Tag: Bang Si Hyuk

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Fair Trade Commission to Investigate HYBE Further

HYBE Labels

The Fair Trade Commission (FTC) will further investigate HYBE despite the company’s claim that the omission of designated data was unintentional. This follows a correction report filed by HYBE, which described the omission as a “simple mistake.” The FTC’s investigation, if it uncovers intentionality and significant omission of data, could lead to criminal charges against HYBE Chairman Bang Si-hyuk.

The probe continues despite HYBE’s claims of a “simple omission” in data disclosure

On July 2, HYBE filed a correction report with the Financial Supervisory Service’s Electronic Disclosure System (DART). The report addressed the status of overseas affiliates in which the CEO’s family holds shares, citing a “simple omission.” HYBE disclosed ‘BEL AIR STRADELLA, LLC,’ a U.S. real estate company owned entirely by Bang Si-hyuk. Reports indicate that Bang Si-hyuk purchased a luxury mansion worth approximately 36.5 billion won (26.4 million dollars) through this company.

HYBE explained, “With the designation of large corporate groups subject to disclosure, the corporation also has an obligation to disclose. In practice, there was a simple omission, so we made a corrective disclosure.”

The FTC conducted an on-site investigation into HYBE on June 24, suspecting data omission for large corporations. Despite HYBE’s voluntary correction, the FTC plans to continue its investigation. An FTC official stated, “We plan to continuously uncover whether this was a simple omission, as HYBE claims, or a deliberate concealment.”

If the investigation reveals that HYBE omitted additional affiliates, excluding their assets from calculations, it could mean avoidance of corporate group designation and engagement in unfair practices. Significant omissions could result in punishment.

HYBE’s voluntary correction came over two months late, beyond the 10-day window for such actions. A retroactive application is unlikely, as the enforcement decree takes effect on the 7th of next month. According to the Monopoly Regulation and Fair Trade Act, large corporate groups can face criminal charges for omissions or errors in data related to disclosure obligations. The FTC will review the missing data and HYBE’s explanations in their ongoing investigation.

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Bang Si Hyuk Reveals to Have Purchased $26.4m Mansion in LA Through HYBE Labels Subsidiary

Bang Si Hyuk, the chairman of HYBE Labels, has recently revealed that he purchased a $26.4 million mansion in Los Angeles through a subsidiary company. The acquisition, which took place in April of last year, involved a HYBE Labels subsidiary known as BEL AIR STRADELLA, LLC. This information came to light after HYBE Labels made corrections to its 2024 state of affairs report.

Bang Si Hyuk used a subsidiary to acquire a luxurious mansion in Los Angeles, sparking shareholder speculation

The Korea Fair Trade Commission (KFTC) launched an investigation into HYBE Labels earlier this year, probing into the company’s state of affairs report. The KFTC did not disclose the specifics of what might have been omitted or fabricated in the report, but it was suspected that the omissions involved companies owned by Bang Si Hyuk and his relatives.

On July 26, KST, HYBE Labels addressed the issue by publishing several corrections to the report. Among these corrections was the acknowledgment of BEL AIR STRADELLA, LLC, a U.S. subsidiary fully owned by Bang Si Hyuk and registered in December 2023. Shareholders quickly speculated that this company was created solely to facilitate the purchase of the mansion in the upscale Bel Air neighborhood of Los Angeles, California.

Additionally, BEL AIR STRADELLA, LLC is registered as a real estate company, leading some shareholders to cynically comment, “Wonder what sort of lofty dreams drove him to open a real estate company…”

This mansion, previously owned by comedian Trevor Noah until 2022, has now become a focal point of discussion among HYBE shareholders. It raises questions about the motivations behind the purchase and the use of a subsidiary to acquire such a luxurious property.

In related news, HYBE and ADOR’s dispute still continues to worsen despite numerous attempts to fix legal hearings. Previously, Min Hee Jin’s Kakao messages were also exposed, sparking huge controversy among its employees and the public.

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aespa and NewJeans Collaborate in ‘How Sweet’ and ‘Armageddon’ Dance Challenges

The members of aespa and NewJeans delighted fans with an exciting collaboration that showcased their camaraderie and mutual respect. The idol groups just showed off their undeniable talent in new dance challenges!

aespa and NewJeans Delight Fans in New Dance Challenges

In a surprising and heartwarming display of unity, NewJeans members Danielle and Hanni teamed up with aespa’s Ningning and Winter to perform the ‘How Sweet’ dance challenge. Simultaneously, Karina and Giselle from aespa joined forces with Minji and Haerin from NewJeans for the ‘Armageddon’ challenge.

