On Tuesday April 23 (Yonhap), in SEOUL, South Korea’s largest K-pop company, Hybe, defended its ongoing audit into the management of a subsidiary label, saying it had clear evidence suggesting that the management attempted to take control of the label. Through an email, Park Ji-won, CEO of Hybe, reassured company officials and promised to take all necessary measures after discovering the facts behind these suspicions .
After being accused of trying to take control of the unit, the company on Monday launched an audit of Min Hee-jin, CEO of ADOR who runs NewJeans, and another executive at the label. The allegations were dismissed by Min, who called them an “absurd media game,” while saying the reason Hybe was trying to fire her was her objections to ILLIT, a new girl group launched last month by another subsidiary of Hybe, which, according to it, copied NewJeans, a product resulting from the creativity of its own label.
“The majority of what they claim is either not true or has no basis,” Mr. Park said in the email. “We have learned that the plans in question were drawn up well before ILLIT debuted. Mr. Park believes this is a “case revealing a clear attempt to take control of the company” and said his company “will take necessary measures after confirmation (of the truth) through audit”. He then specifically appealed to ADOR employees to “do their best to support the return and growth of NewJeans.” “Hybe’s top priority is ensuring the safety of its artists and other members. I invite those involved (in the management of NewJeans) to be extra careful to prevent artists from being affected by this incident. ” he added.
Founded by Min in 2021, ADOR is currently 80% owned by Hybe as well as 20% by its management, to which Min belongs. With an 18% stake in ADOR, Min is the company’s second largest shareholder after Hybe.
According to Hybe, the two ADOR executives leaked confidential company documents, such as contracts with the parent company, to third parties in order to attract investors and discuss ways to incentivize Hybe to sell its stake in the subsidiary.
An iconic figure in the K-pop industry, Min has led the branding of famous groups such as Girls’ Generation, SHINee, f(x), EXO and Red Velvet, serving as creative director and member from the board of directors of SM Entertainment, before joining Hybe in 2019. Landing in 2022 under the name ADOR by Min, girl group NewJeans rose to international stardom by releasing successive mega-hits such as “Hype Boy”, “Attention”, “Ditto” and “OMG”. The group is expected to return with a new single next month.
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