▲ Below is the official statement from HYBE.
Hive urges Min Hee-jin and those around her to cease spreading groundless suspicions and engaging in fictional writing based on imagination.
1. We clarify the facts related to the claim made by Hive that "Analyst A arranged a meeting between Audu and the management team of Hive and foreign investors."
Analyst A was aware that without the consent of the major shareholder, no capital increase or sale was possible, and therefore, did not provide any opinions related to the takeover of management rights, such as capital increases or sales.
Regarding the meeting that was reported, it was a meeting organized by Analyst A for the purpose of attracting domestic K-culture investments, including numerous listed and unlisted companies. It was part of a program that included experiencing various Hallyu companies and industrial growth prospects, including K-pop, as well as visiting Seoul's famous restaurants. The lunch meeting before the Hive meeting was simply that, and packaging it as a separate investor meeting for Audu is a clear fabrication.
The conversation at the meal was a general discussion based on Audu's 2023 performance, and there was no discussion of "capital increase" or "sale." Since Hive held 80% of the shares, it was a well-known fact that there was no separate investment method for Audu, so there was not even a topic to discuss.
To grasp market trends, there was a discussion about Audu's value, but the subsequent KakaoTalk messages, not disclosed by Hive, led to a serious consideration or negotiation, as evidenced by the context. It is a conversation that proves that Hive cannot attempt to take over management rights, as everyone knows based on the context. Furthermore, just five days before Hive's audit on April 17, it is evident that they were anticipating the growth of New Jinse and future boy group prospects. So, what nonsense is it to claim contract termination or capture evidence of a takeover attempt?
Surprisingly, Analyst A revealed that he had a meal with Audu's Deputy Director at Hive's IR meeting with K-team leader and Park Ji-won, CEO, in the afternoon after the meal. Thus, even a private meal, which poses no procedural or substantive problems, is now disguised retroactively as something suspicious when labeled with words like "management rights" or "audit." This absurdity is part of a daily occurrence where trivial events are disguised as extremely sinister acts.
Analyst A is also an innocent civilian. Hive should stop unnecessary harassment and raising issues.
2. Min Hee-jin received advice from Analyst A regarding the shareholders' agreement at the suggestion of CEO Park Ji-won.
On December 9, 2023, CEO Park Ji-won suggested during a KakaoTalk conversation with Min Hee-jin about discussing the contents of the shareholders' agreement, "If you don't trust that, then do business with that PE guy" "I won't stop you" "Judge for yourself" suggesting that if she did not trust herself, she should review a fair multiple through an external consulting firm.
[23.12.09 Sat
Jiwon: If you don’t believe that, work with that PE guy.
Jiwon: I won’t stop you (12:28 a.m.)
Jiwon: Make your own decision (12:34 a.m.)]
Min Hee-jin no longer trusted CEO Park Ji-won, who had changed his words several times, and because Audu had no internal legal or financial organization to review it, she asked A, a long-time acquaintance, to review the contract.
It was nothing more than receiving general negotiation advice based on publicly available information, such as "What is a suitable multiple based on Audu's growth and market evaluation?" and "What justification does Hive need to accept a negotiation offer?" It is far from leaking confidential information or leaking significant trade secrets.
In fact, in the article released by Hive, Analyst A advised, "In final negotiations, aim for an agreement at a 20x level," but to now question this advice based on CEO Park Ji-won's suggestion is absurd. Is it because it depends on the CEO's mood whether it becomes an issue or not?
CEO Park Ji-won emphasized that he had not betrayed her type and that it was not a situation where she should mistrust him. He encouraged her to sign, saying, "Just trust me, I won't harm Hee-jin" because he believed that their mutual dissatisfaction with Hive had formed a common ground, and Min Hee-jin had also indicated that she needed help regarding compensation and contract details, so it was a situation where she could not doubt CEO Park Ji-won's words. In fact, Min Hee-jin even thanked CEO Park Ji-won for his concern at that time.
However, over a year later, she was shocked to realize the fatal contradictions in the contract and the problems that would lead to a lifetime ban on her business. Immediately pointing out these issues, CEO Park Ji-won consistently made excuses and pretexts such as "I didn't see the contract," and "I didn't believe it." Moreover, the explanation of the call option was different from the contract, undermining the trust relationship she believed in, leading to a sense of betrayal. Who could not seriously reconsider the contract in such a situation?
