HYBE Responds to ADOR CEO's Allegations on Compensation Dispute

In response to ADOR CEO Min Hee Jin's claims of inadequate compensation, HYBE Labels has issued a statement addressing the allegations. According to HYBE, Min's total earnings, including substantial salary and performance incentives, surpass norms even within the company's high-ranking echelons.

The statement detailed Min's compensation package, citing a substantial salary of KRW 2.00 billion (about USD 1.46 million), including a performance incentive for 2023. This places Min's earnings at the forefront among all HYBE headquarters and subsidiary employees in Korea.

“CEO Min claimed a salary of ₩2.00 billion KRW (about $1.46 million USD). More precisely, this includes a ₩2.00 billion KRW (about $1.46 million USD) incentive for the performance in 2023, separate from the salary and long-term incentives.”

This ranks first among all employees of HYBE headquarters and its subsidiaries in Korea.”

Moreover, HYBE highlighted the inclusion of stock options or awards in Min's compensation, emphasizing their significant value, which may be incomprehensible to the general public.

“HYBE has also provided significant stock compensation, the value of which is unimaginable to the general public.”

Despite the substantial compensation provided, tensions arose over financial terms between Min and HYBE, leading negotiations to an impasse. HYBE cited Min's demands exceeding what the company could accept, resulting in a stalemate.

Furthermore, HYBE interpreted Min's compensation dispute as one of the factors indicating her attempt to take over ADOR's management rights and establish it as an independent entity. The company concluded by asserting their perception of Min's actions as a move towards independent management.

The statement sheds light on the complexities of the compensation dispute between Min Hee Jin and HYBE, underscoring the company's stance on the matter and its implications for ADOR's future management.