Don’t Break Up NewJeans, and I’ll Forfeit $18M Payout, Says Ex-K-Pop Boss
11 hours ago
Share: Kelly Ng and Hosu Lee, Seoul
Min Hee-jin, the former head of NewJeans’ record label, has made a dramatic offer: she will relinquish a payout of 25.6 billion won (approximately $17.9 million or £13.2 million) if entertainment giant Hybe ceases all legal actions against the K-pop group.
A Call for Unity
Min expressed her distress, stating she can no longer bear to watch as NewJeans is torn apart. She believes that the five talented members deserve to be standing happily on stage instead of embroiled in legal battles.
Key Points:
– Hybe had earlier terminated the contract of NewJeans member Danielle Marsh, leading to a lawsuit for breach of contract and damages.
– Following Min’s dismissal from her role as CEO of Ador—Hybe’s subsidiary that manages NewJeans—the group has been locked in a contentious feud with its label.
– The members announced their intent to leave Ador in the wake of Min’s exit, but a South Korean district court ruled last October that they must adhere to their contract, which is valid until 2029.
Legal Developments
In a notable ruling earlier this month, a court sided with Min in a dispute concerning a put option with Hybe, ordering the company to pay her the aforementioned 25.6 billion won. This put option allows Min the right to sell an asset at a predetermined price on a future date, which has become a contentious point in her negotiations. Hybe, however, has filed an appeal against this ruling.
Min’s Message
I’m here because there are values I desperately want more than a large sum of money, Min asserted on Wednesday, emphasizing that NewJeans was her primary motivation for giving up the payout. She has called for the withdrawal of all ongoing civil and criminal lawsuits against NewJeans members, external partners, former Ador employees, and fans involved in the conflict.
Only then will the artists, their families, and their fans be free from further unnecessary noise, she expressed.
A Global Fan Response
Hybe has yet to address Min’s proposal. NewJeans, who have quickly risen to become the eighth biggest-selling act globally just a year after their 2022 debut, are celebrated for their innovative fusion of 1990s R&B and catchy pop melodies. The ongoing feud has sent shockwaves through the K-pop community, prompting fans worldwide to advocate on social media, urging the agency to free NewJeans.
It’s not fair at all. Free NewJeans [all 5 members], one fan remarked on Instagram following Marsh’s termination last year. All they wanted to do was to be [artists] and make their fans happy.
The Path Forward
Min concluded her statement by addressing Hybe’s chairman, Bang Si-hyuk: Let us now meet not in the courtroom, but in the space of creation. Her heartfelt plea resonates with many, underlining the importance of unity over division in the world of K-pop.