This collaboration has garnered significant attention, not only because it features two of the most popular girl groups in the K-pop industry today but also due to the underlying narrative that preceded it. There had been a wave of speculation and rumors among fans suggesting a possible rivalry between aespa and NewJeans. This speculation was fueled by leaked messages from Bang Si Hyuk, the chairman of HYBE Corporation, who had reportedly urged Min Hee Jin, CEO of ADOR (the label managing NewJeans), to use NewJeans to “step on aespa.”

Such messages led to widespread discussions among fans, with some expressing concerns about potential animosity between the two groups. However, the recent collaboration effectively dispelled these rumors and demonstrated that aespa and NewJeans maintain a friendly and supportive relationship despite any external pressures or industry competition.

Girls Just Wanna Have Fun

The ‘How Sweet’ and ‘Armageddon’ dance challenges allowed fans to witness a blend of talents from both groups, creating a memorable and joyous experience. Danielle, Hanni, Ningning, and Winter’s performance was filled with energy and synchronization, highlighting their shared love for dance and performance. Similarly, Karina, Giselle, Minji, and Haerin showcased their charisma and chemistry, proving that collaboration between the two groups is not only possible but also highly successful.

This joint effort signifies more than just a fun dance challenge; it represents a broader message of solidarity and camaraderie within the K-pop industry. By coming together, aespa and NewJeans have shown that unity and mutual respect can thrive amidst competitive environments. Their collaboration serves as an example of how artists can support and uplift each other, setting a positive precedent for future interactions among K-pop groups.

The response from fans has been overwhelmingly positive, with many expressing joy and relief at seeing their favorite idols interact harmoniously. This collaboration has also opened up new possibilities for future projects and partnerships between aespa and NewJeans, further exciting their fanbases.

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aespa Reacts to Bang Si Hyuk’s Viral ‘crush aespa’ Comment

aespa has finally spoken up about a truly hot topic. Karina has addressed the viral “crush aespa” comment made by HYBE CEO Bang Si Hyuk.

aespa Speak Up on Viral ‘crush aespa’ Comment

On May 27, 2024, aespa electrified fans and the media with a spectacular showcase for their much-anticipated comeback with their new album ‘Armageddon’. The members delivered powerful performances that highlighted their unique blend of vocal prowess, intricate choreography, and charismatic stage presence, reaffirming their position as one of K-pop’s leading girl groups.

During the interview segment of the showcase, reporters couldn’t resist addressing a recent viral topic involving aespa and HYBE’s founder, Bang Si Hyuk. The controversy stemmed from an incident where Bang Si Hyuk had reportedly sent ADOR CEO Min Hee Jin text messages that included a directive to “crush aespa.” This exchange quickly became a popular meme across social media platforms, capturing the attention of both fans and industry watchers.

Given the widespread attention, the reporters were curious about how this incident affected aespa during their comeback preparations. When asked if this hot topic added pressure, Karina, demonstrating her poised and witty nature, responded humorously, downplaying any potential stress. Her light-hearted approach helped to diffuse any tension, showcasing her maturity and media-savvy skills.

“We know all about the matter. Since it’s out first full-length album, we gave our all in practicing. We gained strength from the support and love [we received] and worked hard to prepare for it. I think it’ll be a satisfactory start with this first full-length album, so I am thankful for the public, as well as for our SM family and the members who have worked hard.” – Karina

Winter followed up with an equally composed and optimistic outlook. She stated that rather than dwelling on the controversy, the group chose to interpret the attention as a positive omen for their album’s success. This perspective not only demonstrated their resilience but also their ability to remain focused on their goals despite external distractions.

aespa’s handling of the situation highlighted their professionalism and ability to maintain a positive attitude in the face of potential adversity. By addressing the issue with humor and confidence, they managed to turn a potentially negative situation into an opportunity to connect with their audience on a deeper level.

The “Armageddon” showcase was a testament to aespa’s talent and hard work. Their adept handling of the controversy and their outstanding performance underscored their readiness to continue dominating the K-pop scene. Fans and critics alike left the event with a renewed appreciation for aespa’s artistry and their unwavering dedication to their craft.

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2AM Announces January 2024 Comeback with Bang Si Hyuk Involvement

2AM is set to make a full-group January 2024 comeback, creating much excitement among fans. This return is made in collaboration with HYBE Chairman Bang Si Hyuk, who has played a significant role in shaping the group’s trajectory and has been referred to as the “father figure” of 2AM.

