In an interview with KBS on the 31st, CEO Min Hee-jin was asked if they could form a “one team,” to which she responded, “We need to work on it,” but also drew a line by saying, “It’s meaningless to talk about it in a situation where we haven’t tried.”
Min avoided immediate dismissal as the court accepted her request for an injunction to prohibit HYBE from exercising voting rights against her. However, at the shareholders’ meeting on the 31st, HYBE replaced the other board members except for Min. By dismissing Min’s close associates and appointing three new board members, the board’s structure became one against three.
After the temporary shareholders’ meeting, CEO Min held a press conference, stating, “I’m not sure whom this fight is for or what it aims to achieve. I hope a compromise can be reached,” indicating her desire for reconciliation.
As CEOs are appointed through the board, they can be dismissed by the board’s resolution. Hence, the relationship between Min and the newly appointed board members is of utmost interest.
In this context, Min expressed in her KBS news interview that “it’s meaningless if we don’t try.” However, she added, “If they are willing to work hard, we can try to make it work,” suggesting that the key to forming a one team lies in the new board members’ willingness.
Min also mentioned that the board change is regrettable for her as well, stating, “It doesn’t feel like a completely settled situation,” implying that the conflict has not been entirely resolved.
She further added, “I think a new phase might emerge as we unravel each thread one by one.”
Regarding the possibility of reconciliation with HYBE, she said, “I think we need to discuss the next steps after winning the trial.” She expressed hope, stating, “I expect HYBE to respect the court’s decision and for other gestures to emerge as the controversies over breach of trust and suspicions are resolved.”
HYBE did not make any particular statement regarding the court’s acceptance of Min’s injunction request.
Attorney Lee Soo-kyun from Sejong, Min’s legal representative, said, “The court’s intention is that there are no grounds for dismissal or resignation, but legally there is no way to force the directors to exercise their voting rights, so the situation remains precarious.”
