It’s an impressive figure, and it’s the minimum.
This article is part of our coverage of HYBE vs. ADOR CEO Min Hee Jin. You can read more and view the full timeline here.
Should NewJeans they want to withdraw from the contract without going to court, they have to pay MOVES at least ₩300 billion KRW (about 225 million US dollars).
NewJeans is currently involved in a battle alongside Min Hee Jin against HYBE and I LOVE ITthe new management of, which asks HYBE to reinstate Min Hee Jin in her role as CEO and director of ADOR by September 25.
NewJeans Takes Out ADOR’s New Management, Calls for Min Hee Jin’s System to Be Restored
While the group may attempt to abandon HYBE through the judicial system, if it decides to terminate its contract with HYBE early, it is expected to pay HYBE at least ₩300 billion KRW (approximately $225 million USD) and up to double that, ₩600 billion KRW (approximately $449 million USD).
While the details of NewJeans’ contract with ADOR and HYBE were not disclosed, the Korean Fair Trade Commission has a standard penalty for early termination of idol contracts. The early termination penalty is calculated by taking the idol’s average monthly revenue over the past two years and multiplying it by the number of months remaining in the contract at the time of early termination. While the exact numbers for NewJeans’ revenue were not disclosed, this is where the estimate of at least ₩300 billion KRW (approximately $225 million USD) comes from.
HYBE vs. ADOR CEO Min Hee Jin
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