[Exclusive] HYBE Restricts Access to Min Hee-jin Trial Records: "Viewable Only by Involved Parties"

[비즈한국] It has been confirmed that HYBE352820 has filed for and been granted a restriction on access to litigation records involving former ADOR CEO Min Hee-jin. HYBE requested 'restrictions on viewing of trial records' regarding the stock purchase price claim lawsuit and the shareholder agreement termination verification lawsuit against former CEO Min Hee-jin. As the court partially granted these requests, access to some of HYBE's trial materials is now restricted to the involved parties only.

HYBE headquarters in Yongsan-gu, Seoul. HYBE has filed for restrictions on access to litigation materials regarding former ADOR CEO Min Hee-jin, making them viewable only by the parties involved. Photo=Reporter Park Jung-hoon

On January 8, HYBE filed a request to restrict access to trial records for the lawsuit verifying the termination of the shareholder agreement, which is currently in litigation with former CEO Min Hee-jin. Subsequently, on the 12th, they also filed a request for access restriction regarding the stock purchase price claim lawsuit, which is also currently being litigated with former CEO Min. It is known that the request was made on the grounds that trade secrets, such as internal HYBE reports, are included in the trial records.

A request to restrict access to trial records is a procedure designed to prevent third parties from viewing or copying litigation records when they contain trade secrets or other sensitive information. Once the request is granted, the right to view or copy the trial records is limited to the involved parties.

Typically, in civil trials, such applications can be made if: △there is a concern that national security, public order, or good morals may be harmed; △there is a concern of significant disruption to the social life of the people involved in the case; or △the trial records contain trade secrets held by the parties involved.

The court deemed that HYBE's application was 'partially justified.' Accordingly, access to some of HYBE's trial materials has been restricted to the involved parties.

Former ADOR CEO Min Hee-jin holding a press conference regarding the ADOR extraordinary shareholders' meeting on May 31, 2024. HYBE and former CEO Min are engaged in a 26 billion won 'stock purchase price claim lawsuit' and a 'shareholder agreement termination verification lawsuit.' Photo=Reporter Lee Jong-hyun

HYBE had previously filed a request to restrict access to trial records in the injunction lawsuit to prohibit the exercise of voting rights against former CEO Min Hee-jin in June of last year, but it was dismissed as 'groundless.'

Currently, HYBE is engaged in a 26 billion won 'stock purchase price claim lawsuit' and a 'shareholder agreement termination verification lawsuit' against former CEO Min Hee-jin. Both sides are currently in the first trial phase, having appointed 21 and 22 attorneys respectively, including former judges and prosecutors and those from Kim & Chang Law Office.