Former ADOR CEO Min Hee Jin has secured a major legal victory against K-pop giant HYBE, with a Seoul court ordering the company to pay approximately 25.5 billion KRW (about $18 million USD/Php 1.044 Billion) tied to her exercised put option. The ruling marks a significant turning point in the high-profile corporate dispute that has unfolded publicly since 2024.
On February 12, 2026, the Civil Division 31 of the Seoul Central District Court determined that Min’s exercise of her put option under a shareholder agreement with HYBE was valid. The court rejected HYBE’s claim that the agreement had been lawfully terminated due to an alleged breach of trust and ordered the company to cover the full payout along with all legal costs.
The contested put option allowed Min to sell her shares back to HYBE based on a formula equal to 75% of ADOR’s value, calculated by multiplying the label’s average operating profit over the previous two fiscal years by 13. The court noted that the option’s projected value after 2025 could reach around 100 billion KRW, highlighting the financial weight of the dispute.
The conflict began publicly in April 2024 when HYBE — home to global acts including BTS, LE SSERAFIM, SEVENTEEN, ENHYPEN, ILLIT, and more — launched an internal audit of ADOR, accusing Min of attempting to seize control of the label and its flagship group, NewJeans. Min countered with a widely viewed press conference, alleging unfair treatment and arguing that HYBE had undervalued the company she built.
HYBE terminated the shareholder agreement in July 2024 and dismissed Min as CEO two months later. In November, Min announced her intent to exercise the put option and filed suit when payment was not made. HYBE maintained that it had invested approximately 21 billion KRW in launching NewJeans and presented internal communications as evidence of Min’s alleged misconduct. However, the court sided with Min, noting that HYBE’s 80% ownership stake made any takeover structurally implausible.
In NewJeans-related news, it was officially confirmed by HYBE that members HAERIN, HYEIN, and HANNI will continue their activities with ADOR, with MINJI still currently undergoing negotiations, while DANIELLE has been kicked out of the group. Min also recently announced the launch of her new agency, titled OOAK.
Though the ruling represents a major financial win for Min Hee Jin, broader legal battles between the parties — including additional civil claims and damages lawsuits — still remain ongoing.