“Min Hee-jin will be replaced within two months”...HYBE applies to the court for permission for an extraordinary general meeting of shareholders

Representative Min's failure to comply with the request to convene the board of directors.

Adore management plan to be replaced through extraordinary general meeting of shareholders.

Interrogation date tomorrow... decision on permission will be made in 3 weeks.

[Dalian = Reporter Danbi Min] : After going through a conflict with its affiliate Adore,

Hive submitted an application to the court for permission to hold an extraordinary general meeting of shareholders. Since Adore CEO Min Hee-jin did not respond to the request to convene the board of directors, the intention is to expel Adore executives even by holding an extraordinary general meeting of shareholders.

According to Yonhap News on the 29th, Hybe filed an application for permission to hold an

extraordinary general meeting of shareholders with the court on the 25th in order to replace Adore's management within one to two months.

Previously, on the 22nd, Hybe requested that a board meeting be held on the 30th to replace management through Adore's audit, citing 'attempts to seize management rights' and other reasons.

According to the music industry on the 29th, CEO Min Hee-jin sent a reply to Hybe this morning in her name stating, "We will not hold a board meeting on the 30th." CEO Min refused to convene the board of directors on the grounds that Hybe's request to replace Adore's CEO and internal board members was not only an illegal audit, but also convening a board meeting was outside of his authority and thus not legal.

Voting rights on Adore's board of directors are held by Representative Min, Deputy CEO Shin, who is close to Min, and three directors named Kim, so Representative Min is in control.

A Hybe official objected, saying, "According to Adore's articles of incorporation, the auditor

has the authority to monitor the execution of director duties, and has the right to directly convene a board meeting if the request is made and failure to comply." He added, "It is difficult to understand the reason for CEO Min's refusal to comply." did.

Accordingly, Hybe plans to hold an extraordinary general meeting of shareholders and begin

replacing management, including dismissing CEO Min. Hybe has filed an application for permission to hold an extraordinary general meeting of shareholders at the Seoul Western District Court, and the hearing will be held privately at 4:35 pm on the 30th.

The court sets a hearing date and grants permission usually within 3 weeks.

Wealth is determined. When the court makes a decision, a special general meeting is notified on the same day, and an extraordinary general meeting is held 15 days later. this In this case, Adore management, including CEO Min, will be replaced in 1-2 months.

Hive believes it can be done.

THE COMMENTS:

