HYBE, BTS’s Home, to Notify Police Regarding Subsidiary Label Executives Post Audit

Korean entertainment powerhouse HYBE has announced its intention to report an executive from its subsidiary label ADOR to the police, following the launch of an audit. The move comes amid allegations of wrongdoing within the company.

Additionally, HYBE is requesting that ADOR’s CEO, Min Hee-jin, step down from her position. Min recently held a press conference in Seoul, where she vehemently denied accusations of interfering with the management of ADOR’s girl group, NewJeans. NewJeans, a highly successful girl group that topped the Billboard 200 chart, is currently gearing up for the release of their new single, “Bubble Gum.”

HYBE, known for being the home of the global sensation BTS, issued a statement regarding the situation on Thursday in Korea. The statement outlined HYBE’s decision to report CEO Min Hee-Jin to the police for breach of trust and related allegations, citing evidence gathered during the audit process. This evidence reportedly included discussions initiated by Min to assert control over ADOR’s management and pressure HYBE into selling its shares. Moreover, the audited parties allegedly attempted to seize control of ADOR’s management and sought external investors, while admitting to creating documents aimed at undermining HYBE.

In the midst of these developments, HYBE has reassured its commitment to providing support and care for its artist NewJeans, ensuring their well-being and upcoming comeback. The company also plans to engage with legal representatives of the involved parties to devise strategies for protecting the group’s interests.

Earlier this year, HYBE celebrated a significant milestone with annual sales reaching 2.17 trillion won (approximately US$1.6 billion) in 2023, marking it as the first K-pop agency to achieve this feat. During a conference call, HYBE attributed this success to robust album and concert sales by major artists such as Seventeen, Tomorrow X Together, NewJeans, Enhypen, and BTS members as soloists.