Min Hee-jin “Takeover of Adore management rights? ‘Aillet’s New Jeans copy incident’ is the essence.”

by times news cr

2024-04-22 11:01:55

“When we raised an official issue with Hive, we were notified of dismissal procedures,” he refuted.

ⓒNewsis

While HYBE, the largest K-pop agency, began an audit of ADOR, a label under its label including CEO Min Hee-jin, Adore countered by saying that the essence of this case was ‘Islet’s New Jeans copy incident.’ ‘New Jeans’ is a representative K-pop girl group planned by CEO Min, and ‘Illit’ is a new girl group under Hive label Belif Lab, which Hive Chairman Bang Si-hyuk participated in producing.

Adore made an official statement on the afternoon of the 22nd and said, “We have raised an official issue with Hive and Belif Lab regarding this copy incident as well as a series of actions that Hive has taken toward New Genes, including this.”

Adohan recently sent a letter to Hive requesting a statement regarding New Genes’ violation of brand value. However, Adore explained that Hive and Belif Lab postponed a detailed response and then notified on this day that they would take steps to suspend and dismiss CEO Min.

Adore said, “At the same time, the media is trying to play with ridiculous content, such as saying that CEO Min Hee-jin ‘attempted to seize management rights,’” adding, “How can a legitimate protest to protect the cultural achievements of New Genes, an artist under the company, affect Adore’s interests?” He raised his voice, saying, “It appears that there is an intention that cannot be understood through common sense, whether it could be harmful or how it could be an act of seizing Adore’s management rights.”

At the same time, he claimed that the cultural achievements achieved by Adore and its artist New Jeans are being most seriously violated by Hive, ironically.

Aylit debuted last month. In the beginning, there were quite a few reactions online that people thought it was New Jeans, including a teaser photo of the actual eyelet. Words such as ‘Min Hee-jin style’ and ‘Min Hee-jin style’ also appeared. Adore pointed out, “Islet’s copy of New Genes was not done by the label BelifLab alone, but Hive was involved.”

In addition, the fact that New Jeans was preparing for a comeback also incited conflict. New Jeans will release a new double single ‘How Sweet’ on the 24th of next month. The music video for the song ‘Bubble Gum’ will be pre-released at midnight on the 27th.

Adore said, “Aillet summoned New Jeans, who was not active. “The appearance of an imitation has damaged New Jeans’ image, and it has become the subject of unnecessary controversy, causing concern and fatigue to fans and the public,” he countered.

Some say that it is understandable that Eyelet is similar to New Jeans since they are labels under Hive. There is even a view that Adore and New Genes would have allowed or understood this similarity. “However, these reactions are clearly a misunderstanding, and we would like to correct this,” Adore said. “Multi-label is a system that allows each label to independently make the music they want, and is by no means a system that allows other labels to follow the cultural achievements of one label just because it is an affiliated label,” he emphasized. .
At the same time, Adore said that it has never permitted or consented to copying New Genes’ achievements to anyone, including Hive and Belif Lab. “I don’t want New Jeans and Aylet to be associated in any way. “We have no intention of tolerating any promotion that claims we are someone’s younger group just because we debuted on a label under Hive.”

“We will mobilize all possible means and methods to protect the cultural achievements that Newgenes has achieved and prevent further infringements due to copying. “We would like to make it clear that we cannot just sit idly by and watch the various unfair practices that continue against Adore and New Genes, including copying practices.”

In addition, Adore believes that as Aillet’s activities increase, there is a possibility of diluting the controversy at the time of her debut by highlighting only the points that are different from New Jeans. In fact, as Aillet’s debut song ‘Magnetic’ achieved good results, including entering the US Billboard’s main single chart ‘Hot 100’, the related controversy has subsided.

Adore said, “After sufficient discussion with New Genes members and legal representatives, we have decided to announce our official position. “I hope that Hive and Belif Lab will be able to face up to their mistakes, respect the cultural achievements of others, and contribute to our country’s music industry and culture through creation that has gone through intense consideration,” he added.

On this day, Hive began an audit of CEO Min and executive A. Hive’s position is that it discovered that Adore executives were attempting to seize management rights for independence and suddenly activated its audit rights. It is known that Hive has discovered that they have been leaking confidential contracts to attract investors and discussing ways to induce Hive to sell Adore stocks held by Hive.

However, as Representative Min and Adore come out with eyelet copy guns and refute the current situation, the confrontation is expected to continue. It has been reported that the Hive audit team is working to recover computer assets and secure face-to-face statements, but the weight is expected to tilt depending on whether actual evidence and physical evidence are secured.

Currently, 80% of Adore’s shares are held by Hive, and the remaining 20% ​​is held by Adore executives, including CEO Min. CEO Min purchased an 18% stake (573,160 shares) in Adore last year. He is the second shareholder after Hive (80%). CEO Min was granted a call option to purchase shares at the time of Adore’s launch, and appears to have exercised it. The remaining 2% of shares (70,840 shares) were held by other Adore executives.

