On the 25th, CEO Min Hee-jin held an emergency press conference at the Korea Convention Center in Seocho-gu, Seoul, on a suspected breach of trust related to an attempt to seize management rights from Hive, and it revealed a KakaoTalk message she shared with Hive Chairman Bang Si-hyuk. /News 1
Hive launched a direct rebuttal to cover Adore CEO Min Hee-jin’s press conference. Hive initially said it would not issue a separate statement regarding Min’s press conference allegations, saying, “It’s not worth responding to.” However, as CEO Min Hee-jin’s press conference became a hot topic and negative public opinion about Hive grew, it appears that the company took active action late.
On the 26th, Hive refuted CEO Min’s claims one by one by organizing them into a total of 12 items, saying, “We would like to accurately state the facts regarding the comments made by CEO Min at the conference to the press to protect shareholder and intellectual value. property (IP).” .
First, regarding the claim that the seizure of management rights was a joke or a joke, he said, “There are entries in the chat logs and work logs of discussions that are held for the same purpose over several months,” and “Co -go with him. through third party intervention on several occasions over a long period of time.” “If that happens, it will no longer be Saddam, but it will be the plan and its execution.”
Regarding the claim that the financial compensation for CEO Min was small, “CEO Min claimed that his annual salary was 2 billion earned.” “More precisely, the incentive for performance in 2023 is 2 billion won, and the annual salary and long-term incentives are set separately.” “This is by far the highest salary position among members of Hive headquarters and Korean subsidiaries.”
Hive said, “In addition to the annual salary, we provided a huge stock compensation,” adding, “The value of the stock is a large amount that is difficult for ordinary people to imagine. However, CEO Min brought the conversation to a breakdown by suggesting again an amount that the company could not accept. “Our company sees this process as building a justification for management independence,” he said.
Hive emphasized that the ‘slave contract’ that CEO Min mentioned was not true either. In a press conference the previous day, CEO Min Hee-jin mentioned the ‘contract between shareholders’ and claimed, “It’s a trap for me,” and “It’s like a slave contract.”
Hive said, “CEO Min himself said, ‘I can make 100 billion earn just by sitting still,’ and the condition of guaranteeing a large amount of money and being able to exchange it for cash and start a business cannot next year never. called a slave contract,” adding, “It’s a contract that ordinary people can’t even imagine.” “These are unprecedented compensation conditions,” he said.
As for the claim that Hive is only negligently promoting New Genes, he said, “We wrote and distributed 273 press releases for New Genes alone in the last year,” and added, “ Big Hit Music, which has a total of 8 active teams. as groups and individuals, including BTS, “Even if we compare the 659 cases with the 365 cases of Pledis Entertainment, which had 4 teams including Seventeen, it is difficult to claim that ‘New Genes PR is just being neglected,’” he said.
Regarding the claim that shamans are just friends, he said, “Outside personnel who interfere closely in the general management cannot be considered simple friends,” and “The amount of stock options of executives that were not disclosed during the conversation, the names of potential investors, and the share ratio for each investor was recorded, “Structures, etc. go back and forth, and decisions have been made based on the shaman’s suggestions on various management issues.”
Hive Chairman Bang Si-hyuk (left) and Adore CEO Min Hee-jin (right). /News 1
Hive said, “These chat partners cannot be considered mere acquaintances,” adding, “The company takes seriously the fact that important information about the company has been indiscriminately exposed to people from the outsiders other than the company’s officers, have interfered with decision-making, and received applications for jobs.” “He said. Hive previously claimed that CEO Min had been carrying out major company management matters, such as personnel and recruitment, after consulting female shamans, but CEO Min denied this.
At the same time, Hive said, “For many years, our company has accepted and compromised with CEO Min’s repeated demands, but this time, we learned that these demands are a ‘construction’ process as it called to seize control rights,” adding, “Regardless of time, we will continue to recognize the value of multi-labeling.” “I had no choice but to go on an inspection to protect him,” he said.
Meanwhile, Min Hee-jin, CEO of ‘Adore’, the agency of the women’s group New Jeans and associated label Hive, became a hot topic by pouring out harsh words towards Hive during a live press conference on the 25th.
CEO Min Hee-jin, who was suspected of stealing management rights, said at a press conference, “Mr. Dog,” “Youngboy,” “Ji Harsh’s comments were poured out. Afterwards, the phenomenon of Min Hee-jin fandom appeared online, with the T-shirts and hats that CEO Min wore at the press conference being sold out.
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