[23.12.12 Tue
Min Hee-jin: And who took the lead and who showed condescension? (7:38 PM)
Jiwon: If you really thought I was pranking you, I would have called (7:38 p.m.)
Min Hee-jin: You were clever by mixing loyalty and affection.
Min Hee-jin: Discovered a year later (7:39 PM)
Jiwon: What are you talking about?
Jiwon: Ha (7:39 PM)
Min Hee-jin: What you are saying is what you are saying right now.
Min Hee-jin: Ha. That’s what I’m going to say.
Min Hee-jin: Either call a third-party law firm and negotiate fair (7:39 p.m.)
Heejin Min: I don’t like excessive values either.
Heejin Min: I just want to proceed fairly.
Heejin Min: Now I feel skeptical (7:40 PM)
23.12.12 Tue
Min Hee-jin: If that's really the case, why didn't you include it in the first place? Article 4 governs all transfers and transfers (8:49 p.m.)
Jiwon: I saw the contract for the first time this morning, because I don’t read all contracts. (8:50 p.m.)
Min Hee-jin: I guess OO had that intention.
Heejin Min: Then
Min Hee-jin: To me without even looking at the contract (8:50 p.m.)
Min Hee-jin: Are you telling me to trust you?
Heejin Min: This is ridiculous (8:51 PM)
Jiwon: Isn’t that the main condition? (8:51 PM)
23.12.12 Tue
Heejin Min: Okay (9:22 PM)
Min Hee-jin: Believe it
Min Hee-jin: No.
Heejin Min: Get a legal review (9:23 p.m.)
Jiwon: Because OO wrote it together. (9:23 p.m.)
Heejin Min: I should have done it.
Heejin Min: Trust me (9:23 PM)
Jiwon: I summarized all the main conditions and gave them to you (9:23 p.m.)
Min Hee-jin: I paid 13 times better.
Min Hee-jin: It’s not Evita, what about Evita?
Min Hee-jin: A loud explosion
Min Hee-jin: So I found everything (9:23 PM)]
3. Hive, please honestly say if you simply dislike Min Hee-jin.
Looking at the current situation, it is clear that Hive's first goal is to dismiss Min Hee-jin and destroy her credibility socially. Initially attacking Min Hee-jin, now they are deliberately making trivial matters problematic and spreading fear by suggesting that those associated with her will suffer one by one.
Recently, Hive's management does not admit their responsibility for the decline in Hive's stock price for various reasons. Instead, they are framing Audu as the cause. If Audu had helped improve Hive's management performance, what about the losses they caused?
What exactly did Min Hee-jin, as Audu's CEO, do to betray Audu? Did she produce the "shortest and highest performance in the industry in 30 years in just two years" by committing fraud?
If expressing dissatisfaction with Hive is the problem, isn't it natural to express dissatisfaction and seek improvement if there are problems with the company? If there are problems with the company, shouldn't they be addressed for improvement? Both CEO Park Ji-won and Min Hee-jin expressed dissatisfaction with Hive to each other and outsiders. If CEO Park Ji-won's complaints are okay, why are Min Hee-jin's complaints considered treasonous?
Hive's claim that "Min Hee-jin spread claims about Hive similar to Analyst A's advice, and when these contents became issues, Hive's stock price dropped" is an unreasonable assertion that anyone can see. Furthermore, why is Hive constantly trying to shift responsibility elsewhere for the stock price decline, when the very people who initiated the surprise audit and publicized it in the media are trying to do so?
The depiction of L, who has been with Audu for just over three months, as "Min Hee-jin's right-hand man" without any basis is a childish and unnecessary expression that appeals to the desired imagination emotionally and clearly reveals Hive's intention to suppress Audu.
Protracted conflicts are inevitable because they did not happen overnight and involve layers of accumulated issues. Editing and excerpting to suit one's own taste, ignoring such context, is extremely despicable and amounts to spreading falsehoods.
The evidence that Hive holds is just KakaoTalk conversations, which were obtained by coercive and intimidating methods and are now only chat logs for which consent has been withdrawn. Even those can be sufficiently refuted based on the context. So, why do they insist on telling blatant lies through editing
THE COMMENTS
- "They've cleared out all the KakaoTalk messages... If you can't believe it, then work with that person and that project.
