The plaintiff asked, “Has BANA been providing exclusive A&R services to ADOR from the time of ADOR’s establishment until now?” “Is it a company founded by Kim Kihyun?” and “After ADOR was established, did ADOR acquire the trademark ‘ADOR’ from Kim Kihyun in 2021?”
Former CEO Min answered that all of these statements were true.
The plaintiff continued, “During the negotiations for the trademark assignment agreement, it was discussed with Kim Kihyun that the trademark transfer price would be set at 17M won. Then, not long afterward, although internal coordination was not easy, there was a conversation with ADOR’s vice president at the time stating that ‘Heejin put in a lot of effort, and we were able to finalize the deal according to the conditions she sent,’ and that the transfer price became 100M won.”
Min confirmed, saying, “That is correct. The 17M won was only a partial amount, and within the total 100M won, there were much more favorable conditions than those given to other internal partners. It also included provisions for logo usage and the use of the designer, so the total amount of 100M won can be shown to be reasonable when compared with design service fees paid to other companies, excluding HYBE.”
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