OK Records CEO Min Hee-jin will hold an emergency news conference on the 25th to present her position on a recently issued trial court ruling and outline her next steps.
OK Records said on the 24th that Min is convening the event to personally explain the significance of the first-instance decision and her plans for future operations.
Earlier, the Seoul Central District Court on the 12th dismissed a lawsuit filed by HYBE against Min and others seeking confirmation that a shareholder agreement had been terminated. The court, however, upheld Min’s lawsuit against HYBE seeking payment for shares tied to her exercise of a put option. The court ordered HYBE to pay Min 25.5 billion won, but HYBE has appealed.
The dispute centers on whether the shareholder agreement remained valid. Min notified HYBE in November 2024 that she intended to exercise a put option on her ADOR stake. HYBE has argued the put option was no longer effective because it had already notified Min in July that year that it had terminated the agreement. Min has countered that HYBE’s termination was unjustified, and the trial court sided with her.
It will be Min’s first appearance at an official event since the ruling. The news conference is expected to address the 25.5 billion won claim and OK Records’ management direction going forward.
* This article has been translated by AI.
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