Hive closed at 212,500 won in the stock market today, down 7.81% from the previous trading day. The market capitalization, which was KRW 9.6 trillion as of the closing price on the 19th, decreased to KRW 8.8511 trillion. About 750 billion won was lost in one day.

◆Next is Adore’s official position on the ‘Aillet’s New Jeans copy incident’

hello. This is Adore Co., Ltd. (hereinafter referred to as ‘Adore’, CEO Min Hee-jin).

In order to protect its artist, New Genes, and for the healthy development of our country’s music industry and culture, Adore is making a public statement regarding ‘Aillet’s New Genes copy incident.’

Hive operates a multi-label system so that several labels can independently create their own music and pursue cultural diversity through this. Adore is one of those labels. However, ironically, the cultural achievements achieved by Adore and its artist New Jeans are being most seriously violated by Hive.

Belif Lab, one of Hive’s labels, debuted the 5-member female idol group Aillet in March of this year. After Aillet’s teaser photo was released, reactions such as ‘I thought it was New Jeans’ flooded the online world. Aillet is copying New Jeans in all areas of entertainment activities, including hair, makeup, costumes, choreography, photography, video, and event appearances. Eyelet is evaluated as ‘Min Hee-jin style’, ‘Min Hee-jin style’, and ‘New Jeans imitation’.

This is truly shameful. Hive’s Chairman Bang Si-hyuk produced Aillet’s debut album. Eyelet’s copy of New Jeans was not done by the label Belif Lab alone, but Hive was also involved. Hive, a leading K-POP company, is blinded by short-term profits and copies successful cultural content without any hesitation, producing banality rather than showing newness.

New Jeans is currently preparing for a comeback in May. However, Aylit summoned Newjins, who was not active. The appearance of an imitation damaged New Jeans’ image, and it became the subject of unnecessary controversy, causing concern and fatigue to fans and the public. The culprits who created this situation are Hive and Belif Lab, but the damage caused by it is entirely the responsibility of Adore and New Genes.
There is a response that it is understandable that Eyelet is similar to New Jeans since they are labels under Hive. Some even say that Adore and New Genes would have allowed or understood this similarity. However, these reactions are clearly a misunderstanding, and we would like to correct this. Multi-label is a system that allows each label to independently produce the music they want, and is by no means a system that allows other labels to follow the cultural achievements of one label just because it is an affiliated label.

And Adore has never permitted or consented to copying New Genes’ achievements to anyone, including Hive and Belif Lab. Adore does not want New Jeans and Eyelet to be associated in any way. Just because we debuted under Hive’s label, we have no intention of tolerating any promotion that suggests we are someone’s younger group.

Adore has already raised an official issue with Hive and Belif Lab regarding not only this copying incident but also a series of actions taken by Hive toward Newgenes, including this. However, Hive and Belif Lab did not admit their mistake, but were busy making excuses, and was taking time by delaying providing a specific answer. Meanwhile, Hive suddenly notified today (April 22, 2024) that it would take steps to suspend and dismiss Min Hee-jin as CEO, citing concerns that CEO Min Hee-jin would significantly damage Adore’s corporate value. They say there is. At the same time, the media is trying to play with absurd content, such as saying that CEO Min Hee-jin ‘attempted to seize management rights.’ How can a legitimate protest to protect the cultural achievements of its artist, New Genes, harm the interests of Adore, or how can it become an act of usurping Adore’s management rights? It is something that cannot be understood through common sense. There appears to be intent.

Hive, Belif Lab, and Chairman Bang Si-hyuk did not make a proper apology or prepare countermeasures for this incident, but they seem to think that it will end if they simply kick out CEO Min Hee-jin from the company. But Adore has no intention of backing down. Adore will use all possible means and methods to protect the cultural achievements that New Jeans has achieved and prevent further infringement due to copying. Adore would like to make it clear that it cannot afford to sit idly by and watch the various unfair practices that continue against Adore and New Genes, including copying.

As Aillet’s activities increase, Hive and Belif Lab may try to dilute the situation at the time of debut by highlighting only the differences with New Genes. As time passes, misunderstandings among fans and the public are likely to increase. Accordingly, Adore announced an official position after sufficient discussion with NewJeans members and legal representatives.

We hope that this announcement will resolve the misunderstandings among fans and the public surrounding the ‘Aillet’s New Jeans copy incident’. We hope that with this statement, Hive and Belif Lab will be able to face their mistakes and contribute to our country’s music industry and culture in the future by respecting the cultural achievements of others and creating creations that have gone through intense consideration. thank you

[서울=뉴시스]

2024-04-22 11:01:55

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