HYBE and Ador CEO Min Hee Jin Face Off Amid Management Audit

HYBE, the major shareholder group of Ador, has called for the resignation of Ador CEO Min Hee Jin. This request follows an internal audit initiated by HYBE, which is said to have raised concerns about Ador's management and operations. The audit is believed to be a reaction to perceived attempts by Ador to assert its independence from HYBE. If Min Hee Jin, who has been with Ador since its inception and previously worked at SM Entertainment, refuses to step down, HYBE has indicated that it may pursue legal action.

In addition to requesting Min Hee Jin's resignation, HYBE has called for a shareholders' meeting to address these issues and potentially appoint an additional director from HYBE to Ador's board. The current board consists of two internal directors who have longstanding professional ties with Min Hee Jin. Tensions between the two entities have escalated amid accusations from HYBE's audit team that Ador's CEO and another unnamed executive have leaked confidential information with the intention of attracting outside investors and persuading HYBE to reduce its stake in the agency. Ador, a subsidiary founded by HYBE in 2021, is currently held at 80% by HYBE, with Min Hee Jin and other Ador executives holding the remainder.