Someone translated Hype's response to the press conference. It's really long so I'll post a few responses.
View: https://twitter.com/snoopy_sapphic/status/1783782830704877776?t=SWkSYGWjy4SZ4EnMentHuA&s=19
Not promoting NJs:
In a press conference held the previous day, Min Heejin claimed that HYBE was negligent in promoting NewJeans only. In this regard, HYBE said, "The HYBE communication organization is doing its best to promote NewJeans. Last year alone, 273 press releases were written and distributed for NewJeans. Compared to 659 press releases by Big Hit Music, which had a total of eight teams including BTS and individuals, and 365 by Pledis Entertainment, which had four teams including Seventeen, it is difficult to claim that HYBE is negligent in promoting NewJeans only. The company's PR is doing its best to inform all labels and artists without discrimination."
Her shares:
HYBE said, "It is not true that they are tied up forever. Min can sell her shares from November this year, and if she sells them, they will not be subject to a competition ban from November 2026, when her contract with the company expires. Min herself is guaranteed a large amount of money, which she said would make 100 billion won even if she remains still alive, and the condition that she can monetize or start a business in a few years is not a slave contract. It is an extraordinary compensation condition that ordinary people cannot even imagine. Even the KakaoTalk conversation that Min had with his aides shows that she will exercise put option on January 2, 2025 and EXIT."
Takeover being jokes:
We should not try to jokingly dismiss the discovery of several documents that already contain terms such as lawsuits for infringement of rights, investment companies, and public opinion campaigns, by calculating the amount that can be earned from the exercise of put options, specifying the timing of the action. There is even a record of instructing the deputy leader, "This should be treated as a private matter."
Promise about Girl group first debut:
'CEO Min, you are making a false claim that is based on your own unique and wrong interpretation of the process of how you separated from Source Music. The reason why NewJeans could not become the first girl group from HYBE was not because HYBE did not keep our promise. At that point in time, you requested to be able to have all the responsibilities in creating the group, and you strongly insisted that you would debut them under your own separate label. HYBE respected your opinion, so even though Source Music opposed this, we transferred the members to ADOR, and gave you a huge amount of ₩16.0 billion KRW (about $11.7 million USD) in support up to now, allowing you to debut NewJeans in the way that you wanted. In this process, because of contract transfers and creating the separate label, NewJeans' debut was delayed, in no relation to HYBE's intentions.
What's more is that this process has also been admitted to by yourself. In your interview with one outlet on March 24, 2022, you claimed that you yourself oversaw the planning of the girl group project, and that you planned the launch in the third quarter of 2022. You mentioned 'The young members would naturally feel the burden of a rushed debut. I did not want to make everyone feel rushed, so I decided to launch the group in the third quarter of 2022, as it is a reasonable time.
Shaman:
During the conversation, the undisclosed amount of stock options for executives, the names of potential investors, and a management rights takeover structure with each investor's shareholding ratio were discussed, and decisions were made based on the shaman's suggestions on various management issues. These conversation partners cannot be considered mere acquaintances. The company takes seriously the fact that important company information was indiscriminately exposed to outsiders other than company officials, interference in decision-making, and requests for employment were received.
youtu.be
