Tag: HYBE

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NewJeans Condolence Wreaths Protest Organized by “Bunnies”

NewJeans on Instagram

Fans supporting ADOR CEO Min Hee Jin organize a NewJeans condolence wreaths protest, ignoring internal and external criticism

NewJeans’ fans, known as “Bunnies,” plan to protest at HYBE’s headquarters by sending condolence wreaths, a gesture traditionally used for funerals. The protest, scheduled from July 30 to August 1, reflects tensions between fans loyal to ADOR CEO Min Hee Jin and HYBE over ongoing conflicts. Despite knowing this event clashes with a LE SSERAFIM member’s birthday celebration at the same location, organizers decided to proceed, drawing significant criticism.

Members of the NewJeans gallery on DC Inside, an online community supportive of Min Hee Jin, initiated the protest. They announced the event on July 27, two weeks after LE SSERAFIM’s fans revealed plans for Kim Chae Won’s birthday festivities at HYBE, which include a “wrapping bus” and other celebratory activities.

The public argues that sending condolence wreaths during a birthday event creates a disturbing contrast, but organizers dismissed these concerns. LE SSERAFIM’s fans requested a change in the protest date, but NewJeans fans refused, pointing out that BTS’s fandom, ARMY, held a similar protest during a NewJeans member’s birthday. This is just among the controversies that pile up in relation to Min Hee Jin and HYBE.

Protest supporters believe their demonstration doesn’t directly involve LE SSERAFIM and should not interfere with the birthday event. However, many K-pop fans fear this protest could harm NewJeans’ reputation and create unnecessary conflicts. Additionally, tensions within HYBE remain high as Min Hee Jin faces separate legal battles with Source Music CEO So Sung Jin, who has accused her of embezzlement and filed a lawsuit demanding 500 million KRW (approximately 361,724 USD) in damages.

As the protest approaches, the K-pop community continues to monitor how both fandoms handle these overlapping events. The outcome could set a precedent for future fan demonstrations and their impact on K-pop artists.

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NewJeans Fans Protest HYBE’s Alleged Information Leaks

NewJeans fans stand in front of HYBE headquarters over alleged information leaks and media manipulation

NewJeans fans took action by sending protest trucks to HYBE’s headquarters, voicing their concerns over recent allegations against the company. Fans, who call themselves “Bunnies,” organized the protest after hearing that HYBE had allegedly leaked confidential information about NewJeans to Dispatch and other media outlets.

The protest trucks stationed in front of HYBE’s building displayed strong messages condemning the company’s actions. Fans accused HYBE of intentionally leaking sensitive information and manipulating media coverage to their advantage. One truck displayed the message, “Leaking information to YouTube channels and reverse viral marketing to yellow journalism, illegal personal information leaks by HYBE—above the law and human rights?”

Another message directly addressed HYBE’s leadership, including Bang Si Hyuk and Park Ji Won, demanding that they take responsibility and issue an apology. The fans’ protest underscored their support for NewJeans and ADOR while calling on HYBE to stop what they see as illegal and unethical practices.

This protest demonstrates the Bunnies’ commitment to protecting NewJeans and holding HYBE accountable for actions that they believe could harm the group. Fans are determined to ensure that their voices are heard and that HYBE ceases any actions that could negatively impact NewJeans.

The dispute between HYBE and ADOR, the label responsible for managing NewJeans, has intensified as fans grow increasingly concerned about the handling of the group’s information. Tensions escalated when allegations surfaced that HYBE, the parent company of ADOR, had leaked confidential details about NewJeans to media outlets like Dispatch.

Fans believe that this breach of trust undermines the group’s integrity and puts their privacy at risk. The conflict highlights the challenges within the management structure, where decisions by HYBE may not always align with ADOR’s interests, leading to growing dissatisfaction among the fanbase.

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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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HYBE Stock Prices Plummet After New CEO Announcement

HYBE’s financial troubles seem unrelenting this year, with the company’s stock prices plunging to unprecedented lows following the new CEO announcement.

Did The New CEO Announcement Cause HYBE Stock Prices to Plummet?

Earlier this week, it was revealed that Lee Jae Sang, the current Chief Strategy Officer (CSO), will replace Park Ji Won as HYBE’s CEO. This decision was met with disapproval from fan communities, as Lee’s past controversies resurfaced almost immediately after the news broke. The stock market also reacted negatively to this sudden leadership change, with HYBE stock hitting its lowest price in 18 months on Thursday, July 25.

