HYBE v. Min Hee-jin: Lawsuit to Confirm Termination of Shareholders’ Agreement – 1st Hearing

The 31st Civil Division of the Seoul Central District Court (Presiding Judge Nam In-su) held the first hearing for the lawsuit filed by HYBE against former CEO Min around July 2024, seeking confirmation of the termination of the shareholders’ agreement.

After confirming the defendant’s claims and seeking opinions on whether to admit evidence, the court decided to summarize both sides’ arguments at the second hearing and concluded the session in approximately 20 minutes.

Min Hee-jin’s Arguments: Her position is that the confirmation lawsuit has no practical benefit because she exercised the put option while claiming the contract remains in effect, as it has not been terminated

HYBE’s Arguments: Their position is that the contract has already been terminated due to the termination notice, and therefore former CEO Min cannot exercise the put option; the put option exercised after the notice is invalid, so this confirmation lawsuit has practical benefit