Min Hee-jin, Hive’s potential bomb… Prophecy post from 1 year ago Creepy

Min Hee-jin’s concern post on the stock bulletin board in January last year drew attention.
“I have never done well as a representative in the entertainment industry.”
“Min Hee-jin’s interview disparaging the parent company”
Hive vs. Min Hee-jin’s legal battle likely to spread
The National Pension Service was also hit by a stray bullet from the Hive incident.

As the conflict between Min Hee-jin, CEO of Adore, a member of the girl group New Jeans, and parent company Hive intensified, there were concerns among investors that the nightmare from two years ago might be repeated.

In June 2022, BTS suddenly announced a cessation of activities, causing stock prices to fluctuate and experiencing an unprecedented situation where 2 trillion won in market capitalization evaporated in one day. Two years after experiencing this shock, some people recalled the shock at that time as infighting continued between the Hive labels, saying, “It’s an attempt to seize management rights,” and “Aillet is an imitation of New Jeans.” From the 22nd to the 23rd, Hive’s stock price fell 8%, losing 800 billion won in market capitalization.

Meanwhile, a post predicting this incident on a stock bulletin board a year ago is attracting attention.

In January of last year, a post titled “New Jeans is not a problem, but Min Hee-jin is a problem” was posted on the Hive stock bulletin board.

At the time, Investor A said, “So far, has there been a successful case in the entertainment industry because the CEO went on a rampage? Even Park Jin-young can’t give JYP idols songs, and Yang Hyun-suk was embroiled in a lawsuit and barely returned. He should be in a supporting role like Bang Si-hyuk. He pointed out CEO Min’s behavior, saying, “What are you doing by going on You Quiz and interviewing people and revealing your beliefs like that?”

Mr. A said, “Min Hee-jin feels like a potential bomb to Hive.” He added, “There is no need to praise the parent company, but you shouldn’t belittle it like that. If you give an interview as if Hive could have been created even if Hive didn’t exist, what will happen to the Hive employees and shareholders who supported it? Hey. “There is no,” he said.

At the time, CEO Min said in an interview with the weekly magazine ‘Cine 21’, “People easily shout ‘Hive capital,’ but personally, I do not agree with this expression.” He said that if it was capital, it could have received support from many places other than Hive.

CEO Min said, “After the investment amount was decided and the investment was made, the actual detailed label management strategy was at the label’s own discretion, unrelated to Hive. At the time, I received an investment offer of a similar size in addition to Hive.” He added, “At the time, I had various options and the investment destination was “The ‘creative independence’ and ‘non-interference’ clauses would have been the top priority, so there was no reason it had to be Hive,” he said.

Mr. A’s post comparing CEO Min to a ‘bomb’ from a year ago has now become a sacred post and has been reexamined.

At the time, Mr. A said, “No one is trying to steal the great achievements made by Min Hee-jin, and there is no company. I wonder if she is alone and there is no symbiotic relationship with Hive. The idea for Adore is purely ‘I belong to Min Hee-jin.'” He also predicted, “It seems like it’s a foregone conclusion that Min Hee-jin will take New Jeans out later.”

On the 22nd, Hive launched a surprise audit of CEO Min and others due to an ‘attempt to seize management rights’ from Adore, New Genes’ agency.

When CEO Min raised the issue that Aillit, a later girl group under Hive, had copied New Genes, he responded that they were trying to fire him.

Hive CEO Park Ji-won told employees the next day, “Please do your best in your work for the comeback and growth of New Genes. Hive places the highest priority on protecting artists and members. The artists (New Genes) will not be shaken by this incident.” “Everyone involved should make special efforts to prevent this,” he said.

As the management dispute between Hive and CEO Min becomes more visible, concerns are growing over whether New Genes, which is scheduled to make a comeback next month, will be able to perform as scheduled.

While both sides are known to have already begun preparing legal action, including appointing a large law firm, Hive’s market capitalization evaporated by about 1 trillion won at one point during the day due to large-scale negative news.

The National Pension Service, which holds a large amount of Hive stocks, also suffered a loss of 70 billion won based on valuation.

Lee Mi-na, Hankyung.com reporter [email protected]