2AM to Reunite with Bang Si Hyuk on January 2024 Comeback

Bang Si Hyuk’s involvement in 2AM’s musical journey dates back to their debut, where he has contributed to producing many of their hit songs, such as “Can’t Let You Go Even If I Die” and “You Wouldn’t Answer My Calls.” His collaboration with 2AM titled “Should Have Known” for their 2021 comeback with ‘Ballad 21 F/W’ was met with great success, marking the group’s first full-group return in seven years.

The anticipation for 2AM’s January 2024 comeback is heightened by Bang Si Hyuk’s reputation as a prolific producer, known for bringing out the best in artists and crafting emotionally resonant music. Fans are eager to see how the collaboration will result in a new musical chapter for 2AM.

To offer a sneak peek into their upcoming music, 2AM is scheduled to reveal their new song for the first time during the “2023 MBC Music Festival” on December 31. This high-profile performance, set to air at 8:30 PM KST, is expected to showcase 2AM’s emotive vocals and set the stage for their much-anticipated comeback in January 2024.

Having debuted in 2008 with the single “This Song,” 2AM quickly gained recognition and love for their ballad genre, also becoming the first ballad idol group. Over the years, their hits like “Can’t Let You Go Even If I Die,” “You Wouldn’t Answer My Calls,” “Confession of a Friend,” “How to Break Up Well,” and “I Was Wrong” have solidified their position in the industry.

Since their full-group comeback in 2021, 2AM has remained active, releasing official and project songs, including “Close but Far,” “Should Have Known,” “Love, That’s It,” and “I Hate Everything but You.” The group’s enduring popularity and the promise of new music also make their January 2024 comeback a highly anticipated event in the K-pop landscape.

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BTS Members Reportedly Sells All HYBE Labels Stocks

The members of BTS have recently made a surprising decision about their future. A new report reveals that Jin, Suga, RM, j-hope, Jimin, V, and Jungkook have sold all their HYBE Labels stocks.

All 7 Members of BTS Have Reportedly Sold All Their HYBE Labels Stocks

In a recent report on November 17, it was revealed that all seven members of BTS have decided to sell their HYBE Labels stocks. The information, accessible through South Korea’s DART (Data Analysis, Retrieval, and Transfer System), detailed that the BTS members placed their HYBE Labels stocks on the market in September of this year.

The reported selling amounts, calculated based on the closing price on September 20 (243,000 KRW), are as follows: Jin sold approximately 12.7 billion KRW (52,385 shares), j-hope sold approximately 15.3 billion KRW (62,784 shares), RM also sold approximately 14.1 billion KRW (58,000 shares), SUGA sold approximately 16.6 billion KRW (68,385 shares), Jimin sold approximately 16.6 billion KRW (68,385 shares), V sold approximately 16.6 billion KRW (68,385 shares), and Jungkook sold approximately 16.6 billion KRW (68,385 shares).

Additionally, a shareholder report on stocks and other securities disclosed by HYBE on November 14 revealed that the label’s chairman, Bang Si Hyuk, has also chosen to decrease his ownership stake from 24,322,584 shares (58.07%) to 21,429,024 shares (51.42%), marking a decrease of 2,893,560 shares (6.65%).

As of now, HYBE Labels has not issued an official statement in response to the report.

Bang Si Hyuk Reflects on the Future

In related news, HYBE had announced its second re-signing with BTS last month. Reflecting on this with Bloomberg, Bang Si-hyuk emphasized the bond between the septet and the company, saying, “The relationship between BTS and HYBE is good, but there were difficulties during the negotiation process, and we became closer while resolving them. It was the greatest happiness in my life as a manager, which is filled with hardships.”

Bang Si-hyuk also revealed that he’s been thinking globally. “We needed to expand externally and internally to enhance the influence of K-pop in the global music market and secure many global fans. We will continue to pursue experimental attempts for the sustainable growth path of K-pop, regardless of success or failure,” he added.

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HYBE And MBC Finally Resolve Four-Year Conflict

It has been a long time but HYBE and MBC have finally resolved their four-year conflict. The renowned record label and the broadcasting company have settled their differences in a recent meeting.

Four-Year Conflict Between HYBE and MBC Finally Resolved

On October 30, HYBE Label’s chairman Bang Si Hyuk made a visit to MBC for an open and candid discussion with MBC president Ahn Hyeong Joon. The meeting was made possible after Ahn extended an invitation as a gesture of regret. During this meeting, Ahn expressed his regret for MBC’s past wrong and outdated practices that had caused harm and hurt to HYBE’s artists.

