The clashes between Bang Si Hyuk and Min Hee Jin continue.
Koreaboo
3 minutes ago
HYBE Chairman Bang Si Hyuk has reportedly filed a lawsuit against former ADOR CEO Min Hee Jin, seeking more than 4.2 billion KRW (approximately $3 million USD) in repayment for a loan he gave her in 2023.
According to a Biz Korea report published on October 16, Bang initially lent Min 3.7 billion KRW (approximately $2.6 million USD) to help her purchase shares in ADOR.
The loan was reportedly made when Min acquired 573,160 shares in the company, giving her a 17.8% stake.
Bang filed for a payment order in April, asking Min to repay the money. In May, the Seoul Western District Court ordered Min Hee Jin to pay him 4.2106 billion KRW. However, she challenged the payment order in July, leading to the case proceeding as a formal civil lawsuit.
The amount Bang is seeking is about 510.6 million KRW more than the original loan. The additional amount equals three years’ simple interest at an annual rate of 4.6 percent. However, the actual interest rate agreed upon by Bang and Min, as well as the specific method used to calculate the amount owed, has not been confirmed.
The lawsuit comes months after Min won a major legal battle against HYBE over her put option. The outcome of the lawsuit remains to be seen.