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The battle for power between HYBE and Min Hee Jin has intensified, with shareholders bearing the brunt as Bang Si Hyuk’s share prices hit new lows. The ongoing feud between the K-pop giant and its subsidiary is affecting the market value, with HYBE’s share price falling below 200,000 won, Korean media outlets report. In addition, the BTS label also plans to ask for a Financial Supervisory Service investigation into alleged stock trading violations by ADOR authorities.
Also Read: HYBE Says ‘Greedy’ Min Hee-jin Planned Email By Parents Of Newz Members: We Have Proof
HYBE stock shares fall amid Min Hee Jin fight
On May 13, the same day that an email came out citing claims from NewJeans’ parents about HYBE’s alleged misconduct and exploitation, HYBE’s share price fell to 7,700 won, and according to All Kpop’s report Reached the 190,000 won range. What’s even more worrying is that the Bang Si Hyuk label, which has international appeal, is seeing a steady decline. Just 20 days ago, the stock fell to 240,000 won.
Will HYBE suffer more financial shocks?
The fall in shares is directly affecting the shareholders. As the case involving ADOR’s current CEO Min Hee Jin continues to drag on, various market experts have predicted further deterioration in the financial aspect, with some even speculating about a possible drop to 100,000 won.
HYBE to request investigation into alleged stock trading misconduct
The K-pop agency behind popular groups like BTS, SEVENTEEN, ENHYPEN, NewJeans is reportedly considering requesting a stock market investigation by the Financial Supervisory Service, Korea Economic Daily reports. Officials at the agency, ADOR, including a vice president, are accused of violating securities laws. The request also targets CEO Min Hee Jin and other executives, accusing them of illegal trading to manipulate the stock price.
Also Read: NewJeans’ parents expose HYBE for ‘exploitation and abuse’ in new report
HYBE appoints new CEO for ADOR
The company has reportedly requested an emergency shareholder meeting on May 31. Earlier reports had surfaced citing HYBE’s selection of a new ADOR CEO and the entire management team, with plans to remove Min Hee Jin from his position. The company has reportedly appointed new management for its subsidiary, and if the meeting goes in HYBE’s favor, a major change for Min Hee Jin is inevitable.
