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■ Below is the full text of the statement from former Adore CEO Min Hee-jin
Hello. This is Min Hee-jin.
I am resigning from my position as an inside director of Adore today.
We also intend to terminate the shareholder agreement with Hive and hold Hive legally responsible for breach of the shareholder agreement.
In addition, we will take necessary legal action one by one against the numerous illegal acts committed by Hive and its associates.
Even in the midst of the hellish conflict with Hive that has lasted over 7 months since Hive's illegal audit in April, I have done everything I could to keep the shareholder agreement and return Adore to its pre-April state. However, Hive has not admitted its wrongdoings and has shown no signs of changing, so I have decided that further efforts are a waste of time.
I wanted Hive to admit its own wrongdoings and worked hard to protect New Jeans within the crooked Hive. That's why I sent out internal whistleblowing emails twice in April.
However, instead of reflecting, Hive has committed an unprecedentedly foolish act of fabricating absurd false facts and displaying the shameful illegal audit to the public. They have framed me, a minority shareholder and CEO, as a “usurper of management rights” and have launched a witch hunt, making ignorant and absurd attacks that are hard to believe for a large corporation.
After many twists and turns, after a full seven months, it has finally been revealed that my whistleblowing was a legitimate accusation based on clear facts, while Hive's ugly lies and hypocrisy are being revealed one after another.
In fact, Hive must have known from the beginning that the contents of the whistleblower's report were true and that it was a legitimate issue.
However, for those who only care about their own interests and glory, the essence of 'problem solving' must have been a task they wanted to avoid more than anything else.
I didn't expect them to repent, but I think it was a naive misjudgment to believe that they would have at least a minimal amount of conscience as human beings.
But just as you can't live just because you have breathing, I didn't want to settle down and join this twisted organization just for the sake of money.
Until recently, HYBE has been using its subordinate labels to file unreasonable lawsuits, find fault, and play the media unfairly in an attempt to bury me, while at the same time pushing me with a producing contract full of toxic clauses as if it were an enormous favor, continuing its hypocritical and contradictory behavior.
While suggesting that we should have an R&R agreement, which is the essence of a business delegation agreement, they insisted on a face-to-face meeting only, insisted on a confidentiality agreement that included incomprehensible requirements such as consent to forensic examination prior to the agreement, and repeated incomprehensible claims that they could not provide R&R documents.
It is no longer surprising that those who spread false information to the media that a CEO had resigned from his position and taken over producing duties, despite having unilaterally fired him, are now demanding that others "keep it a secret."
The 24 years of atrocities committed by HYBE will go down in history as an unprecedented event in K-pop.
For the past seven months, I have fought with all my might, mentally, financially, and physically, to revive Adore, which was ruined by Hive's serious breach of the shareholder agreement.
It means that they did not back down and made great efforts even though it was a hellish fight that started with groundless violence by a group disguised as a large corporation.
Hive's moral decay has already reached its peak, and the dirty media play will continue, but I am not worried that it has now reached a point where even the public can read the pattern.
However, we would like to inform you that if there are any forces or media that are trying to slander you, we will never sit idly by and will punish them with the law.
Although this extraordinary event is not over yet, I would like to express my heartfelt gratitude to Bernie and many others who have tirelessly supported and cheered us on for nearly half a year.
Ironically, it was my special fortune to get to know the best people through fighting against the worst companies.
Some people may not understand why I endured this much, but there must be a reason and meaning for people like me to exist in the world.
I hope you will continue to show a lot of interest in my new K-pop journey that will unfold in the future.
I conclude my writing by saying a few words to someone with a relieved heart.
“It should not be the case that one person’s malicious actions damage the ‘nature of karma.’ It was really bad.”
Min Hee Jin + New Jeans NEVER DIE!!!!!!!!!!!!!!!!!!