HYBE has launched an audit of the management of K-pop group NewJeans’ agency, ADOR, and its CEO, Min Hee-jin, a former creative director at SM Entertainment, after allegations of takeover attempt surfaced.
Korean media reported that HYBE started the audit of Min Hee-jin and another ADOR executive on April 22.
NewJeans (X)
HYBE Chairman Bang Si-hyuk (left) and ADOR CEO Min Hee-jin (HYBE)
Personnel from the audit team visited ADOR’s management work area to retrieve the company’s computers and get statements.
HYBE, the reports added, believes that ADOR’s management attempted to take over the management rights of ADOR.
“It is true that the right to audit has been activated against ADOR executives due to suspicions that they are trying to take over management rights (of ADOR),” a HYBE official told Korean media.
This is interpreted as ADOR executives trying to separate and become independent by taking control of ADOR.
ADOR is a label under HYBE founded by CEO Min Hee-jin in 2021. HYBE’s stake in the company is 80 percent while the remaining 20 percent belongs to Min Hee-jin and ADOR management.
It has been reported that legal action will be taken if necessary.