"Newzins is my child"Min Heejin,'Representational Dismissal = Hive Public Sentence' Anger"
Sep 26, 2024
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In a recent interview with the JoongAng Ilbo, Min expressed his conflict with Hive and why he called for his return to the leadership.
Former CEO Min said "There is no clear reason to accept the dismissal of the CEO. He emphasized that there was a problem with the mutual trust relationship. After Newzins debuted in 2022, Audor turned into a surplus in the first quarter of 2023, and its net profit at the end of 2023 was 26.5 billion won, exceeding the investment (16 billion won). It grew the most among the labels under Hive. Above all, it is completely different from the guarantee of independence for the Min Hee-jin label that Chairman Bang Si-hyuk first proposed and promised when I joined Hive.
The essence of the situation is nothing more than an open execution of the subsidiary's president's blatant defiance of the parent company's feelings. Through this black comedy-like incident, the movie 'JSA' came to mind. It's a skit caused by accidental emotions stemming from human conflict.
After winning the provisional injunction against the interim shareholders' meeting in May, Min said, `Some negotiations came in asking me to take money from Hib. I refused because the money was not my purpose. Newzins, parents, and I have suffered from constant bullying, but we have never said we would leave the Hive. He stressed that he only told us to cut off our attention and leave it alone instead of disturbing it.
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Last month, Odor dismissed former CEO Min through a board meeting and appointed Kim Joo-young as its new CEO. Former representative Min protested this, and the members of Newzins also gave an ultimatum to Hive in an emergency live broadcast on the 11th, saying, `Return former representative Min by the 25th.'
However, Odor said on the 25th that it is impossible to return to the CEO position instead of returning former CEO Min as an in-house director and guaranteeing production for five years, which is the entire remaining contract period for Newzins. In response, former CEO Min should return to his post for the normal activities of Newzins"Andor's compromise is a pun. "
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