HYBE shares closed at ₩170,000 KRW (approximately $123 USD) on Thursday, marking the lowest point since January 2023. This decline occurred just a day after the announcement of Lee Jae Sang’s appointment as CEO. The stock had previously been recovering from a dip caused by BTS’s hiatus announcement.

Who is Lee Jae Sang?

HYBE has yet to hold its shareholder and board meetings where the final decision to appoint Lee Jae Sang as the new CEO will be made. Lee joined HYBE in 2018, back when it was still known as Big Hit Entertainment.

Following the disclosure of Lee’s appointment, numerous allegations against him began circulating on community sites. These allegations included accusations of “threatening” ADOR’s former vice president and coercing them into revealing private conversations with CEO Min Hee Jin. Additionally, Lee has faced criticism for his involvement in acquiring Ithaca Holdings while he was the CEO of HYBE America, as well as for co-establishing an NFT company aimed at creating NFTs using HYBE artists.

The acquisition of Ithaca Holdings in 2021 has been particularly contentious. HYBE America has reported significant net losses for two consecutive years following the purchase. The losses amounted to ₩70.1 billion KRW (approximately $50.8 million USD) in the first year and ₩142 billion KRW (approximately $103 million USD) in the second year. This acquisition has been viewed by many as a financial misstep, contributing to HYBE’s ongoing struggles.

HYBE America’s investment in the NFT company Levvels has also proved to be a financial burden. In 2023, the investment generated an operating loss of ₩18.0 billion KRW (approximately $13.0 million USD). The financial strain continued into the first quarter of 2024, with the company recording a loss of ₩3.50 billion KRW (approximately $2.53 million USD).

What Will Happen to HYBE?

The controversies and financial losses associated with Lee Jae Sang have understandably caused concern among investors and fans alike. His past decisions and the financial repercussions of those decisions are now being scrutinized more than ever as he steps into the role of CEO. The market’s reaction to his appointment reflects a broader uncertainty about the future direction of HYBE under his leadership.

As HYBE prepares for its upcoming shareholder and board meetings, the company faces the dual challenge of restoring investor confidence and addressing the internal and external criticisms leveled against its new CEO. The outcome of these meetings and the company’s subsequent actions will be crucial in determining whether HYBE can navigate through these turbulent times and regain its footing in the competitive entertainment industry.

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HYBE Employees Talks About Min Hee Jin’s Text Leaks

The recent leak of private KakaoTalk messages from ADOR CEO Min Hee Jin has ignited controversy, sparking widespread discussion across online communities. Reactions have been mixed, with some netizens criticizing the harsh language Min Hee Jin allegedly used towards NewJeans members, while others continue to support her.

Insider reactions to the controversial leaks of private messages reveal a divide in opinions within the company

HYBE employees have also weighed in on the situation, offering their perspectives as insiders within the company. Many have expressed support for Min Hee Jin, condemning HYBE for exposing her private conversations. These opinions were shared on BLIND, an anonymous platform where employees can comment openly after verifying their employment through work email credentials.

One employee questioned the motivations behind the leaks, stating, “Is Min Hee Jin running for president or something? Why is she being exposed so much? If you’re going to criticize, do it openly. It’s not good to see such a biased situation.”

Another criticized HYBE’s handling of the situation, suggesting that the company’s actions could harm its own artists and disrupt the entertainment industry as a whole. “HYBE’s media play has crossed the line as a big company,” they wrote. “It seems like it’s time for the Ministry of Culture, Sports and Tourism or the Board of Audit and Inspection to intervene and stop HYBE’s reckless actions.”

Despite the controversy, some employees believe that Min Hee Jin will remain resilient. One commented, “HYBE is mistaken if they think this can shake Min Hee Jin. She’s someone who has already unabashedly cursed during a press conference. Even if they’re using Dispatch to play up her harsh words on KakaoTalk now, it won’t really affect her much.”

As the fallout from these leaks continues, the divide within HYBE and among fans highlights the complexities of navigating public and private boundaries in the entertainment industry.

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SM Entertainment Faces Accusations of Stirring HYBE Conflict

Reports reveal that SM Entertainment allegedly manipulated public opinion against rival label HYBE. Accusations suggest that SM Entertainment hired a public relations firm, Astraphe, during its escalating conflict with HYBE.

SM Entertainment allegedly manipulated public sentiment against HYBE

Leaked Telegram conversations indicate that Astraphe created a dedicated chat room for their viral marketing staff and SM employees. This chat room allegedly aimed to generate positive sentiments towards their company while spreading negative about HYBE.

Financial records show that SM paid Astraphe a staggering 1.38 billion won, approximately $995,699.81 USD. Although SM Entertainment claimed the money was for banner advertisements, insiders say viral marketing activities began on March 1. The Telegram leaks reveal an SM employee urgently requesting quick viral marketing action, and Astraphe agreed.

