On the morning of the 12th, the 31st Civil Division of the Seoul Central District Court (Presiding Judge Nam In Soo) held a sentencing hearing for two lawsuits: HYBE’s request to confirm the termination of its shareholder agreement with Min Hee Jin, and Min Hee Jin’s request requiring payment of shares under its put option. Ultimately the court ruled in favor of Min Hee Jin.
In particular, the court ruled that Min Hee Jin’s decision to raise suspicions that ILLIT had plagiarized NewJeans and to accuse the company of “promoting albums” was justified.
Regarding the issue of plagiarism, the Court stated: “According to reports, the results obtained by ILLIT immediately after their debut showed many similarities with the image of NewJeans. Parents of NewJeans members also filed a petition regarding this matter. These opinions reflect views on similarities and cannot be considered as factual misrepresentations. Belift Lab has not presented further evidence to demonstrate that the two sides are dissimilar and the dispute cannot yet be considered fully resolved.”
The Court further stated: “Raising the issue that ILLIT copied NewJeans cannot be viewed as a serious breach of duty. The suspicions raised by Min Hee Jin are considered personal opinions rather than statements of fact, and therefore do not constitute dissemination of false information. As CEO of ADOR at the time, his decision to raise doubts about the similarities in order to protect the value of NewJeans was a managerial judgment made within the scope of his authority to safeguard the company’s interests.”
Meanwhile, the 31 Civil Division of the Seoul Central District Court rejected HYBE’s lawsuit seeking confirmation of the termination of the contract and instead ordered the company to pay Min approximately ₩25.5 billion (about $19 million).
The case centers on a put option clause in Min’s shareholder agreement, which allows it to resell its ADOR shares to HYBE under certain conditions.
Sources: Netizenbuzz
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