Ahn also issued a statement regarding their meeting. “We firmly agree that there’s a need to establish a relationship between artists and broadcasting companies that befits the respectable status of K-pop,” he said. “Additionally, we also agreed to improve the long-standing flawed production culture between broadcasting and entertainment companies and to create an environment for content production with mutual respect and consideration.”

Bang’s statement reflected his appreciation for the gesture. “I’d like to express my deep gratitude to MBC for their sincere apology and their commitment to improving the rights of K-pop artists,” he said. “I hope this meeting will serve as a starting point for a new era where a healthy content production environment is established across the entire domestic entertainment industry, transcending the boundaries of our two companies.”

HYBE’s Plans for the Future

During the meeting, Bang Si Hyuk underscored the paramount importance of prioritizing artists’ rights to ensure the sustainable growth of K-pop. He highlighted specific areas requiring improvement, such as the practice where artists have to endure prolonged waiting times to interact with the production team even after a program has concluded. HYBE further revealed that both parties expressed their intention to engage in further discussions aimed at establishing a healthy content production environment and striving for tangible outcomes in the near future.

The four-year conflict between HYBE and MBC originated in 2019 when BTS performed at a significant year-end music show in the United States, resulting in their inability to participate in MBC’s annual year-end event, “MBC Music Festival,” on the same day. Consequently, all artists affiliated with HYBE have been restricted from appearing on MBC’s “Music Core” since that incident. This protracted dispute has been a source of contention in the K-pop industry, and the recent meeting signifies a potential turning point in resolving these issues and fostering a more collaborative and artist-friendly environment.

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HYBE Boss Bang Si Hyuk Insists on Letting Trainees ‘EAT and DATE What They Wanted’

Dating continues to be a major issue in K-pop but Bang Si Hyuk is determined to change that. The HYBE boss recently addressed the idea of giving trainees more freedom. This includes allowing the teenagers to “DATE and EAT what they wanted” while preparing for their debut.

Many artists channel their emotions, beliefs, joys, and tribulations into their artwork, encapsulating them in songs that feel more genuine when drawn from personal experiences. In the realm of K-Pop, where love and romance are frequent lyrical themes, personal dating experiences can enrich an artist’s performance, infusing it with authenticity.

HYBE Boss Insists on Giving Trainees More Freedom in Their Personal Life

Bang Si Hyuk, chairman of HYBE Corporation, formerly known as Big Hit Entertainment, shares this perspective. In a recent interview with Bloomberg Live, he underscored the importance of trainees having well-rounded life experiences. The HYBE boss stated, “Let the trainees DATE and EAT what they wanted.”

HYBE’s approach is distinct in that they permit their idols to date, a practice that sets them apart from many other entertainment agencies. While it’s possible that some HYBE artists may be in relationships, none have publicly confirmed or announced romantic involvement.

This contrast becomes evident when compared to artists from other leading entertainment agencies, where public announcements of relationships are more common. HYBE’s approach suggests a preference for maintaining the personal lives of their artists as private matters, keeping them away from intense media scrutiny.

By fostering a holistic life experience for their trainees, HYBE may be cultivating well-rounded artists who draw from a wider range of emotions and experiences, ultimately enhancing their musical performances. The discretion around romantic relationships allows artists to maintain their privacy, ensuring that their art remains the central focus for their fans. HYBE’s unique approach prioritizes the emotional depth and authenticity of their artists’ work, enabling fans to connect with their music on a more profound level.

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Watch: LE SSERAFIM Bonds With ‘The Debut: Dream Academy’ Contestants

'The Dream: Debut Academy' contestants pose with LE SSERAFIM and Bang Si Hyuk. Credit: YouTube/HYBE Labels

While it’s only been a year since LE SSERAFIM’s debut, the quintet already proved that they are ready to be seniors of the next HYBE girl group formed through the reality series The  Debut: Dream Academy.

On Monday, October 2, the survival competition unveiled its latest episode, featuring the surprise visit of LE SSERAFIM.

At the start of the video, Chaewon, Yunjin, Sakura, Kazuha, and Eunchae appeared as undercover staff while the trainees filmed Tiktok content. After a few minutes, the trainees could not hide their astonishment upon seeing the idols reveal their faces. The girls were also surprised that Yunjin knew all of their names.

For the episode’s mission, the trainees were tasked to cover two of the girl group’s songs. Composed of four to five trainees each, two groups performed “ANTIFRAGILE” in front of the original singers. 

