During HYBE's audit amid accusations that CEO Min Hee Jin attempted to seize control over ADOR, they found a document from the company files named "Project 1945."
What is it about?
HYBE Discovers Additional Evidence Named 'Project 1945' From ADOR Files
HYBE organized an audit of the management of ADOR, an affiliate label handling the girl group NewJeans, along with a letter demanding CEO Min Hee Jin resign as the head of the company.
This is after tip-offs reached HYBE that Min and ADOR executives leaked contracts and secretly met private investors in an attempt to steal management rights from its parent company.
On April 24, Channel A made an exclusive report that HYBE has acquired additional secured documents that contain evidence that CEO Min tried to have management rights over ADOR.
In particular, HYBE currently possesses two documents including one titled "Sins of HYBE" and the other one, "Project 1945."
In the first document, Min wrote her specific plan to define HYBE as an "evil group" and conveyed her dream of taking over ADOR's management rights.
Meanwhile, "Project 1945" is a plan that is subdivided into subheadings, such as complaints, civil litigation, and public opinion warfare.
ALSO READ: Min Hee Jin Reportedly 'Stole' NewJeans Members From Source Music: 'So Sungjin Birthed Them'
In the process of knowing the story behind the title, it was revealed that CEO Min would check into online forums and public sites to support her claim that HYBE's new girl group ILLIT (under Belift Lab) copied NewJeans, which is said to be the cause of the whole conflict.
Regarding the year "1945," it is said that it is a reference to the year of Korea's liberation from Japan, the time that the country regained its sovereignty. This was interpreted as ADOR management's will to become independent from HYBE.
On April 24, Min Hee Jin then submitted the audit response requested by HYBE, but it is known that the laptop used by the CEO, a company asset, has not yet been returned.
Regarding this, HYBE declined to comment and said:
"A response has been received, but the contents cannot be made public. The answer states that strong legal action will be taken if the contents are disclosed to the outside world."
ADOR Continues to Deny HYBE Accusations
On the same day, ADOR's vice-president had a phone call with Yonhap News where he refuted that the documents found in his files were just "personal doodles" and "it was not a matter discussed with CEO Min or other executives of ADOR."
However, the interim audit result lambasted this claim as the VP turned out to be Min's right-hand man, a former certified public accountant who moved from HYBE to ADOR. He was originally in charge of IR (Investor Communication) in the finance department while working with HYBE.
READ MORE: Min Hee Jin Breaks Silence on HYBE's Audit Allegations
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Written by Eunice Dela Cruz
