Enlarge photo After hearing Adore CEO Min Hee-jin’s press conference, Hive launched a direct rebuttal. [사진출처 = 인스타그램]
After hearing Adore CEO Min Hee-jin’s press conference, Hive launched a direct rebuttal.
Hive initially said it would not issue a separate statement regarding Rep. Min’s press conference, saying it was “not worth responding to.”
However, as the content of CEO Min’s press conference became a daily hot topic, it is interpreted that they took active action out of concern that negative public opinion towards Hive would grow.
On the 26th, Hive refuted CEO Min’s claims in detail by organizing them into a total of 12 items, saying, “We would like to accurately state the facts regarding CEO Min’s comments in the press conference to protect shareholder value and intellectual property.”
In response to Representative Min’s claim that taking over control rights was a joke and Saddam, Hive explained, “If a third party intervenes several times over a long period of time, it is no longer Saddam, but a plan and its execution.”
Regarding the claim that the financial compensation is small, “CEO Min said his annual salary is 2 billion won,” and “Specifically, the incentive for performance in 2023 is 2 billion won , and the annual salary and long-term incentives set separately. “This is by far the highest salary position among members of Hive headquarters and Korean subsidiaries,” he countered.
Hive, who provided huge stock compensation in addition to an annual salary, explained, “The value of the stock is so great that it is hard for ordinary people to imagine.”
However, CEO Min claimed that the company led the conversation to a breakdown by again suggesting an amount that could not be accepted.
The company emphasized that the ‘slave contract’ that CEO Min mentioned during the press conference was also not true.
Hive said, “CEO Min himself said, ‘I can make 100 billion earn just by sitting still,’ and the condition of having a guarantee of a large amount of money and being able to exchange it for cash and start cannot business in the next year. called a slave contract,” and “Ordinary people can’t even imagine.” “These are unconventional compensation terms,” he said.
Regarding CEO Min’s claim that he was negligent in promoting New Genes, he said, “Over the past year alone, we have written and distributed 273 press releases for New Genes,” adding, “It by Big Hit Music a total of 8 groups and individuals , including BTS.” “Even compared to the 659 cases of Pledis Entertainment, which had 4 teams including Seventeen, with 365 cases, it can never be considered ‘neglecting New Genes PR,'” he added.
As for the idea that shamans are just friends, he countered by saying, “External figures who interfere closely in the overall management cannot be considered just friends.”
Hive explains that during the conversation, various information, such as the number of undisclosed executive stock options, the names of potential investors, and the ratio of each investor’s shareholding were exchanged, and that decisions on management matters were made based on the shaman suggestions.
This type of conversation partner cannot be considered as just an acquaintance.
Hive said, “The company has been accepting and compromising with CEO Min’s constant demands for several years, but this time, we learned that these demands are a so-called ‘construction’ process to seizing control rights,” adding, “Regardless of the time, multi-label value “I had no choice but to go on an inspection to protect it,” explained the background.
Previously, Min, the CEO of Adore, New Jeans’ women’s group agency and label under Hive, held a live press conference on the 25th and poured out harsh words towards Hive, actively denying the allegations.
During the press conference, Representative Min expressed his displeasure by using offensive language such as ‘gaejeossi’, ‘youch’, ‘jiX’, ‘X sound’, and ‘sissy XXX’. Afterwards, CEO Min’s clothing became a hot topic online, and the product sold out.
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