- You judge for yourself.
- Why did they ask to meet and then say something like that?
- Hybe really seems to be in trouble...
- Audor Fighting!
- Let's do a mass game.
- Hybe really sucks.
- Hybe doesn't really have a handle on anything. LOL, idiots. Min Hee-jin, fighting!
- Audor hi there.
- Honestly, it's pathetic to talk about it. Really, Hybe?
- Hybe's media play is so embarrassing and it looks like nothing. Audor, fighting.
- What's with Park Ji-won?
- Audor, fighting. Min Hee-jin, fighting. Hybe, go down.
- Hybe, be careful with your fake rumors.
- They fail at manipulating public opinion, so they're rallying the people around them. It's just pathetic.
- Hybe, please calm down.
- It's so messy; something keeps coming out.
- Seriously annoyed.
- The more you look at Hybe, the more you realize they're masters of manipulation. Deleting all sorts of contexts and spinning rumors. Do they really not have any cards in their hands?
- They gather everyone around, twist nonexistent crimes, and end up spitting in their own faces. So annoying, seriously.
- Now, even if Hybe's statement comes out, I'll just reject it. How many times has this happened? They list seemingly related words and drag people in, repeating [Exclusive] embezzlement! and stuff... Seriously, if they have no evidence, stop pushing the emotional buttons of those who believe in Min Hee-jin.
- If Min Hee-jin tried to embezzle, wasn't it Park Ji-won who employed her? LOL. So funny.
- Wow, Park Ji-won is amazing. LOL.
- What's with Park Ji-won? So she was the one who wanted to meet.
- Is it starting again? Something new every day.
- I really hate Hybe... They're doing everything.
- Audor is doing great. LOL. Hybe is disgusting.
- What's with Park Ji-won? LOL. Seriously, is she doing that?
- KakaoTalk is amazing. LOL. Min Hee-jin, Audor, NewJins, fighting!
- Park Ji-won is really weird.
- Why do such unreasonable media plays, Hybe? Anyway, you're going to get exposed. LOL.
- These guys hit rock bottom. Who would want to work with them... Truly despicable.
- Hybe is seriously pathetic. How long are they going to keep this up? If they hate it that much, come up with a compromise and agreement quickly and send them out. Instead of constantly trying to manipulate public opinion, be careful not to make mistakes. It's affecting other artists under Hybe too; calm down.
- They underestimated it. LOL. Maybe they're worried about being stung.
- What's with Park Ji-won? Seriously LOL.
- Hybe's really dirty media play... They're really messy in their attempts to manipulate public opinion.
- Isn't external advice a tactic? I remember seeing a KakaoTalk message before when the fans of BTS were making a fuss about their parents receiving external advice, and the company tried to justify it.
- ☞37덬 I knew about the previous part, but if the latter part is true, it's really surprising.
- ☞37덬 Wow, this isn't the first time this has happened, right?
- In the end, nothing new has been revealed, and my mood is ruined... Do they want to exhaust themselves and let it go somehow? Is Hybe stupid? LOL.
- The one who made Cion was Kkakssi.
- I've read it all. I'm starting to believe Audor's side. This side seems like a much more proper company.
- It's right for Hybe to manipulate KakaoTalk chats and use them for media play. Wouldn't it be disadvantageous if this were presented as evidence in court? Why are they doing this? The CEO of Park Ji-won is someone you can't work with. Seriously, what if they get caught with such a blatant discrepancy?
- Hybe seems to have tried to set up Min Hee-jin through Park Ji-won. They wanted to blame her and take advantage of Audor and Newdo, but they ended up falling into their own trap. LOL.
- Putting the CEO who ruined Nexon in charge, Hybe is also heading down the path of destruction.
- Seriously.
- Audor's mind=my mind.
- Did they think their gaming industry tactics would work here too?
- LOL. By now, who's really the embezzler?
- 카톡을 다 깠네.. If you can't believe it, then work with that person and that PE.
- If you have doubts, don't stop.
- Make your own judgment.
- Why did you ask me to meet if you were going to say that?
- Hybe really seems to be gone...
- Way to go, Audor.
- Since you suggested it, let's do it.
- Hybe really sucks.
- Hybe really doesn't have any control over it. They're just idiots. Min Hee-jin, fighting.
- Honestly, it's disgusting to say that Hybe is really ugly.
