The Ball Is in HYBE's Court: Will It Catch Min Hee-jin's Offer to Drop 25.6 Billion Won?

The ball is now in HYBE’s court. Min Hee-jin, former ADOR CEO and current OOAK Records founder, used her fourth press conference to propose a full cease-fire with HYBE. She offered to give up the put option she won in the first trial―worth about 25.6 billion won―if both sides drop all ongoing civil and criminal cases and end the dispute.

On the 25th, Min held a press conference at Kyowon Challenge Hall in Jongno-gu, Seoul, and read a six-minute statement. The event was called on short notice the day before. This marks her fourth briefing after ones in April and May 2024 and January 2026.

This isn’t Min’s first peace offer. At her second press conference in May 2024, she said HYBE and she needed a realistic way forward. “We should put emotions aside and think practically,” she said at the time, adding, “A swift decision is needed for the artists, shareholders, and fans.” Even as she stressed she had been taking issues head-on, she also acknowledged concerns about a prolonged fight.

But the situation has shifted with a first-instance court ruling. The Seoul Central District Court’s Civil Division 31 sided with Min in both the suit HYBE filed to confirm termination of a shareholders’ agreement and Min’s countersuit demanding HYBE pay the share purchase price. The court ordered HYBE to pay Min about 25.5 billion won, effectively acknowledging her put option rights of roughly 25.6 billion won.

Even so, Min said, “I arranged this briefing to make a meaningful proposal to HYBE,” adding, “I will give up the 25.6 billion won, and in return, let’s immediately halt all ongoing civil and criminal cases and end every dispute.” She continued, “There are values more important to me than money. I hope this decision―to trade a large sum for other values―can lead to progress and harmony in the K-pop industry.”

She cited the members of NewJeans as a key reason. “I can’t watch a reality where five members who should be happily on stage end up with some on stage and others in court,” she said. “We can’t build a healthy culture with hearts this torn apart.” She added, “I’m sad I couldn’t finish the creative vision I had when launching NewJeans. I hope ADOR’s statement in court―‘We’ll treat NewJeans well if they return’―becomes a reality.”

Min directed a message to HYBE and Chairman Bang Si-hyuk: “Let’s meet not in court, but in the creative arena.” She added, “In an era of heightened corporate responsibility, choosing harmony and reducing risks in entertainment is the wise decision for shareholders and fans.”

If HYBE accepts Min’s proposal, the long-running legal battle could come to a close. If it refuses, the conflict will likely move to the appellate stage and potentially expand. Observers note HYBE has already lost ground. With Min winning at first instance and making the first move to reconcile, some say HYBE has been left with little justification. What remains is HYBE’s choice.


Photo by Baik Seung-Chul

(SBS Entertainment News | Kang Kyung-youn)