Min Hee-jin relinquishes share sale rights worth 25.6 billion won for NewJeans

Jakarta (ANTARA) - Businesswoman Min Hee-jin is willing to relinquish her share sale rights (put option) in ADOR, worth 25.6 billion won (approximately $17.7 million), to urge HYBE to reconcile with NewJeans and withdraw all legal claims against its members.

She also requests HYBE to drop legal actions against former ADOR employees and fans if her peace offering is accepted.

“The 25.6 billion won is not more valuable than restoring a healthy K-pop ecosystem,” said Min Hee-jin at a press conference attended by reporters from the Korean daily Joong Ang, as reported by Malay Mail on Wednesday.

She urged HYBE to create an environment where NewJeans members can freely pursue their dreams.

On the occasion, Hee-jin also announced that she had relinquished her position as Chief Executive Officer of ADOR and is now focusing on building an independent label called ooak Records to nurture new music artists.

She also discussed the amendment to the Commercial Act in July 2025, which is considered to strengthen fiduciary duties to shareholders.

Therefore, according to Hee-jin, reconciliation is a wise decision at a time when the South Korean economy is in good health (the KOSPI index has exceeded 6,000).

In addition, there is also a lawsuit between ADOR and NewJeans, which was decided in favor of ADOR, and issues with other labels under HYBE, Belift Lab and Source Music, have not been resolved.

Translator: Abdu Faisal