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[Exclusive] HYBE Has No Intention of Reconciling with Min Hee-jin… Files Request to Cancel Forced Execution of Put Option starnewskorea.com/music/2026/03/… Reporter Yoon Sang-geun Former ADOR CEO Min Hee-jin proposed giving up her 25.6 billion KRW (approx. 256 billion won? actually 25.6B) put-option payment to HYBE in exchange for stopping all lawsuits, but HYBE appears to have effectively rejected the proposal. According to confirmation by Star News, on March 10, HYBE filed an application with the Seoul High Court to cancel the forced execution related to the stock purchase payment claim against former CEO Min and others. Previously, after applying for the seizure and collection order of Min’s claims (bank accounts), HYBE had also filed an appeal against the first-instance ruling on the stock purchase payment, along with a request to suspend forced execution. The court accepted the request, and the enforcement has currently been suspended. In civil litigation, the party that loses a case can request a suspension of enforcement to prevent provisional execution of the judgment. Courts generally approve such requests unless there are special circumstances, typically on the condition that the applicant provides collateral, such as depositing a certain amount of cash or submitting a guarantee insurance certificate. However, a request to cancel forced execution differs from merely suspending it temporarily. Rather than simply pausing the process, it ultimately excludes part or all of the enforcement measures from the execution procedure, which provides insight into how HYBE views this lawsuit. Previously, on February 12, the Civil Agreement Division 31 of the Seoul Central District Court (Presiding Judge Nam In-soo) held the sentencing hearing for both: • HYBE’s lawsuit against Min seeking confirmation of termination of the shareholders’ agreement, and • Min’s lawsuit against HYBE seeking payment for the stock purchase related to her put-option exercise. The court ruled: “HYBE’s claims are dismissed, and litigation costs shall be borne by HYBE. Min Hee-jin’s exercise of the put option is valid, and HYBE must pay approximately 25.5 billion won.” The ruling therefore sided with Min Hee-jin. Following the decision, on February 25, Min held a press conference at Kyowon Challenge Hall in Jongno, Seoul regarding her victory in the first-instance lawsuit and her future plans. She stated: “I want to announce that I have decided to exchange the 25.6 billion won I would receive as the reward for this victory for another value.” She added: “Among all the reasons for making this decision, the most pressing one is the members of NewJeans.” She continued: “In exchange for giving up the 25.6 billion won, I propose that all ongoing civil and criminal lawsuits be immediately halted and all disputes brought to an end. This proposal includes not only myself but also the NewJeans members, external partners, former ADOR employees, and even the termination of all complaints and lawsuits involving the fandom that has been hurt after being caught up in this conflict.” Min further stated: “I hope this decision to exchange such a large sum of money for another value can be transformed into the overall development and reconciliation of the K-pop industry. The place where HYBE and I should be is not the courtroom but the stage of creation.” She emphasized: “I propose that we adults return to our proper roles and compete through music and performances rather than in court. The longer this dispute continues, the ones who ultimately suffer are the artists, who are the protagonists of this industry.” Addressing HYBE and chairman Bang Si-hyuk, she added: “Let us meet not in court but in the space of creation. In an era where corporate responsibility has grown heavier—especially following the July 2025 revision of the Commercial Act—choosing reconciliation and resolving the risks surrounding the entertainment industry would be the wisest management decision for shareholders and fans alike.” However, in order to block the provisional enforcement of the first-instance ruling, HYBE deposited 29.25 billion won (292.5 billion KRW) as a court bond with the Seoul Central District Court.