[theqoo] NEWJEANS, WHY DID RUMORS OF CONTRACT WITH 350'S AGENCY 'BANA' CIRCULATE?... MIN HEEJIN "THE CEO IS MY EX-BOYFRIEND, I PLANNED TO GIVE HIM PART OF MY PUT OPTION"

On that day, HYBE’s attorney asked, “Did you intend to use BANA to circumvent the non-compete clause?” Min Heejin answered, “Absolutely not.”

Regarding the mention of BANA and former Kakao CEO Kim Sunggoo, Min emphasized, “That was a KakaoTalk message from April 2021, when I had no connection to BANA. It has nothing to do with the shareholders’ agreement, and it was before ADOR was even established. At the time, I had not entered into any business relationship with BANA, nor did I hold any shares in it. There is absolutely no relevance.”

Previously, during the dispute over NewJeans’ exclusive contract termination with ADOR, reports surfaced claiming that the members would sign an exclusive contract with BANA. At the time, the members’ side denied this, calling it “completely untrue.”

Min stated, “At the time, BANA was in a contractual relationship with ADOR. There was no evidence of contact. Articles were written by cherry-picking KakaoTalk messages to frame me. The fact that those articles were labeled as exclusives suggests someone fed the information. I wondered where it came from, and today I realized how it surfaced.”

She continued, “I wanted to nurture the music label BANA, so I introduced it to Bang Sihyuk. But it was dropped. Since CEO Kim Sungsoo had been trying to recruit me, I contacted him, and even suggested that they invest. But the situation changed rapidly. If you apply reasoning retroactively, it’s like saying Bang Sihyuk told people to ‘crush’ a certain girl group, and when that girl group later has problems, people claim it must have been orchestrated by him. That kind of leap in logic is absurd.”

Most notably, Min revealed that Mr. Kim, the CEO of BANA, is her former boyfriend. Regarding her statement that she would give him part of her put option, she said, “I wrote that document of my own free will. I said that if I received the put option payout, I would give him a portion.”

She explained, “He is not my current boyfriend, and Kim Kiwon is an extremely capable person. He is the producer of all of NewJeans’ songs. It was impossible to give someone like that a token stock option. He deserved compensation, but since it couldn’t be paid with company funds, I decided it was acceptable to give it from my own share.”

source: https://m.entertain.naver.com/home/article/311/0001954065

original post: here

1, What in the world?

2. This is definitely breach of trust

3. Seriously, I don't want to see her ever again ㅋㅋㅋ

4. Her ex-boyfriend was really capable, and that Dolphiner guy is also very capable ㅎㅎㅎㅎㅎㅎㅎ She thinks only men are capable

5. I wonder if it's even legitimate to fire someone through digging into their Katalk history? I hope she knows we're supporting her

6. Interesting, but what's worse is what TAG PR did to her, yet nobody is ever mentioning it

7. Stop this attempt at creating hate bandwagon. Min Heejin fighting

8. The way they forced her to reveal who her ex-boyfriend is is even weirder

9. Why are people cheering on Min Heejin just because she's a female? The feminists here will always defend everything through feminism, but you guys are honestly fools

10. Wow f*ck you guys are such boy crazies

[theqoo] MIN HEEJIN, ACCUSED OF EXCESSIVE FAVORITISM TOWARDS EX-BOYFRIEND "30M WON PER MONTH EVEN WITHOUT WORKING... DOUBLE NEWJEANS' SETTLEMENT MONEY"

Allegations have been raised that former ADOR CEO Min Heejin provided excessive preferential treatment to her ex-boyfriend. The claim is that she entered into a contract highly favorable to Kim, the CEO of BANA, who was both her romantic partner and responsible for NewJeans’ music production.

On the 18th, during a hearing at the Seoul Central District Court’s Civil Division 31 concerning HYBE’s lawsuit to terminate the shareholders’ agreement and Min’s lawsuit over the exercise of her put option, HYBE raised suspicions that Min had granted excessive benefits to her former partner. HYBE argued that Min may have entered into a one-sidedly favorable contract with Kim due to their romantic relationship.

During witness questioning, HYBE presented a service contract related to the N Team (NewJeans). According to the contract, ADOR paid BANA 33 million won per month, and additional labor costs were also paid to Kim and others.

Additionally, BANA was entitled to an incentive of 5% of total album sales revenue in the release year. Under this contract, BANA reportedly received service fees in 2022 amounting to twice the total settlement paid to all NewJeans members combined. HYBE claimed that despite ADOR recording an operating loss in 2022, BANA received more money than NewJeans under the service agreement.

HYBE’s legal representative pointed to an email sent by ADOR’s vice president to Kim, stating that:

- Kim’s salary exceeded Min Heejin’s salary,
- It was among the highest levels in the entertainment industry,
- The 5% album revenue incentive was at the maximum level within HYBE.

HYBE further argued that the contract appeared to have been concluded without board approval.

It was also revealed that Min had written a pledge stating that she would give Kim a portion of the proceeds she expected to receive from exercising her put option under the shareholders’ agreement. The contract with BANA was later amended in a way more favorable to Kim. Initially, BANA was to receive 5% of album revenue for release-year sales; this was changed so that Kim personally would receive 3% of cumulative album sales, including past releases. As a result, annual incentives reportedly increased from approximately 400M won to 1B won.

HYBE argued that under the revised contract, ADOR would be required to pay Kim substantial incentives even if BANA performed no work.

Min acknowledged both her romantic relationship with Kim and the contract terms but argued that the agreement was based on his ability, not favoritism. She stated, “He was highly capable, and I believed he could change the world. The compensation was not excessive compared to industry standards.” She added, “To work long-term with talented people, it’s only fair to provide motivation and compensation that matches their abilities.”

When questioned about whether the BANA contract had gone through the board, Min initially claimed it had. After further questioning by HYBE, she changed her statement, saying she believed HYBE’s former CEO had approved it, implying a verbal agreement. When pressed again on whether there had been a formal board resolution, she replied, “I don’t remember.”

Regarding her decision to share her put option proceeds with Kim, Min insisted it had nothing to do with their romantic relationship, reiterating that she simply wanted to properly compensate a talented producer.

It was also revealed that the recipient of an email sent externally containing KakaoTalk messages involving a shaman was Kim, the CEO of BANA. Min claimed she did not send the email herself and was unaware of it.

[...]

The court plans to hold one additional hearing on January 15 next year.

source: https://n.news.naver.com/article/011/0004569009?sid=102

original post: here

1. Boy crazy

2. So she was boy crazy...

3. Min Heejin claimed to be NewJeans' mom... But she was a daddy's girl

4. I want to be Min Heejin's boyfriend too

5. She's the most boy crazy person I've ever seen

6. Women: Min Heejin's existence is feminism!!!!
Min Heejin:

7. So she turns out to be freaking boy crazy. I got turned into a f*cking r*tard for supporting you

8. I bet NewJeans didn't know any of this right? ㅋㅋㅋㅋ