Article: [Exclusive] “Won’t touch us.. escape plan’”…HYBE, ADOR internal documents secured [Updated]
Source: Segye Ilbo
An insider has leaked internal logs and documents detailing CEO Min Hee-jin‘s coup.
According to an industry official on the 22nd, HYBE is known to have discovered a document in ADOR‘s internal materials that appear to outline a plan to attempt separation of management rights. This document, confirmed by Segye Ilbo is titled ‘5. Purpose a) To ultimately, escape from HYBE b) HYBE won’t touch us (full autonomy). C.”
The ‘Won’t touch us‘ means ADOR, which only has 20% stake, had planned to secure internal data to put pressure on HYBE. ‘To ultimately escape’ is interpreted to mean they will achieve management independence.
In fact it has been revealed that A, known as CEO Min Hee-jin‘s closest associate, downloaded a large amount of HYBE information just before moving to ADOR early this year. It’s said that he downloaded the company’s financial statements even after changing jobs.
If this information was leaked outside, it could be a serious crime due to business interference under the ‘Unfair Competition Prevention Act.’
HYBE is said to have confirmed this fact through “computer log records secured.”
Stay tuned for updates.
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