Former ADOR CEO Min Hee-jin has prevailed in the first-instance trial of her civil lawsuit against HYBE over put options worth around 260 billion won. The Seoul Central District Court ordered HYBE to pay her approximately 25.5 billion won.
Court Delivers Verdict in Favor of Min
On December 12, the court’s Civil Division 31, presided over by Judge Nam In-soo, sided with Min Hee-jin, current head of Okeh Records. The ruling came after HYBE contested the payout amount in the dispute surrounding the put options and shareholder agreement.
HYBE submitted evidence reflecting adjustments for the shareholder agreement termination, weekly stock price fluctuations, and settlements from Min’s stock trades. The court, however, dismissed these arguments and upheld Min’s valuation.
Key Factors in the Decision
The judgment focused on the timing of the shareholder agreement termination and the circumstances justifying Min’s put option exercise. Officials confirm the court viewed her exercise demand as valid, rejecting HYBE’s claims of reduced value based on 2024 economic conditions and internal findings.
This outcome affirms the original put option terms amid the ongoing tensions between the parties.
