HYBE, the leading K-pop agency, has launched a sudden audit into its subsidiary label, ADOR, which manages the popular girl group Newjeans.
According to the music industry on the 22nd of April, HYBE conducted an audit on CEO Min Hee-jin and the ADOR management, including a person known as Mr. A.
The audit team reportedly collected the company’s computer assets and secured face-to-face testimonies while investigating the responsibilities of the ADOR management.
A HYBE official stated, “It is true that the audit was conducted on the ADOR management, as there were suspicions that they were trying to take control of the management rights.”
It has been revealed that HYBE suspects that individuals such as Mr. A are attempting to gain control of the management rights and make independent moves.
ADOR is a label under HYBE, founded by CEO Min Hee-jin in 2021, with HYBE holding an 80% stake and the remaining 20% owned by CEO Min and other ADOR management members.
Meanwhile, Newjeans, the girl group managed by ADOR, recently won the “Group of the Year” award at the 2024 Billboard Women in Music Awards, becoming the first K-pop group to receive this recognition.
After analyzing the assets collected during the audit, HYBE plans to take legal action if necessary.
CEO Min Hee-jin, known for overseeing the concepts and brands of famous idol groups such as Girls’ Generation, SHINee, and EXO during her time at SM Entertainment, has gained a reputation in the music industry for her unique creativity and expression.
Since joining HYBE, Min has also been in charge of branding and design for the company’s new headquarters in Yongsan.
Under Min’s leadership, NewJeans made their debut in 2022 and released a series of hit songs such as “Hype Boy,” “Attention,” “Ditto,” and “OMG.”
The group’s comfortable music and distinctive “Y2K” sensibility have been praised for changing the landscape of the music industry. They have received numerous awards at various music award ceremonies in Korea and even reached the top of the Billboard 200 chart in the United States.
Min has been recognized for her achievements with awards such as the Seoul Culture Award, the Golden Disc Producer Award, and the 2023 Billboard Women in Music award.
In the middle of this mess, NewJeans is preparing for a comeback next month.
Source: (A)
