HYBE Corporation, the entertainment behemoth behind BTS, recently stepped forward to clear up a significant misunderstanding about the K-pop group’s stock ownership. A now-deleted report inaccurately claimed that all seven BTS members—RM, Jin, SUGA, j-hope, Jimin, V, and Jungkook—had sold all their stocks, causing confusion among fans and investors.
In reality, owning stocks means holding a part of the company, and each BTS member has a stake in HYBE Labels. Reports emerged suggesting that the septet had put their HYBE Labels stocks on the market back in September. The reported selling amounts, based on the September 20 closing price of 243,000 KRW, were substantial, with each member allegedly selling shares worth billions.
Additionally, HYBE’s chairman Bang Si Hyuk reportedly reduced his shareholding significantly. This reportedly coincided with BTS signing new contracts with HYBE, adding to the public’s confusion.
@chimchimbeth2013 Replying to @chimchimbeth2013 According to Yonhap, South Korea’s largest news agency: “The special relationship between seven members of the group BTS and Hybe Chairman Bang Si-hyuk, the agency’s founder and largest shareholder, has been resolved.” Hybe said, “The members did not sell their shares, and as the contract between Chairman Bang Si-hyuk and the BTS members as shareholders has ended, they are no longer considered special parties,” adding, “It is not related to the sale or change of shares.” it is known that BTS members have been specially related according to individual shareholder agreements with Chairman Bang Si-hyuk and have delegated voting rights. Accordingly, it is expected that the seven members of BTS will be able to exercise Hybe voting rights according to the stocks they own in the future.” That means despite BTS being shareholders, due to the old contract, it was BangPD who still represented them and voted for them. But now with the renewal of the new contract BTS members can vote individually.” #news #info #btsrelated #related #bangpd #hybe #latest #news #update #btsarmy #army #wow #congratulations #thelegend #chimchimbeth2013 #chimchimmybethpark2013 #chimmybethpark2013 #foryou #hallyutalkph #xyzbca #trend #trending #fyp #fypシ #fypシ゚viral #fypage #kpop #kpopfyp #edit #btsarmy #bts #hybe #bighit #army #fandom #kpopartist #btsxarmy #방탄소년단 #bts_official_bighit
HYBE clears the air
However, HYBE has since clarified the situation. The agency stated that the BTS members had not sold their stocks. Instead, their special status as shareholders simply ended. HYBE explained that the change was due to the end of their individual shareholder contracts with Bang Si Hyuk. Those agreements delegated their voting rights to the Chairman.
When they signed new contracts with HYBE, these individual agreements were rendered null and void. That means all seven BTS members can now exercise their voting rights as shareholders of the company.
BTS’s impact on HYBE’s success can’t be overstated. The group’s temporary hiatus announcement in 2021 led to a significant drop in the company’s stock value. This highlights their integral role in HYBE’s prominence. The company‘s future is closely tied to BTS‘s continued involvement, underscoring the importance of their relationship for the business’s sustainability. – K-Pop News Writer
Featured Image: The rumor that BTS sold their stocks was much ado about nothing. Source: X/@bts_bighit.