HYBE Chairman Bang Si-Hyuk has reportedly filed a lawsuit against former ADOR CEO Min Hee-Jin over an unpaid loan of approximately KRW 4.2 billion (around $3 million). The dispute stems from a KRW 3.7 billion loan that Min allegedly borrowed from Bang in 2023 to purchase ADOR shares. According to reports, the case moved to a formal civil lawsuit after Min objected to a court-issued payment order. The development comes months after Min won a separate put option lawsuit against HYBE, with the court ordering the company to pay her approximately KRW 25.6 billion for her shares.
Why Has Bang Si-Hyuk Sued Min Hee-Jin?
HYBE Chairman has reportedly filed a lawsuit against former ADOR CEO Min Hee-jin, seeking the repayment of approximately KRW 4.21 billion (around $3 million). According to a report by Biz Hankook, the dispute concerns a loan Min allegedly took from Bang in 2023 to purchase shares in ADOR.
The Seoul Western District Court reportedly issued a payment order in May after Bang sought repayment of the loan in April. However, Min filed an objection in July, resulting in the matter proceeding as a formal civil lawsuit. The case was subsequently transferred to the Seoul Central District Court in accordance with the loan agreement between the two parties.
A payment order is a legal procedure through which a court can direct a debtor to pay a creditor without initially conducting a full trial. When the debtor files a valid objection, the matter can proceed to formal civil proceedings.
Min Hee-jin Borrowed KRW 3.7 Billion To Purchase ADOR Shares In 2023 The financial dispute dates back to March 2023, when Min purchased 573,160 shares in ADOR, representing a 17.8% stake, from HYBE for approximately KRW 3.738 billion.
According to the report, Bang lent Min KRW 3.7 billion towards the share purchase. The transaction was also referenced in the separate legal proceedings concerning Min’s put option claim and HYBE’s attempt to establish the termination of their shareholder agreement.
HYBE Chairman Bang Si-Hyuk
The amount sought in the current lawsuit is approximately KRW 4.2106 billion, which is KRW 510.6 million more than the original loan. The difference corresponds to the principal plus simple interest calculated at an annual rate of 4.6% over three years. However, the precise interest terms agreed upon by Bang and Min, as well as the method used to calculate the amount claimed, have not been independently confirmed.
Min Hee-Jin’s KRW 25.6 Billion Put Option Lawsuit Against HYBE
Bang’s reported loan lawsuit comes after Min secured a favourable first-instance ruling in a separate legal battle against HYBE over her put option. Min had filed a lawsuit seeking payment for her ADOR shares after exercising the put option under the shareholder agreement she signed with HYBE. In February, the Seoul Central District Court reportedly ordered HYBE to pay her approximately KRW 25.595 billion. The court also dismissed HYBE’s claim seeking confirmation that the shareholder agreement had been terminated.
Former ADOR CEO Min Hee-Jin
Following the ruling, proposed resolving the wider dispute by relinquishing her rights to approximately KRW 25.6 billion in exchange for ending civil and criminal proceedings involving HYBE. Her proposal also reportedly included withdrawing complaints and accusations involving NewJeans members, outsourcing partners and former ADOR employees. However, HYBE appealed the first-instance decisions in both the put option case and the lawsuit concerning the termination of the shareholder agreement.
With Bang’s loan recovery claim now proceeding as a formal civil lawsuit, the court will consider the dispute under the applicable legal process. The outcome may depend on the loan agreement, the repayment terms and the parties’ respective arguments. The loan case is separate from Min’s put option dispute with HYBE, although both stem from the broader business and contractual relationship surrounding ADOR. Further developments in the proceedings are expected to clarify the repayment claim and the legal positions of both parties.