- Hybe's media play is too ridiculous and it looks like there's nothing there. Audor, fighting.
- What's up with Park Ji-won?
- Audor, fighting. Min Hee-jin, fighting. Hybe, go to hell.
- Hybe, be careful with your fake comments.
- Since the media play failed and the public opinion turned against them, it seems like people around them are getting anxious. It's ridiculous.
- Hybe, please calm down.
- It's so embarrassing. Something keeps coming out.
- Really irritating.
- The more you see Hybe, the more you realize they're masters of forgery. Deleting all sorts of context and promoting... Are there really no cards in your hands that you're holding onto?
- They pull everyone around them, turn the nonexistent sins around, and end up spitting on their own faces. It's really ridiculous.
- Now when the Hybe statement comes out, I'll just reject it. How many times is this?
- Repeatedly listing words that seem to be there and dragging people in around them. Repeating "Exclusive" and "Betrayal"...
- Without presenting any evidence, they try to convince people who believe in Min Hee-jin as emotional fools. They really need to calm down.
- If Min Hee-jin attempted betrayal and embezzlement, isn't it Park Ji-won? Hilarious.
- Wow, Park Ji-won is amazing.
- What's Park Ji-won doing? He's the one who asked to meet.
- Is it starting again? Something new comes out every day.
- I really hate Hybe... They're doing all sorts of things.
- Audor, you're right, let's do it. Hybe is so dirty.
- What's up with Park Ji-won?
- Wow, check out this KakaoTalk conversation."
- "But seriously, shareholders are getting the short end of the stick... They caused such a commotion over nothing but smoke and mirrors."
- "Surprisingly, Analyst A disclosed that following the dinner meeting, there was a meeting with Hive's IR K team leader and Director Park Ji-won, where they revealed that Vice President Audoer had dinner together." "President Min Hee-jin received a review of the shareholder agreement at the suggestion of Director Park Ji-won." "What? There was nothing hidden about it, and it was already known that they met upon their suggestion...?"
- "Give Min Hee-jin back New Jin's."
- "Let's start by cutting off Park Ji-won."
- "Is there another trash company like Hive?"
- "Looking at KakaoTalk, the conversation has been intense since last year."
- "That's how the gaming industry works."
- "Strange lowlifes."
- "Hive should be investigated, shouldn't it? ^^"
- "Fighting Audoer! It's disgusting how Hive manipulates public opinion."
- "It's like external consulting, isn't it? Really... just like what happened during BTS." "First, let's cut off Park Ji-won."
- "Hive is not a group of scammers nor villains; it's frustrating how they manipulate and deceive."
- "Originally, did they think this would work? It seems like there's not much solid evidence."
- "Let's start by cutting off Park Ji-won."
- "Did Park Ji-won meddle in between, or is Bang just naive or conniving?"
- "Fighting Audoer!"
- "Min Hee-jin seems to be preparing for a boy group, but they've already seen auditions. It seems like they're planning to debut next year or the year after."
- "BJ seems like they'll try to end it by cutting off the tail... We shouldn't let them end like that; the whole company needs to be thoroughly investigated."
- "If Hive has so much to say, why don't they hold a press conference themselves? They wouldn't be able to handle it either. It's really ridiculous... I wonder what Park Ji-won will say after reading those KakaoTalk messages."
- "That Park Ji-won seems problematic; shouldn't we cut off Park instead of Min?"
- "Fighting Audoer!"
- "It seems like Park Ji-won was hanging around here and there... Bang seems to believe that and that's why Bang is acting like a victim."
- "Did Park Ji-won mess up the gaming industry like this too? Damn."
- "It seems like Park Ji-won really messed things up."
- "Park Ji-won is such a trash."
- "Park Ji-won is a piece of garbage."
- "They're really crazy."
- "Hive is too much for dragging company management to the level of idol controversies... How little legal evidence must there be for them to do this?"
- "I'm wondering if they thought this would work from the start... There doesn't seem to be much solid evidence."
- "It's funny to see them shaking in their boots, trying to vilify Min Hee-jin. They should be ashamed if they get caught in the act. Instead, they're making a fool of themselves."
- "Why is Bang a victim? Are they foolish? Or have they already started cutting tails? lol"
- "Hello, Min Hee-jin. Hello, Min Hee-jin."
