"Delegation Agreement? Signature NO"..'New Jin's Mom' Former CEO Min Hee-jin's Reason for Refusing to Hive
Aug 30, 2024
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Former CEO Min Hee-jin said on the 30th that former CEO Min Hee-jin will continue to take charge of producing New Jin's products to the media on the 27th, but this is a one-sided media play that does not agree with all of the reports as it is attached to the former CEO Min Hee-jin's own intention. Kim Joo-young, the head of the Board of Directors, sent a contract titled 「Deputy Contract」 to former CEO Min Hee-jin on the 28th. "There are many things that are difficult to understand in common sense because the content is unilateral and unreasonable in order to suggest that we take charge of the production work revealed through the media."
According to CEO Min, it is unreasonable to continue to be in charge of production. The contract period stated in the business delegation contract is from August 27, 2024 to November 1, 2024, with a total period of about 2 months and 6 days. Representative Min said "Newzins finished its fan meeting at Tokyo Dome in Japan in June and is planning a world tour in 2025. It is surprising to think that the production of an idol group preparing for the world tour can be completed in two months. With this, Hive's nominated directors of Ordor are proving themselves to lack of understanding of their core tasks.'
In addition, according to representative Min, the contract can be unilaterally terminated by Hive at any time. Representative Min said "The business commission contract is full of toxic provisions that can be terminated by Adore's unilateral intention. Even the two-month contract period can be shortened at the whim of Adore (substantially Hive)," the contract stipulates that the contract can be terminated immediately if the former CEO Min Hee-jin's ability to perform his duties is deemed significantly insufficient. There is no provision for any objective basis or standard. Even if it is difficult to maintain the contract due to Adore's management circumstances or determined by Adore's CEO according to Adore's needs, it is stipulated as a reason for immediate termination of the contract. This stipulates that Adore can terminate the contract at any time at will. It is a trick that has opened the way to be excluded from the job for any reason at any time."
It is full of unreasonable provisions, such as the fact that it is possible to terminate the contract if it is deemed that the management performance is remarkably poor even though he is a producer, unlike the justification for the separation of management 'Management and Production'Hive's sincerity is questioned whether he wants to continue producing Newzins to former CEO Min Hee-jin. It has no choice but to consider it as an act of intentionally attracting contract rejection and trying to use it as a paving the way for other media plays. The board of directors demanded that such an unreasonable contract be signed by the 30th. However, Min Hee-jin, the former representative, decided that it was impossible to sign" he said.
At the board meeting held on the 27th, Adore appointed Kim Joo-young, the chief human resources officer of Hive, as the new CEO. Former CEO Min Hee-jin said he will step down as CEO and become an in-house director, and will be in charge of producing Newzins. In this regard, former CEO Min claimed on the 28th that the dismissal is an illegal decision that directly contradicts the decision to ban the exercise of voting rights and contracts between shareholders.He also said, `Regardless of former CEO Min's intention, unilateral resolution to dismiss CEO is a serious violation of the contract between shareholders, and it has not been discussed that former CEO Min continues to produce Newzins, and unilateral notification of the company.' In particular, former CEO Min said "You have to make some precedents to avoid being beaten by hives every day." So I'm also trying to do it with my own life and death.'
The following is a full text of former CEO Min Hee-jin's position.
Hello.
It is a Markol Consulting Group that is in charge of media communication with Sejong, a law firm that represents Min Hee-jin, former CEO of Audor.
Audor's board of directors will reveal its position on the unfairness of the production work-related delegation contract sent to former CEO Min Hee-jin and misrepresented in the media.
On August 27, the Board of Directors of Audor told the press that former CEO Min Hee-jin will continue to take charge of producing Newzins.
However, this is a one-sided media play that has nothing to do with former CEO Min Hee-jin's intention and has not agreed to any of the reports.
Then, on August 28, the chairman of the Board of Directors, Kim Joo-young, sent a contract to former CEO Min Hee-jin titled 'Delegation Agreement'.
There are many things that are difficult to understand in common sense because the content is unilateral and unreasonable to suggest that the production work revealed through the media be in charge.
◇ a two-month, ultra-short production contract
The contract period stated in the business delegation contract is from August 27, 2024 to November 1, 2024, and the total period is only 2 months and 6 days.
Newzins successfully finished its fan meeting at Tokyo Dome in Japan in June, and is planning a world tour in 2025. It's amazing to think that I can complete the production of an idol group preparing for the world tour in two months. With this, Hive's nominated directors are proving themselves to lack of understanding of core tasks.
Looking at the unconventional contract period alone, it seems clear that the argument made by the Board of Adore that 'all decisions are best decisions for Newzins' was a fiction and a media play.
◇ Unilateral termination of contract by the Board of Directors (Hive) is possible at any time
The business delegation contract is full of toxic provisions that can be terminated by Adore's unilateral intention.
Even the two-month contract period can be shortened at the whim of Adore (in practice, Hive).
The contract stipulates that Adore can immediately terminate the contract if it is deemed that former CEO Min Hee-jin's ability to perform his duties is significantly insufficient. There is no provision for any objective basis or standard.
Even if it is difficult to maintain the contract due to Adore's management circumstances or determined by Adore's CEO according to the needs of Adore, it is stipulated as a reason for immediate termination of the contract. This means that Adore (in substance, Hive) can terminate the contract at will at any time. It is a trick that has opened the way for exclusion from the job at any time and for any reason.
It is also filled with unreasonable provisions, such as the contradiction that it is possible to terminate the contract if it is deemed that the management performance is remarkably poor even though it is a producer, and that the competition prohibition period is 6 times even though the contract period is 2 months.
It is undeniable that Audor and Newzins achieved unprecedented achievements in recognition of their originality and differentiation under the leadership of former CEO Min Hee-jin.
Nevertheless, the act of sending such an uncommon-sense contract raises doubts about whether Hive wants to continue producing New Jeans to former CEO Min Hee-jin. This can only be considered as an act of intentionally trying to `induce' rejection of the producer contract and use it as a paving the way for another media play.
The board of directors has been demanding that such an unreasonable contract be signed by the 30th of today. However, former CEO Min Hee-jin believes it is impossible to sign and at the same time expresses his position in preparation for another distorted article to be reported.
Thank you.
lunamoon@sportschosun.com
