Min Hee-jin's annual salary of 2.7 billion won, and he's writing a vs hive novel by stealing New Jin's...26 Billion Put Options Litigation
Jun 13, 2025
|
The hearing of the 31st Division of Civil Agreement (Chief Judge Nam In-soo) at the Seoul Central District Court on the 12th held the first hearing of a lawsuit against Hive to confirm the termination of the stock trading price and the contract between shareholders.
Former CEO Min notified Hive of the exercise of put options when he resigned from his position as an in-house director in November last year.
According to the agreement between former CEO Min and Hive's shareholders, if he exercises the put option, he can receive the amount divided by the total number of issued stocks after multiplying the average operating profit of the previous two years (2022-2023).
Audor recorded an operating loss of 4 billion won in 2022 when Newzins debuted, but made an operating profit of 33.5 billion won in 2023, the following year. According to the contract between Min and Audor's shareholders, Min holds 573,160 shares (18 percent). Of these, 75% or 13.5% can be put options, so the amount that former CEO Min can receive through the put option event is estimated to be about 26 billion won.
|
Hive said "The purpose of signing an agreement between shareholders is the growth and development of Adore. It is not supposed to do anything that can cause damage to Adore or Hive. However, former CEO Min tried to take out Newzins after receiving an annual salary of 2.7 billion won in 2024. The reason for the termination of the contract is to make a plan to get Newzins out."
Hive emphasized that former CEO Min committed a clear act of betrayal, such as sending a complaint email to Hive by giving detailed instructions to employees, such as 'Write an e-mail in the way Hye-in speaks to her father's way' and 'Send an e-mail in the name of Daniel's mother' from March 2024, and prepared a PT defense. This includes the contents of former CEO Min's Kakao Talk message, which is expected to cause controversy.
On the other hand, Min's former representative responded that he notified Hive of the termination of the contract due to violation of the contract, but the contract has not yet been terminated.
He also quit after exercising his put option, and Newzins has since notified him of the termination of the contract. Tempering cannot be establishedThe evidence presented by Hive was illegally collected, he said. "It's like a novel."
The next hearing date will take place at 3 p.m. on September 11.
Reporter Baek Ji-eun silk781220@sportschosun.com
silk781220@sportschosun.com
