The property could be worth nearly 1 billion won.
Koreaboo
This article is part of our coverage of HYBE against ADOR CEO Min Hee Jin. You can read more and view the entire timeline here.
SR times reported that ex I LOVE IT CEO Min Hee Jin his property was placed under provisional seizure by the court after a creditor filed a compensation claim of ₩100 million KRW (approximately $71,500 USD).
The concrete reason for the creditor’s claim is not yet known. According to SR Times, the court had heard the creditor’s request on September 23.
A seizure order is a legal process that allows the creditor to take possession of the debtor’s property until the debt is paid or a judgment is entered. Generally, this process can take several months. Creditors often require this to prevent debtors from disposing of assets during this period.
The property in question was purchased by Min Hee Jin in 2011 for ₩387 million KRW (approximately $277,000 USD). However, given its location in Yeonnam-dong, the property value is estimated to have increased compared to 13 years ago. Data from KB real estate indicates that the average market price for a home in the area is currently around ₩985 million KRW (around $705,000 USD).
Although the reason for the creditor’s provisional request is unknown, Korean media pointed out that Min had previously mentioned his difficult financial situation. According to SR Times, Min talked about this during her appearance as a speaker at the 2024 Hyundai Card Da Vinci Motel event on September 27th
The legal fees amounted to KRW 2.30 billion (about $1.64 million)… I may have to sell my house due to these legal fees.
—Min Hee Jin
Since the beginning of this year, Min Hee Jin has been famously involved in a legal feud with him MOVES and its subsidiary BeLift Laboratory. It remains to be seen whether ADOR’s former CEO will face seizure of the property.
HYBE vs. Min Hee Jin, CEO of ADOR
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