New Jeans ADOR, the agency and HYBE having problem?
HYBE, Korea’s leading entertainment company, has launched its audit rights after finding out the circumstances in which its subsidiary, Ador executives have attempted to take over management rights.
According to the entertainment industry insiders on the 22nd, HYBE has started an audit of executive A and others. HYBE’s audit team reportedly visited the business area of the ADOR’s management on the morning of the day to retrieve the company’s computer assets and secure face-to-face statements.
HYBE is said to have identified the circumstances in which A (Ador executive) and others have made and implemented plans to take over management rights. Currently, HYBE owns 80% of Ador’s stake and the remaining 20% is held by Ador’s management.
An industry official said, “It is understood that A used his position to hand over internal information of HYBE to Ador,” adding, “A is suspected of handing over trade secrets necessary for Ador’s independence from his tenure at HYBE.”
What would HYBE do?
Accordingly, HYBE plans to take legal action if necessary based on the secured computer assets. Ador is a company created by HYBE in 2021 with a capital of 16.1 billion won. Currently, Min Hee-jin, a former SM Entertainment member who oversaw the production of the popular girl group New Jeans, is the second-largest shareholder. New Jeans Ador idol’s activity might have red light, if the legal actions take long.
Previous articles about New Jeans, New Jeans Daneille’s sister is Gyuna?, CLICK HERE.
ADOR audition team instagram https://www.instagram.com/alldoorsoneroom/
