O NewJeans is in the middle of a controversy between HYBE and the subsidiary LOVEthis is because the CEO Min Hee Jin is being accused of trying to gain control of the agency’s management rights. The conglomerate is demanding her resignation, which has left fans apprehensive, as she had a large part in its creation and is part of the career planning team. girl group. If you actually leave your position at the company and the quintet wants to follow you, Minji, Hanni, Danielle, Haerin It is Hyein must pay a million dollar fine.
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O NewJeans was formed in 2022 by ADOR and Min Hee Jin, who worked at SM Entertainment in the past. The CEO holds a 20% stake in the agency, while the remaining 80% belongs to HYBE. Due to the suspicion, the conglomerate initiated an audit, which is an investigation of the activities carried out by a company in order to verify whether its operation complies with the rules established in the contract.
The action ended up confirming attempts to breach the contract and HYBE asked that Min Hee Jin resigned as CEO of ADOR, but she did not remain silent. Through a statement, she said that her disagreement with the conglomerate began because of alleged plagiarism by the group ILLITfrom the subsidiary Belift, which would have copied a concept from NewJeans.
Although the truth is still unclear, South Korean media have speculated that the plagiarism accusation may have been made in a Min Hee Jin’s attempt to avoid paying the heavy fines for breach of contract with HYBE.
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And what about NewJeans in this story?
As reported by Koreaboo and Business Post Korea, Min Hee Jin will not have to pay for the breakage of the NewJeans if you want to take them with you — this amount would be borne by the girls.
According to the Korean Commerce Commission’s standard exclusive management contract, the fees to be paid for terminating a contract is the sum of the average monthly sales for the previous two years multiplied by the number of months remaining in the contract. The remaining bond period of the NewJeans with ADOR — and, consequently, with HYBE — it is around 60 months.
Furthermore, Minji, Hanni, Danielle, Haerin It is Hyein they would have to repay the investments they received, but the publication claims that they recovered all the capital thanks to their success. In other words, they would be exempt from paying this part of the fine.
However, experts made an estimate of the monthly income of the NewJeans during the debut period and the value reaches US$2.55 millionthe equivalent of R$ 13.1 million. Based on this, they would have to pay at least US$153 million in fines, almost R$800 million. Of course, their income increased significantly over time, that is, the amount certainly adds up to much more than imagined.
