2024-09-26
HYBE Official Statement
Since there are many falsehoods in the interview article with Director Min Hee-jin reported by JoongAng Ilbo on September 26, we would like to inform you as follows.
■ HYBE has never proposed a negotiation offer saying, “We will give you money, so take it and leave.”
First of all, HYBE has never proposed a negotiation offer to Director Min Hee-jin saying, “We will give you money, so take it and leave.” It is simply baffling to us that she makes such absurd false claims in a media interview.
■ The audit was conducted based on clear internal and external reports, and it is a grave matter currently under police investigation.
Director Min claimed that the audit was conducted based on “accidental emotion” and “illegally based on false facts,” but audits are not conducted accidentally. It was initiated following a series of internal and external reports. The audit results confirmed countless instances of malicious intent and circumstances of meeting investors, where Director Min and the Vice CEO sought ways to attack the company over a long period, stating, “Make it so no one within HYBE can touch us,” “Ultimately exit HYBE,” and “Actively utilize the fact that the mothers have not signed contracts.” Furthermore, Director Min herself is still refusing to respond to the company audit. This is a serious matter currently under police investigation.
■ Director Min was fully guaranteed full authority over production and management.
The claim that we broke the promise of guaranteeing independence for the “Min Hee-jin Label” is also not true. During her time as CEO, Director Min was guaranteed full authority over production and management more than any other label. She has enjoyed greater benefits and support regarding put options, salary, treatment, activity support, and promotion than any other label without any interference.
■ The columnist also confirmed that the claim that a foreign PR agency distributed slanderous materials is false.
The claim that a foreign PR agency distributed slanderous materials is also not true. The agency in question sent a reply stating, “At no point did any agency affiliated with HYBE provide any slanderous or untrue information about Min, to suggest otherwise would be a lie.” Additionally, columnist Jeff Benjamin also sent a reply stating that he never said he received materials full of slander against Director Min.
■ Regarding album sales in Japan, she is cleverly distorting facts by mixing up shipment and sales criteria.
She is also cleverly distorting facts regarding album sales in Japan. The article content claiming “1.02 million copies were sold in Japan alone” was such a huge distortion of fact that we explained the sales volume using Oricon chart data available at the time. Although it became known the day after the article was published that the Recording Industry Association of Japan (RIAJ) certified it as Gold (100,000 copies), Gold certification is selected based on “shipment volume.”
■ The suspension of the fan meeting and album work is not due to HYBE’s obstruction of business, but due to Director Min’s negligence and delayed decision-making.
The suspension of the surprise fan meeting for Korean fans and album work is not due to Director Min’s dismissal as CEO or the exclusion of the Vice CEO from duties. ADOR was considering the Seoul World Cup Stadium as a venue for the Korean fan meeting, but the rental was rejected due to turf issues. The new leadership gathered working-level opinions to discuss alternatives for this and the new album, and requested meetings with Director Min several times and communicated via email, etc., but Director Min is causing disruptions by delaying responses or suddenly taking long leaves of absence. Many tasks for the fans are currently halted due to Director Min’s negligence and delayed decision-making.
■ The board agenda is not a subject for consultation and there is no obligation for prior notice, yet it was clearly notified 3 days before the meeting.
Director Min stated that the agenda for the dismissal of the CEO was not an agreed-upon agenda, but this is also a preposterous claim. Board agenda items are not subject to consultation, and there is no obligation for prior notice. Nevertheless, the ADOR Board of Directors clearly notified Director Min of the agenda 3 days before the meeting held. Although she claimed there was “no distinct reason that was acceptable” for the dismissal, the Board explained that “it is policy-wise appropriate to separate producing and CEO duties” in addition to the breakdown of trust. This remains clearly in the records.
Director Min reveals a serious disqualification as an executive just by spreading false facts through interviews. We hope she returns to her main job and dedicates herself to work for the artists and fans.