Through Min Hee Jin's KakaoTalk conversations with former ADOR Deputy CEOs, MyDaily estimated the penalty fee for NewJeans terminating its contract with ADOR.
The fine could be as high as 620 billion won (about 441 USD million). The figure is based on the group's estimated monthly revenue for each member, which is calculated as 2 billion won multiplied by the remaining 62 months of the group's standard seven-year contract.
For one member, the fine will be up to 124 billion won and for five members, the total amount will be up to 620 billion won.
According to Chosun.com, Min Hee Jin and two former ADOR Vice Presidents discussed the potential fine via KakaoTalk.
The incident was also raised in a legal dispute initiated by Min Hee Jin to prevent HYBE from exercising voting rights.
On November 13, NewJeans sent an official notice to ADOR, threatening to terminate the contract because the group claimed there were 6 unresolved issues.
These include allegations of workplace harassment, failure to delete leaked old photos, and failure to take action against HYBE employees who showed signs of sabotage against the group.
NewJeans members warned that if their demands were not resolved within two weeks, they would terminate their exclusive contract. There is speculation that their ultimate goal may be to reinstate Min Hee Jin.
However, Min Hee Jin resigned as ADOR's director on November 20. With the deadline of November 27 approaching, there is still no official penalty from the management company if the group NewJeans terminates their contract.
According to the Financial Supervisory Service's electronic information disclosure system, ADOR's reported revenue in 2022 was 110.3 billion KRW. NewJeans debuted in July 2022 and emerged as a K-pop phenomenon with a series of hits that attracted audiences.
