Sports Chosun | Journalist Baek Jieun
Will NewJeans and the former CEO of ADOR, Min Heejin, reunite?
According to the Fair Trade Commission’s standard exclusive contract template, the penalty fee for contract termination is calculated by multiplying the average monthly revenue of the previous two years by the remaining months of the contract. This penalty fee represents the agency's expected profit for the remaining contract period.
Financial Supervisory Service’s electronic disclosure system shows that ADOR’s revenue last year was 110.3 Billion KRW. With NewJeans having five years left on their contract, the industry estimates the penalty fee to be around 400 to 600 Billion won.
NewJeans has issued a final ultimatum to ADOR. On the 13th, the members sent a letter to ADOR demanding the reinstatement of former CEO Min Heejin, a thorough investigation into HYBE’s internal documents, strict measures regarding HYBE’s internal documents to be taken, and an official apology from the manager who told other artists to 'ignore' Hanni. They declared that if their demands were not met within two weeks, they would terminate their exclusive contract.
However, the chances of NewJeans’ demands being met are close to zero. It has already been confirmed by BELIFT Lab, ILLIT's agency, that unlike the accusation, no managers told ILLIT's members to 'ignore' Hanni, and former CEO Min resigned from her position as a director at ADOR on the 20th, making her return impossible.
As a result, NewJeans is likely to begin a contract dispute with HYBE. The members claim that Hanni greeted other artists and managers, only to overhear a manager instructing the artists to 'ignore her (Hanni)'. Additionally, an internal HYBE document reportedly included the phrase 'Start afresh without New (NewJeans)' which they argue indicates harassment. If these claims are proven to be true, it could be determined that HYBE is at fault, breaking the trust necessary for their relationship.
The deadline set by NewJeans is now just three days away. All eyes are on whether HYBE and NewJeans can reach a dramatic compromise.
-Haboong-ah, don't even think about getting that money.
-Haboong-ie really had no shame.
-Out of topic, but the girls look so pretty in that picture.
-Wasn't HYBE the one at fault here? They were the ones who said they would start afresh without NewJeans.
-Even these trash articles cost money. They're throwing cash around like water with all this media play. I'm so sick of them.
-They really love money, but look at how poorly they handle things.
-HYBE should pay the penalty fee and terminate the contract.
-Haboong-ie... You are the one who should be compensating for the damages.
-Didn't HYBE previously claim NewJeans barely made any money? Now he's suddenly talking about 110 Billion KRW? Ridiculous.
-Looks like Haboong-ies need 600 Billion KRW to pay off their debtsㅋㅋㅋ
-Haboong-ie and their bullshitㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋ
-Leave NewJeans alone.
-Just let go of NewJeans.