Additionally, the alleged strategies included sharing positive articles about SM Entertainment. However, it contained negative ones about HYBE in various online communities.

They reportedly used scare tactics to make fans worry SM Entertainment artists might be disbanded or released if HYBE took over. In a fan cafe post, one statement read, “As an SM fan, I think it could be worse if HYBE takes over. HYBE will demand management rights, and SM artists might not get opportunities.” Astraphe’s employees reportedly made sure their posts appeared as if they originated from genuine netizens.

The viral marketing reportedly persisted for a month, with Astraphe’s employees editing their posts to sound like real user interactions to avoid detection.

Furthermore, the company responded to the allegations by clarifying their motives. In an official statement, the company said, “We conducted online marketing activities. This was through an outside agency to promote the SM 3.0 shareholder proposal and proxy solicitation website. The activities included sharing related articles on online communities. This was part of a ‘media mix’ proposal from the agency with little impact on the campaign.”

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ADOR Denies Poaching NewJeans and Accuses HYBE of Providing False Information to Dispatch

On July 23, ADOR strongly denied allegations that they had poached NewJeans trainees from Source Music to form NewJeans. The agency announced plans to take legal action against HYBE and Dispatch, the media outlet responsible for the report.

ADOR refutes claims of poaching NewJeans and plans to take legal action against HYBE and Dispatch

ADOR stated, “The contents of the article in question are false and reconstructed based on speculation. We will take strong legal action against these false claims.” They emphasized that HYBE and Source Music cooperated in providing false information. They argue that the reported details, such as internal meeting records, task divisions, and personal KakaoTalk messages, are impossible to publish accurately.

In addition, ADOR criticized HYBE and Source Music for exposing the personal information of former trainees and artists without consent. This included medical records and demo tapes. They emphasized that Source Music had ended the trainee contracts and did not permit the use of likenesses or voices.

Furthermore, ADOR announced plans to pursue strong legal action against HYBE and Source Music for their unethical behavior. “The trainee contracts between Source Music and NewJeans members have ended, and there was no agreement permitting the use of their likenesses or voices. Thus, Source Music’s release of trainee videos through media is a severe illegal act. It violates the members’ portrait rights. We request immediate measures to protect the artists,” ADOR stated.

Previously, a media outlet reported that Min Hee Jin took NewJeans members, who were Source Music trainees, to debut under ADOR. The report included messenger conversations and videos of the trainees, leading to the current controversy.

Contrary to Dispatch’s claims, the indefinite postponement of Team N’s debut due to Min Hee Jin’s alleged negligence is far from the truth. To clarify the situation, ADOR released emails from 2021. The timeline provided by ADOR is as follows:

  1. In March 2020, BigHit’s marketing team proposed a launch strategy for ‘Team 21.’ Min Hee Jin found the direction unsuitable and prepared an alternative strategy.
  2. In May 2020, Min Hee Jin presented her launch strategy, which Bang Si Hyuk praised but deemed too ambitious for Source Music’s infrastructure. He suggested Min Hee Jin’s label handle the project.
  3. In August 2020, Source Music re-proposed an initial plan, largely copying Min Hee Jin’s strategy. Complaints arose, and Source Music acknowledged the issue.
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Dispatch Accuses Min Hee Jin of Stealing NewJeans

The K-pop industry is no stranger to controversy, and recent allegations by Dispatch have set the stage for yet another scandal. Dispatch has accused Min Hee Jin of allegedly stealing the group NewJeans. These revelations have stirred up quite a storm among fans and insiders.

NewJeans CEO Min Hee Jin and HYBE dispute continue

According to Dispatch, Min Hee Jin, who previously worked at SM Entertainment and is now a significant player at ADOR, supposedly appropriated creative ideas and managerial rights related to NewJeans. The accusation is that she took these concepts without proper authorization or acknowledgment, raising eyebrows across the industry.

Meanwhile, Min Hee Jin has responded strongly to the allegations. In a public statement, she said, “These accusations are baseless and aimed at tarnishing my reputation. I have always worked ethically and within the parameters set by the companies I’ve been affiliated with.” However, her denial has not yet silenced the growing talks of the public.

Interestingly, this is not the first time Min Hee Jin has been the center of attention. The ADOR CEO has played a crucial role in shaping the careers of several successful K-pop artists. This latest allegation, however, puts a dark cloud over her otherwise celebrated career.

