HYBE Finally Reacts To The Ultimatum Given By NewJeans, Will They Grant Their Wishes Or Are They Heading For Contract Dispute?
Can HYBE and NewJeans reconcile?
On the 12th of September, HYBE held an extraordinary general shareholders’ meeting at the Korea Listed Companies Association in Mapo-gu, Seoul, where Lee Jae-sang was officially appointed as the new CEO.
During the meeting, CEO Lee addressed the controversy sparked by NewJeans members, who had conducted an emergency live broadcast the previous day, demanding the reinstatement of Min Hee-jin, the former CEO of ADOR, who oversaw their debut. Lee commented, “Although it may take time, we will respond calmly and in accordance with principles.”
NewJeans went live without ADOR’s knowledge on the 11th, publicly requesting that Min Hee-jin be reinstated by the 25th and that ADOR return to its pre-conflict state. The group expressed distrust in the current ADOR CEO, Kim Joo-young, accusing her of dismissing allegations of bullying within HYBE due to a lack of evidence.
Despite these demands, Min Hee-jin was removed from her position following a board decision, a move that is considered procedurally sound by ADOR.
Korean media outlets are interpreting Lee’s remarks in a way that suggest that HYBE is unlikely to meet NewJeans’ demands, with his emphasis on “principled management” signaling a refusal to overturn the board’s decision.
It remains to be seen how the situation between NewJeans and HYBE will unfold, but the company’s current stance appears to be firm.
What do you think the future holds for NewJeans?
Source: A
