Court approves ADOR CEO’s injunction against HYBE

The Seoul Central District Court approved the injunction filed by ADOR CEO Min Hee-jin aimed at preventing HYBE, the label’s parent company, from using its voting rights in the upcoming shareholders’ meeting on Friday.

The verdict means that HYBE, despite its 80 percent stake in the label, will not be able to immediately remove Min, which is the primary agenda of the meeting.

HYBE can either appeal the decision or gather new evidence required to call for another shareholders’ meeting.

HYBE has reportedly lined up replacements for Min from its C-suite executives, including Chief Human Resources Officer Kim Ju-young, Chief Strategy Officer Lee Jae-sang and Chief Financial Officer Lee Kyung-jun.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]