On September 11, the group NewJeans held a livestream asking HYBE to restore Min Hee Jin as CEO of ADOR before September 25. This move by NewJeans was considered by the Korean media to show their desire to terminate the contract with HYBE early.
According to Koreaboo's analysis, although NewJeans members can leave HYBE through a lawsuit, they may have to compensate HYBE at least 300 billion KRW (about 225 million USD) or a huge amount of up to 600 billion KRW (about 449 million USD).
Koreaboo further reported that specific details about NewJeans' contracts with ADOR and HYBE were not disclosed, but the Korean Fair Trade Committee has regulations on early termination fees for idols.
Accordingly, the early termination fee is calculated by taking the idol's average monthly revenue over the past 2 years and multiplying it by the number of months remaining in the contract at the time of early termination.
Although NewJeans' exact revenue figures are not disclosed, estimates suggest it could be as high as 300 billion KRW (about 225 million USD).
Previously, HYBE also spoke out about the NewJeans livestream controversy. Mr. Lee Jae Sang - who was recently appointed as Internal Director, affirmed that HYBE is a principled company and will maintain its stance in handling situations related to ADOR.
Korean media said that director Lee's comment indirectly rejected NewJeans' request.
Fans are currently very worried about the future of the NewJeans members.
