HYBE’s shares take a hit as the CEO of NewJeans’ label ADOR denies leading plans to go independent. Earlier this week, HYBE launched an internal probe, accusing Min of breach of trust.
Full story: https://www.rappler.com/entertainment/korean-popular-music/hybe-shares-hit-dispute-new-jeans-ador-label/
Full story: https://www.rappler.com/entertainment/korean-popular-music/hybe-shares-hit-dispute-new-jeans-ador-label/
Category
🎵
MusicTranscript
00:00Korean music executive and CEO of Adore label Min Hee-jin denies allegations she was trying
00:07to break her label away from South Korea's biggest music firm, HYBE.
00:12Adore is credited with creating K-pop group New Genes.
00:15Earlier this week, HYBE launched an internal probe and accused Min of breach of trust.
00:21On Thursday, April 25, Min says she is not plotting to break away from the company, denying
00:26HYBE's claims she was leading plans to go independent.
00:30This internal dispute causes HYBE's shares to fall more than 5% Friday morning.
00:36It is also seen to dampen expectations for an upturn from new releases by New Genes,
00:41as well as the return of some BTS members from mandatory military service.
00:46Min and other executives own a 20% stake in Adore, while HYBE owns 80%.