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Photo = HYBE |
[Alpha Biz= Reporter Kim Minyoung] Min Hee-jin, the representative of ADOR, has been confirmed to have contacted Naver and Doo Namoo in an effort to secure management rights. Naver and Doo Namoo have acknowledged meeting with Min Hee-jin from HYBE.
According to investment banking (IB) and legal sources on the 17th, Min Hee-jin met with a representative from Doo Namoo, Mr. A, and a representative from Naver to propose the acquisition of ADOR. It is reported that Min Hee-jin made statements to Mr. A such as "Pressure HYBE to hand over ADOR." Doo Namoo holds a 5.6% stake in ADOR and is one of the three major shareholders with the right to appoint directors.
The fact that Min Hee-jin contacted Naver and Doo Namoo was revealed during HYBE's audit of Min Hee-jin's side. Previously, HYBE confirmed that Min Hee-jin's side illegally downloaded business secrets, such as dividend information for artists and regional income that only HYBE can manage, and began an internal audit on April 22nd. This was to investigate Min Hee-jin's attempt to attract external investors and sell HYBE's stake in ADOR, known as an 'usurpation of management rights.'
Currently, HYBE holds an 80% stake in ADOR, while Min Hee-jin holds 18%.
AlphaBIZ Kim Minyoung(kimmy@alphabiz.co.kr)
