they are actively promoting all their artists without bias or discrimination.

7. In reference to the claim of “slave contract”

HYBE responded to the accusations of a "slave contract" by explaining that the anti-competition clause following the share sale is meant to prevent such a scenario. They mentioned that CEO Min began selling stocks in November and can be freed from the clause once the contract ends in 2026. The generous compensation and opportunity to launch a business render the notion of a "slave contract" irrelevant to HYBE. They emphasized efforts to clarify the contract, which appeared unclear, and firmly stated that Min Hee Jin's worries were unfounded.

8. Regarding Min Hee Jin’s claim, requesting ESG management

HYBE reaffirmed its commitment to ESG management, citing efforts to produce eco-friendly albums despite Min Hee Jin's criticism. They highlighted resistance from ADOR in adopting these practices.

9. Regarding to Min Hee Jin alleging lack of communication from HYBE

HYBE said that the shareholder agreement had all kinds of discussions with CEO Min Hee Jin over changes to the agreement, and these negotiations were stopped after seeing her whistleblowing inquiry. HYBE, however, genuinely responded to her concerns. However, an audit showed that Min had secretly obtained advice from HYBE in-house employees and those external to the agreement and management rights takeover issue, a matter that reflects a lack of transparency and trust.

10. In reference to Min Hee Jin’s “casual friendship” with a shaman

HYBE expressed concerns over Min Hee Jin's association with an outsider involved in management decisions. They emphasize the significance of confidential information exchange and potential hiring solicitations.

11. Regarding the allegation that NewJeans is not cherished by HYBE

HYBE responded to allegations of neglect during NewJeans' comeback, revealing that email attacks around NewNaevs' comeback were initiated from the side of CEO Min Hee Jin. After years of giving in to all kinds of demands, HYBE noted her demands as part of a larger plan to seize management rights; a reason enough for an audit. They asserted the audit's necessity to safeguard company interests amid escalating tensions.

HYBE also emphasized their request for Min Hee Jin to refrain from mentioning artists during disputes to protect their interests.

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ALSO READ: ADOR's Min Hee Jin VS HYBE: Feud between NewJeans' label and K-pop conglomerate EXPLAINED