1. It seems right not to consume anything from Hybe anymore, no matter what happens...
2. Min Hee-jin even wielded the metaphorical sword in a press conference, but Hybe doesn’t seem to care. They really are the great villains of K-pop.
3. I'm truly disappointed; it feels like abuse of power.
4. This is how they bring down K-pop?
5. Sucked the life out of everything. They raised expectations with Min Hee-jin when Hybe first formed, and now they treat her like this.
6. I'm going to boycott all Hybe labels. Even if I'm the only one, I really can't stand them.
7. Thuggish garbage.
8. I won't consume anything from Hybe anymore; they're filthy.
9. I'm worried they might give NewJeans some gross old-guy concepts if Min leaves. Seriously...
10. Wow, Hybe doesn't even care about appearances.
11. Hybe is truly the axis of evil in K-pop. I'll boycott them myself.
12. I'm so upset. I'm a fan of NewJeans and I like Min Hee-jin, but this really makes me sad. It's not even my business, but it’s so frustrating...
13. I just joined the Bunnies Club and am planning to go to the Tokyo Dome. Does this mean the money I spend on NewJeans ends up in Hybe's pocket without Min?
14. Can we see your corporate card transactions?
15. This is insane; I'll definitely boycott Hive. I've already removed all their songs from my playlist.
16. They're just a bunch of gangsters.
17. So they eventually let her go? I won't consume anything from Hive.
18. I'll never consume anything from Hive again.
19. Wow, real scum.
20. Will they lift the non-compete clause if she's fired? If NewJeans stays, it'll be sad, but if they just lift the non-compete clause, Min could start a new company or work elsewhere.
21. Filthy thugs... Hive is revealing their true nature.
22. How can they stop this? This is so disheartening.
23. Wow, no matter how hard you work, even if you only use your corporate card for late-night food, if you make a profit, this is the treatment you get.
24. Hive is number one at ruining K-pop, haha.
25. Looks like karma will come back big time.
26. Can't they leave with NewJeans? Please...
27. They'll transfer the "successful formula" they think NewJeans has to Lee Kwang and push it there. It's typical of a company that has never succeeded with a girl group before, just trying to suck out every bit of value.
28. I can't even listen to the music anymore. I used to really enjoy it.
29. I'll stop supporting Hive.
30. This is disgusting.
31. It is what it is; a corrupt institution.
32. Ugh, I really hate this...
33. I vow not to consume anything from Hive.
34. Thanks for the memories, Hive. I'm out.
35. Wow, I'm never listening to their songs again.
36. I might be a small voice, but I'll boycott and support Min Hee-jin. Hang in there, really... ㅠㅠ
37. Wow, this is serious abuse of power; it gives me chills.
38. They infested the gaming industry, then moved into K-pop to drain it dry. These sleazy old men...
39. I'll never consume anything from Hive. If they ruin K-pop, this is where it starts, and there won't be any true artists in this industry who are proud of their work and content.
40. Poor Min Hee-jin and NewJeans... Even though I'm not a huge fan, I feel sorry for them.
41. I really hate Hive. Stop ruining K-pop.
42. What about NewJeans? They're so young; what will happen to them?
43. I'm done with anything Hive.
44. Please free NewJeans, this is insane.
45. Is this how it works? How is this allowed?
46. NewJeans, ㅠㅠ, I hope they're okay.
47. Just cut off the goose that lays the golden eggs. Do you think those old men can create a group like NewJeans? They're already infamous for chart manipulation; anything they do will be suspect.
48. If you fire her, at least lift the non-compete clause. Don't be scumbags and prevent her from working elsewhere.
49. Why does Min Hee-jin have to leave? Seriously?
50. I've removed all Hybe content from my playlist, yuck.
51. You can be incredibly capable and still get fired.
52. It's so pathetic.
53. If Min Hee-jin gets fired, can she get unemployment benefits?
54. And to think they were spreading rumors about Min Hee-jin controlling Ador. With an 80% majority shareholder, who could win?
55. Please let karma hit them hard.
56. I'll never support Hybe again.
57. This is really absurd.
58. They truly treat people like disposable parts. It makes me question everything about my job.
59. They're disgusting, really.
60. It's criminal.
61. I'm a fan of another group, but I only like Ador in Hybe. Now I'm so frustrated because they ruin everything I like.
62. An entertainment company that engages in politics, haha. They came into K-pop to exploit it. All the weird stuff in K-pop can be traced back to the same source.
63. I'm a fan of a Hybe groups, but I'm exhausted and have had enough. It's not the idols' fault, but I'm just tired of the constant scandals.
64. What about NewJeans? They're just kids; I'm really worried.
65. Let NewJeans go, seriously.
66. Min Hee-jin's dismissal is essentially the end of NewJeans.
67. Copy all you want, promote idols on TV shows, and try to gain sympathy by pushing your idols to the front. But I'll never forget this.
68. This company is garbage.
69. Investigate Hybe.
70. They want to kill off NewJeans, seriously.
71. And then they cut open the goose that lays the golden eggs, sell off shares, and leave. These fools have no idea what they're doing. I only hope that Min Hee-jin can get out of this and go on to do great work elsewhere. Even if I don't explicitly support Min Hee-jin, this is wrong.
72. It's just pathetic, haha.
73. Is this what K-pop is? A company from the gaming industry...
74. Hybe is the cancer of the idol industry.
75. Blinded by jealousy, they cut open the golden goose. Do those old men think they can create another NewJeans? They're already notorious for chart manipulation; they can't escape that reputation.
76. I'll keep an eye on whether they'll lift the non-compete clause after firing her. If they cut her off and prevent her from working elsewhere, that's just wrong.
77. Do what you want. You can promote all you want, try to make your idols look good, but you'll disappear quietly without any real recognition in the end.
78. I won't consume anything with Hybe's name on it.
79. Get out of here, Bang Shi-hyuk!
80. Please stop ruining K-pop.
81. I'll hate Bang Shi-hyuk for the rest of my life.
82. They're not even subtle about it.

ORIGINAL POST HERE