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On November 10, 2024, South Korean media outlet SR Times reported that Min Hee-jin's apartment was provisionally seized. Reportedly, a claim of 100 million won (approximately $71,520.53) was also filed against the former ADOR CEO. The application for seizure was submitted to the court by an unnamed creditor on September 23, 2024. However, the cause of the seizure has not been revealed yet.
The media outlet reported that her property was registered in 2011, where she paid 387 million won ($2,76,784.44). However, as per KB Real Estate, the property's price increased in the last 13 years, currently costing around 985 million won ($7,04,477.19).
Meanwhile, as per SR Times, the Seoul Western District Court accepted the creditor's complaint to seize the former ADOR CEO's property.
For the unversed, as per law, a real estate provisional attachment enables creditors to seize a debtor's assets to possibly execute a future decision, such as selling the property at auction. To stop the debtor from selling assets, creditors frequently request provisional attachment or seizure.
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Furthermore, the news outlet also mentioned that Min Hee-jin had previously spoken about her financial condition at the 2024 Hyundai Card DaVinci Motel event, held on September 27. She claimed that her legal fees stood at around 2.3 billion won (approximately $1.64 million) due to her ongoing lawsuit against HYBE Corporation. Min Hee-jin also claimed that she would have to sell her house to pay for the fees.
SR Times reported it seemingly hinting at the former ADOR CEO's inability to sell her apartment now due to the new lawsuit against her.
HYBE and Min Hee-jin's legal feud standoff explored
In April 2024, HYBE sued Min Hee-jin for breach of privacy and an alleged attempt to seize ADOR and NewJeans from the parent corporation. HYBE filed a criminal lawsuit against her and requested that she step down from her position as the ADOR CEO. The parent corporation called an emergency meeting on May 30, 2024, to discuss her dismissal.
She filed an injunction at the Seoul Central District Court to stop HYBE from using its majority shareholder's right to fire her. The corporation owns 80% of ADOR shares, Min Hee-jin owns 18% while the rest 2% is acquired by other label executives. She won the injunction and the court ordered HYBE to not use its rights to vote during the shareholders' meeting.
However, the parent company replaced the entire ADOR board of directors and appointed Kim Joo-young as the Chief Human Resources Officer, Lee Jae-sang as the Chief Strategy Officer, and Lee Kyung-jun as the Chief Financial Officer. In July 2024, Lee Jae-sang was also appointed as HYBE's new CEO, replacing Park Ji-won.
On August 27, 2024, Korea JoongAng Daily reported that Min Hee-jin was fired from her role by the new ADOR board and Kim Joo-young was appointed as the new label head. On September 13, 2024, The Korea Times reported that the former ADOR CEO filed a second injunction at the Seoul Central District Court to get re-appointed as the label's CEO.
ADOR called another shareholder's meeting on September 25, where the panel unanimously rejected Min Hee-jin's reinstatement as the label's CEO. However, on October 17, 2024, Newsen reported that another emergency shareholders' meeting was held where the board hired her as the inside director to see NewJeans' production for 3 years, starting November 2, 2024.
On October 29, 2024, Music Business Worldwide reported that the Seoul Central District Court rejected her injunction and legally blocked her from getting reinstated as ADOR's CEO. She argued that HYBE breached her shareholder's contract while firing her which the court rejected, citing that the shareholder's contract is different from her CEO agreement.
As per Music Business Worldwide's report, the court stated that Min Hee-jin's injunction had "insufficient evidence regarding the rights to be protected."
In other news, HYBE got embroiled in another controversy when its internal report was leaked. The report was disclosed at the National Assembly Audit on October 24, 2024, where the company was criticized by the ministry for creating an internal report allegedly containing demeaning remarks against rival K-pop groups like Stray Kids, BLACKPINK, NCT, IVE, EXO, and more.
