The K-pop entertainment industry has been abuzz with news of a brewing power struggle involving HYBE, the parent company of BTS, and its subsidiary, Big Hit Entertainment. The focus of attention has been on NewJeans' agency, ADOR (a subsidiary of HYBE), and its CEO, Min Hee Jin, with HYBE initiating an investigation into alleged misconduct within the agency. This move has sparked speculation and raised questions about the dynamics within the K-pop industry.
The investigation into NewJeans' agency, ADOR, and its CEO, Min Hee Jin, stems from concerns over potential breaches of trust and conflicts of interest. As a key player in the K-pop
ecosystem, NewJeans' agency holds significant influence over the careers of artists under its management. Min Hee Jin, in particular, is renowned for her creative vision and has played a pivotal role in shaping the aesthetics and branding of various K-pop groups.
It was reported that HYBE received a tip-off indicating that ADOR's CEO and Vice President were contemplating a move to take control of management rights. Presently, HYBE holds an 80% stake in ADOR, with the remaining shares owned by ADOR's executives, including CEO Min Hee Jin.
The power struggle between HYBE and NewJeans' agency is rooted in differing perspectives on management and creative control. While HYBE seeks to exert greater oversight and ensure alignment with its strategic objectives, NewJeans' agency and its CEO may be pushing back against perceived interference in their operations. This clash of interests has led to tensions and prompted HYBE to take action in order to safeguard its interests and maintain control over its subsidiaries.
Further, HYBE took decisive action against CEO Min Hee Jin and other executives of its subsidiary, ADOR. Allegedly, HYBE discovered that CEO Min Hee Jin was spearheading efforts to seize control of ADOR, prompting the parent company to demand a shareholder meeting to address the situation. The shareholder meeting was reportedly convened by HYBE with the intention of calling upon CEO Min Hee Jin to step down from her position and reprimand her and other executives believed to be involved in the takeover plan.
As the power battle between HYBE and ADOR's current leadership unfolds, industry observers and fans alike are closely monitoring the situation for further developments. The outcome of the shareholder meeting and any subsequent actions taken by HYBE and ADOR will likely have far-reaching consequences, shaping the future landscape of the K-pop industry and the relationship between parent companies.
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