South Korean entertainment giants, HYBE and ADOR, are embroiled in a power struggle and public feud over ADOR, the home of the popular K-pop girl group NewJeans. HYBE has alleged that ADOR CEO Min Hee-jin is attempting to seize control of the agency, while Min denies these claims.
HYBE CEO Park Ji-won has asserted that an internal investigation has uncovered evidence of Min’s alleged takeover plans. The evidence consists of emails suggesting a strategy to gain ownership of the label. HYBE plans to take appropriate action based on the findings of the audit.
However, Min Hee-jin has vehemently denied these accusations. She claims that the alleged evidence is merely personal reflections on the long-standing disputes between HYBE and ADOR. She further states that she has never sought investors to acquire management rights of ADOR, which is majority-owned by HYBE.
The unnamed deputy CEO of ADOR has also come forward, stating that the evidence presented by HYBE is nothing more than personal notes that have never been discussed with Min or other ADOR executives. The deputy CEO expressed regret that these notes were leaked to HYBE and presented as internal documents supporting a conspiracy theory.
Despite the ongoing feud, NewJeans is reportedly set to release new music in May and embark on a world tour in 2025. However, HYBE’s stock price has taken a hit since the dispute with ADOR became public, falling by nearly 9% on Monday and an additional 1.18% on Tuesday.