- "I knew it would be like this lol They probably didn't respond immediately because it was a member's birthday yesterday."
- "Didn't Park Ji-won say Bang had facial recognition disorder? Seriously... What?" "☞116번 Bang is also the kind of person who would ignore greetings from minors, so they're similar."
- "Hive did a good job with the PR ☞125번 << And now such people are coming out lol"
- "Are they calling Bang a victim, idiot? lol Or have they already started cutting tails? lol"
- Now Bang Si-hyuk is the victim? It's ridiculous, really ㅋㅋㅋㅋㅋ
- Destroyed
- I felt like there would be problems from the moment they brought in people from the entertainment industry who know nothing about the gaming industry.
- What's Park Ji-won? Having meals with analysts and all, seriously ㅋㅋㅋ Why are you doing behaviors that only work in the gaming industry in the entertainment industry??
- Is that not the case? Min Hee-jin made the scenario, so why shift the blame to HYBE?
- [Since HYBE held 80% of the shares, it was a known fact that there was no separate investment method for Audu, so even discussing the topic was not possible.] [If Audu had helped HYBE's management performance, then what's the problem? Have they ever incurred losses?] [Why do the instigators who started the surprise audit and publicized it on a large scale keep trying to shift the blame elsewhere?] Just reading these three sentences is enough. That's the core.
- This company is absolute garbage.
- Min Hee-jin New Jin's Let Audu go.
- I knew this would happen. HYBE's PR is really dirty. Are they really stooping to such garbage levels just to take down one person??
- Park Ji-won used to play politics at Nexon, and Bang Si-hyuk knew that and still brought him in, what's up with that ㅋㅋㅋㅋ
- Bang and Park Ji-won's collaboration. Even when I was a fan of BTS, I hated these two the most. I even left because of the HYBE fanatics who kept shutting people down, but I can't defend them properly. It would be good if they could step back from HYBE's management this time, but they seem too big to do that. Damn.
- There are still stubborn HYBE defenders, so is there any hope left?
- Min Hee-jin, hi.
- So entertainment and gaming have different dynamics, with the driving force being 'affection for people,' so if you run it like the gaming industry, it'll be a disaster. When a new game with a similar style comes out, fans who liked that style might switch over, but idols are people, so that's not possible. What are they doing, running a business without understanding their own industry?
- Min Hee-jin, fighting...
- Min Hee-jin: I don't like excessive values. Min Hee-jin: I just want to proceed fairly. Her mindset is truly admirable.
- Damn, these crazy bastards;;;;;;;;;;;; Min Hee-jin, hi.
- So this person Park Ji-won is from the gaming industry...?
- Kick out Park Ji-won.
- Even though the company stresses them out like that, Min Hee-jin, who made New Jin's a success, is truly remarkable.
- Even if you're disgusted with HYBE, honestly, I'm sick of Min Hee-jin's PR now too.
- HYBE is really stupid. If you want to find a way to survive, start by getting rid of Park Ji-won ㅋ
- Just admit you screwed up ㅋㅋㅋ HYBE is pathetic ㅋㅋ Park Ji-won was originally a guy who bowed down to his superiors in the gaming industry, and he'll do the same at HYBE. Seriously, why are they doing this at the same company? Stop whining and show some restraint, HYBE!
- Stop ruining K-pop and just shut down.
- Without the massive PR blitz from HYBE, all that's left are pathetic excuses and wordplay.
- Get rid of Park Ji-won.
- Even though the company stresses them out like that, Min Hee-jin, who made New Jin's a success, is truly remarkable.
- Seriously, Min Hee-jin can handle it... If Bang Si-hyuk can't, just hand the company over.
- Even though they're playing politics, they're so stupidㅋㅋㅋㅋ It looks like Park Ji-won will definitely get his tail cut off this time. I wish Bang would just hold hands with him and step down. Stop interfering with the labels and let them work independently. If you're going to do whatever you want at the top, what's the point of having a label system? Just one company.
- I hate HYBE, but honestly, I'm tired of Min Hee-jin's PR now too.
- Please, let the mouse defeat the cat.
- This company is insane... Is it okay to treat individuals with such malicious feelings?
- Park Ji-won is like a politician, lol
- HYBE will probably say "It was a misunderstanding" and Park Ji-won will be demoted.
ORIGINAL POST HERE
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