“Thank you for working on it so hard. I could feel the powerful energy,” Chaewon remarked. “Everyone’s facial expression was great. It was amazing,” the leader added.

Next, two more groups showcased their “FEARLESS” performances. “I could clearly see what moves you were showing,” Eunchae commented. Kazuha added that the contestants were able to show their charms, too.

LE SSERAFIM’s warm advice for the dreamers

After the performances, LE SSERAFIM and the trainees sat down for a little chit chat.

First, trainee Sophia voiced out her worries about maintaining friendship with the other trainees, despite knowing that not all of them are making it to the final debut lineup. Yunjin then advised them to do their best individually and still continue rooting for each other. “I think goodbyes are unfortunately inevitable but I think that is a part of growing,” she said.

On the other hand, one contestant asked how Kazuha is able to look good while dancing on stage. Kazuha then answered, “I think the most important thing is to enjoy the stage.” Additionally, the singer also advised them to expand their horizons by experiencing different genres of dance instead of focusing on just one.

Another contestant mentioned that she was experiencing a language barrier and wondered how the Japanese members Sakura and Kazuha overcame it. In response, Sakura said that language is not a big problem if the members have a connection with each other.

Bang PD visits ‘The Debut: Dream Academy’ too

Just while the girls were having a serious conversation, the trainees were caught off guard with another surprise visit from the HYBE Chairman himself, Bang Si Hyuk.

Bang PD first asked about the trainees’ trip to South Korea. Then, the trainees said that they enjoyed the Korean food and that they wished to visit Lotte World, which the producer generously granted.

Later on, trainee Karlee asked the producer about the most important thing to remember for aspiring artists. To which Bang PD provided a heartwarming answer.

“Before you become an artist, you should know what you really want to be,” he said. “From my perspective, you should love music itself, performing on stage, and making the fans happy.”

Ending on a good note, the trainees took a group photo with the LE SERRAFIM members and Bang PD. 

Featured image: ‘The Dream: Debut Academy’ contestants pose with LE SSERAFIM and Bang Si Hyuk. Credit: YouTube/HYBE Labels

 

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BTS’ Jungkook, Tomorrow X Together Celebrate VMAs Win With Bang PD

Bang PD hangs out with BTS' Jungkook and TOMORROW X Together. Credit: Instagram/Bang PD

It’s the time to have fun, ARMYs and MOAs as BTS’ Jungkook and TOMORROW X TOGETHER celebrated their first VMAs wins, as well as Yeonjun’s birthday with Bang PD! 

In a series of Instagram Stories uploaded by BIGHIT and HYBE Founder Bang Si Hyuk, the artists are seen having dinner together after the awards show with “Hitman Bang” himself.  

“They tore up the stage tonight,” Bang PD wrote, referring to TXT’s debut performance at the MTV VMAs. 

Aside from the awards, the BIGHIT family also celebrated Yeonjun’s 24th birthday. In another video, the singer is seen blowing out candles on his cake. In the caption, Bang PD wrote: “Happy Birthday, Yeonjun.” 

https://twitter.com/TXTSYBTHK/status/1701877414782202050

Moreover, Bang PD also shared videos of him with BTS’ Jungkook. As seen in his Instagram story, the two were throwing up random hand signs. Interestingly, Bang PD hinted that “There’s a spoiler! A big one,” in the said video. Which left fans guessing what it possibly meant, with many thinking that it’s for another solo release. 

https://twitter.com/_RapperJK/status/1701902427237097797

Prior to this video with Bang PD, Jungkook has already expressed his plans to release his first mini album in November. Additionally, in the Suchwita episode where Jungkook appeared as a guest, he also revealed that he is gearing up to drop new music later this year.

TXT and Jungkook’s VMA wins

With the recently concluded MTV VMAs, TXT made history as they became the first fourth generation group to win at the awards show. There, the group took home the Push Performance of the Year award for their track “Sugar Rush Ride.”

Moreover, TXT also wowed the crowd with the premiere performance of their pre-release single “Back for More”, featuring Brazilian singer Anitta. With this team up, TXT became the first K-Pop group to showcase a genre-fusing collaboration at the VMAs.

On the other hand, their fellow BIGHIT artist, BTS’ Jungkook also bagged his first VMAs win. Though he did not attend the event, the all-rounder singer took home the Song of the Summer title with his viral hit “Seven”, featuring Latto. With this, Jungkook became the first Korean solo artist to win in the category. 

Featured image: Bang PD hangs out with BTS’ Jungkook and TOMORROW X Together. Credit: Instagram/Bang PD

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