‘HYBE's sins,’ ‘Project 1945’: Hostile documents get ADOR CEO reported to police

Min Hee-jin, left, producer of girl group NewJeans and CEO of its agency ADOR [ADOR]

HYBE will report ADOR CEO Min Hee-jin to police on Thursday after finding evidence that the NewJeans producer tried to hijack ADOR's control from HYBE, the BTS agency said on the same day.

The statement came three days after HYBE began an audit of ADOR on Monday morning to secure proof that the label's managers were attempting to break free from the main label.

HYBE questioned insiders of ADOR, one of whom handed in data to prove that Min conspired against HYBE and ordered the staff to gather hostile information about the BTS agency. Min ordered ADOR executives "to find ways to push HYBE into selling its shares of ADOR," the informant said.

The informant handed in "detailed evidence" that Min tried to seize management rights over ADOR and contacted a potential investor to help her gain control over the label. Min had previously denied to the local press that she met outside investors.

A truck with LED screen drives around HYBE's headquarters in central Seoul on Wednesday with messages demanding ADOR CEO Min Hee-jin stops using the agency's girl group NewJeans in her conflict with HYBE. [NEWS1]

Specific methods were discussed by Min and the execs, HYBE said, which included terminating NewJeans members' contracts with ADOR and terminating Min's contract with HYBE.

"Their conversations included subjects such as 'getting international money and making a deal with HYBE,' 'making critical appeals about everything that HYBE does,' and 'coming up with ways to harass HYBE,'" according to HYBE.

"They also made plans to 'get ready for a fight involving the press in May' and 'make ADOR an empty shell and take it out,'" the company said.

HYBE also released a KakaoTalk conversation between ADOR's vice CEO and CEO Min Hee-jin that took place on April 4 at around 5 p.m.

A KakaoTalk conversation between ADOR's vice CEO, on right in yellow, and CEO Min Hee-jin, left in white, was disclosed by HYBE on Thursday morning. The message in yellow reads, ″We have these options,″ listing a series of methods to take control over ADOR by exercising Min's put option, leaving ADOR ″an empty shell,″ get a financial investor, ask HYBE to sell ADOR, sell ADOR and sign a new deal with a different company. To that, Min answered, ″Wow.″ [SCREEN CAPTURE]

The message in yellow in the picture reads, "We have these options," listing a series of methods to take control over ADOR by exercising Min's put option, leaving ADOR "an empty shell," getting a financial investor, asking HYBE to sell ADOR, selling ADOR and signing a new deal with a different company.

The informant admitted to writing a file containing the words, "Ultimately escape HYBE," but said that the words came from Min and they only "wrote them down."

Through the audit, HYBE has found documents titled "HYBE's sins," "Project 1945," and more, containing hostile information against HYBE to use as leverage as well as plans to break free by finding an overseas investor. The number 1945 likely symbolizes the year that Korea became independent from Japanese colonial rule between 1910 and 1945.

The "1945" document was found in ADOR vice president's emails. Min has not handed in her laptop to HYBE yet.

Girl group NewJeans [ADOR]

A day earlier, ADOR sent a formal response to HYBE's set of questions just minutes before the Wednesday 6 p.m. deadline. ADOR warned legal measures should the content of the letter be made public, according to HYBE.

HYBE requested that ADOR open a board meeting on Tuesday, April 30. Should the board members refuse to comply, then HYBE is likely to file a request to the court for it to open up an ADOR shareholders meeting. A court decision typically comes after four to five weeks, after which ADOR will get 15 days to open the shareholders meeting and board meeting.

HYBE CEO Park Ji-won apologized for concerning the fans, artists and the constituents of HYBE for the "mishap that took place in the process of refining the multilabel system," while also promising to keep supporting NewJeans in the future.

"We promise to prioritize the mental recovery and emotional stability of our artists, who are the most precious assets in K-pop, now that the situation has settled for the time being," he said in a press release.

NewJeans has one Korean single scheduled for May 24, a Japanese single and two concerts at Tokyo Dome in June. The quintet also announced an album within the latter half of the year and a world tour set to begin next year.