Fans are divided in their reactions. Some stand firmly behind Min Hee Jin, emphasizing her contributions to the industry and dismissing the accusations as unfounded. Others are more skeptical, calling for a thorough investigation to bring the truth to light. Social media platforms are abuzz with debates and discussions, reflecting the high stakes and emotional investments involved.

As the story continues to unfold, the K-pop community remains on edge. The resolution of this controversy will likely have far-reaching implications, not just for Min Hee Jin and NewJeans but for the broader K-pop industry as well. Whether these accusations hold water or fade away will be carefully watched by fans and the public.

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Park Ji Won Announces Resignation as HYBE CEO

In an unexpected announcement, Park Ji Won has revealed that he will step down as the CEO of HYBE. He also confirmed his successor in the same statement.

Park Ji Won Steps Down as HYBE CEO

In his statement to the HYBE staff, Park explained the rationale behind this leadership transition, emphasizing the need for fresh perspectives and new strategies to drive the company forward in an ever-evolving industry.

“We determined that a new leadership was necessary to actively prepare for and respond to HYBE’s future, and lead the new changes,” he said.

It was also confirmed that Lee Jae Sang will replace Park as the new HYBE CEO.

“Following that plan, Lee Jae Sang has been preparing to be the new CEO and the right person to lead HYBE 2.0 since the beginning of this year,” Park added.

“The direction for the new leadership and organizational changes has been a subject of long consideration and discussion. Mr. Lee is the right person to effectively implement HYBE’s mid-to-long-term growth strategy, inheriting HYBE’s vision, mission, and core values while leveraging his domestic and international business network. I sincerely support HYBE’s new leadership and new changes, and as a member of HYBE, I will continue to contribute to HYBE’s future in areas where I can utilize my expertise and network.”

Park Ji Won joined HYBE as CEO in May 2020, bringing with him a wealth of experience from his successful tenure at Nexon. During his time at HYBE, he played a pivotal role in the company’s significant milestones, including its IPO process, rebranding, and the establishment of a multi-label system. These initiatives have been instrumental in HYBE’s rapid growth and global expansion, solidifying its position as a major player in the entertainment industry.

A New Future for HYBE?

Park Ji Won expressed confidence in Lee Jae Sang’s ability to lead the company into its next phase. He highlighted Lee’s extensive experience and vision, which align with HYBE’s goals and aspirations. This leadership change marks a significant moment for HYBE, as it continues to innovate and adapt in the dynamic world of entertainment.

The transition in leadership is seen as a strategic move to ensure that HYBE remains at the forefront of the industry, continuing to deliver groundbreaking projects and nurture its diverse portfolio of artists. As Lee Jae Sang steps into his new role, the company and its stakeholders are looking forward to the continued success and growth under his leadership.

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Min Hee Jin Files Defamation Lawsuit Against HYBE Executives

Min Hee Jin has taken legal action against HYBE Labels. The ADOR CEO has just filed a defamation lawsuit against several HYBE executives including the outgoing CEO Park Ji Won.

Min Hee Jin Defamation Lawsuit VS HYBE Includes Park Ji Won

This development follows allegations reported by Dispatch, which were based on KakaoTalk messages between Min Hee Jin and a shaman. Dispatch accused Min Hee Jin of stealing NewJeans members from Source Music. The report claimed that Min Hee Jin was initially involved in the branding of Source Music’s “N team” trainee debut project. Allegedly, she delayed the N team’s debut to prioritize the debut of NewJeans.

Min Hee Jin has firmly denied these accusations, asserting that the allegations are unfounded and based on illegally obtained personal KakaoTalk messages. In response to the claims, she announced her intention to pursue legal action to address the situation and protect her reputation.

ADOR has since issued a statement confirming Min Hee Jin’s intent.

“ADOR’s CEO Min Hee Jin and others have filed a lawsuit today (July 24) at the Yongsan Police Station against HYBE CEO Park Ji Won, Audit Committee Chairperson Lim Soo Hyun, Chief Legal Officer Jung Jin Soo, Chief Financial Officer Lee Kyung Joon, and Chief Communication Officer Park Tae Hee for defamation,” the statement read.

“The accused have repeatedly engaged in the unauthorized dissemination of private messenger conversations and personal information obtained illegally, maliciously editing them to fit their narrative,” it added.

Another Legal Battle

By filing lawsuits against the HYBE executives, Min Hee Jin is also taking a strong stance against the dissemination of what she considers false information.

This legal move underscores the seriousness with which Min Hee Jin is addressing these allegations. It also highlights the complexities and tensions within the industry, especially regarding the management and debut of trainee groups. The outcome of these lawsuits could also have significant implications for the involved parties and the broader K-pop industry.

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