He could make millions.
Min Hee Jin announced his resignation from I LOVE IT on November 20, 2024. He wrote a heartfelt statement, explaining his decision. She will no longer serve as director of ADOR.
Former ADOR CEO Min Hee Jin resigns from ADOR and HYBE
Not only that, but Min Hee Jin also submitted a request to cash out his put options. A put option allows you to sell your shares at a specific price or before a specific date. He filed an appeal with the Seoul Central District Court on the same day as his resignation.
Min Hee Jin will be able to earn profits even after leaving the company this way. If he exercises his put options according to his shareholder agreement, he will be able to receive an amount equivalent to 75% of his stake in HYBE, or 13 times the average operating profit of the last two years.
According to audit reports from April 2024, Min Hee Jin owns 573,160 shares of ADOR, a total of 18%. It will be able to receive approximately KRW 25.8 billion (approximately $18.5 million) through put options. Min’s decision surprised some, as if he had chosen to file in early 2025, he could have collected a larger amount due to the operating profit band applied.
The court may or may not grant Min’s request, as Min’s contract has already been terminated.
