Manchester United will look to move back up to sixth in the Premier League when they travel to Crystal Palace on Monday.
24.04.2024 - 08:11 / variety.com
Patrick Frater Asia Bureau Chief HYBE Corp., the biggest corporation in the South Korean pop music scene, has begun an audit into ADOR, the label responsible for K-pop act NewJeans. HYBE says that executives at the majority-owned subsidiary mya be attempting to break away from the conglomerate.
“HYBE invoked the right to audit CEO Min Hee-Jin and top executives of its subsidiary label ADOR, called them to summon a shareholder meeting and sent an official letter to ask CEO Min to step down,” HYBE said in a statement emailed to Variety.
Media sources in Korea have reported that the audit targets Min and one of her deputies and that computer assets have been seized and face-to-face statements already taken.
They also report that HYBE suspects Min and her deputy to have circulated confidential information to outsiders in a possible bid to attract investors who would allow ADOR to gain its independence from the parent company.
ADOR was founded in 2021 as a HYBE subsidiary and is currently 18% owned by Min, a renown hit-maker in the Korean music industry.
Min issued her own statement describing the allegations as “an absurd media play” and as punishment for her criticism of Belift, another Hybe label.
“They are trying to dismiss me as I took issue with [recently-launched girl group] ILLIT copying NewJeans,” Min’s statement said.
HYBE’s CEO Park Ji-won, countered that assertion with an email sent to company staff and which was subsequently leaked to Korean media. “Most of what they are claiming is not true or groundless,” Park said in the email.
Manchester United will look to move back up to sixth in the Premier League when they travel to Crystal Palace on Monday.
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HYBE have refuted claims that were made by ADOR CEO Min Hee-jin in a new statement.Yesterday (April 25), Min Hee-jin, the CEO of NewJeans agency ADOR, which is also a subsidiary of HYBE, held a press conference where she denied claims by HYBE that she planned to take over the K-pop label. The music executive also levied other accusations against the entertainment giant.HYBE has since responded to Min’s press conference in a statement, per MyDaily and translated by Soompi, alleging that “so much [of what Min claimed during the press conference] is far from the truth to the point that it is difficult to go through them one by one”.The entertainment giant also alleged that the ADOR CEO had “distorted the facts by mixing up the timeline”, while claiming that they “can refute all claims with evidence”.
Korea JoongAng Daily, the music executive said that she “was not expecting” the audit of ADOR launched by HYBE on Monday (April 22), claiming that she had initially made an “internal report [about the similarities between NewJeans and Belift Lab group ILLIT]” in hopes of it being “addressed formally by the company”.“My goal has always been to [do] my work in a clean, confident way. That’s been my focus and it’s been difficult for me to talk about the things that interfered with my work,” Min added, while refuting HYBE’s claims that she tried to “hijack control” of ADOR.
HYBE has said that it will file a complaint against executives of K-pop agency ADOR, including CEO Min Hee-jin, over a breach of trust and other allegations.Today (April 25), HYBE announced that it would file a complaint against Min Hee-jin, the mastermind behind K-pop girl group NewJeans, and other executives of ADOR.
HYBE has claimed that it has found evidence that ADOR CEO Min Hee-jin is trying to “seize control” of the K-pop agency, while the latter has described such a move as “impossible”.HYBE and Min Hee-jin have been in an increasingly public feud and power struggle over ADOR, the K-pop agency that’s best known as home to K-pop girl group NewJeans. The dispute was made public on Monday (April 22), after South Korean media reported that HYBE had launched an investigation against Min over alleged plans to take ownership of the label.HYBE CEO Park Ji-won has since claimed that it has discovered evidence that Min and other ADOR execs had plans to “seize control of the company” in an email to employees, per Yonhap News Agency, adding that HYBE would “take appropriate actions after confirming more [of the truth] through this audit”.Park added that HYBE’s current top priority is on “keeping its artists and other members safe”.
ADOR and entertainment giant HYBE.This is according to a new exclusive report by South Korean news outlet Korea JoongAng Daily, which cited a source with “knowledge in the matter”. This comes shortly after news that HYBE and ADOR CEO Min Hee-jin, the woman behind NewJeans, are in a power struggle over the K-pop agency.“NewJeans will make a comeback in Korea with a new single in May, whether or not ADOR CEO Min Hee-jin cooperates with HYBE,” the source told the publication.
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HYBE and ADOR CEO Min Hee-jin, the woman behind popular girl group NewJeans, are reportedly in a power struggle over the K-pop agency.Today (April 22), South Korean news agency Newsis reported that the audit team of entertainment giant HYBE had launched an investigation against ADOR CEO Min Hee-jin and an unnamed executive of the company. The latter had reportedly been part of HYBE’s investor relations team.According to the report, the two ADOR executives were allegedly caught leaking confidential information in order to attract investors as well as induce HYBE to sell its ownership of the K-pop agency.
ADOR CEO Min Hee-jin has accused South Korean entertainment giant HYBE of “undermining” the success of K-pop girl group NewJeans by creating a copycat version of the quintet.On Monday night (April 22), ADOR CEO Min Hee-jin accused HYBE, which owns the majority of the K-pop agency, of trying to “undermine” the success of its girl group NewJeans. The music executive’s statement came shortly after news broke that Min and HYBE were in a power struggle over ADOR.In her statement, the ADOR CEO accused HYBE of copying the “makeup, costumes, choreography, photos, videos and event appearances” of NewJeans for the new girl group ILLIT, who recently made their debut under HYBE subsidiary Belift Lab.“The cultural success of ADOR’s NewJeans is ironically being undermined by HYBE,” Min said, per Korea JoongAng Daily.
HYBE has dipped following the start of an internal audit of executives from its subsidiary, ADOR.Earlier today (April 22), it was reported that HYBE are reportedly in a power struggle over NewJeans’ K-pop agency ADOR with its CEO Min Hee-jin. The entertainment giant has since confirmed that it has launched an internal audit of ADOR executives over suspicions that they were trying to take control of the company.Since the news broke, the stock price of HYBE has dropped by 7.8 per cent as time of writing, hovering at a price of about KRW212,500 (roughly USD154).