Rising K-pop girl group NewJeans has taken a firm stand against their parent company, HYBE, demanding the reinstatement of their producer, Min Hee-jin, as CEO of their label, ADOR. This move comes after Min’s sudden dismissal, sending shockwaves through the K-pop community and potentially reshaping artist-label dynamics in the industry.
Unexpected Leadership Change at ADOR
HYBE’s announcement of Min Hee-jin’s removal as ADOR’s CEO caught NewJeans off guard. The group learnt about the change through media reports, not directly from the company. ADOR’s board of directors appointed Kim Ju-young as the new CEO, while Min retained her role as chief producer. This decision aimed to separate management and production responsibilities within the label.
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NewJeans’ Public Appeal
In response to the leadership change, NewJeans took to YouTube for a surprise live stream. The group urged HYBE to reinstate Min Hee-jin by 25 September, expressing their frustration and disappointment with the company’s unilateral decision. Hyein, a member of the group, highlighted the lack of respect they felt from HYBE. Minji, another member, emphasised their desire to maintain ADOR’s original structure and called on HYBE’s founder, Bang Si-hyuk, to intervene.
The group set a two-week deadline for their demands to be met, hinting at possible legal action if their requests went unfulfilled. Entertainment lawyer Chong Kyong-sok explained that while the timeframe might not be legally binding, it could indicate the group’s preparation for an injunction to suspend their exclusive contract with the label.
Financial Impact and Legal Battles
The conflict between NewJeans, Min Hee-jin, and HYBE has already had significant financial consequences. Following NewJeans’ announcement, HYBE’s shares dropped by up to 6.2%, contributing to a 27% decrease in market value since the dispute began in April.
HYBE has taken legal action by filing a lawsuit to confirm the termination of Min’s shareholder agreement. The company maintains that the board’s decision was independent and unrelated to the parent company. In response, Min Hee-jin has filed an injunction seeking reappointment, arguing that her dismissal violated a shareholder agreement guaranteeing her a five-year term as CEO. She is also preparing for further legal action against HYBE.
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Implications for the K-pop Industry
This public dispute has brought attention to the complex power dynamics within the K-pop industry. The situation draws parallels to previous legal battles involving popular groups like TVXQ and Loona, where artists sought to terminate their contracts through court injunctions. The outcome of this conflict could set a significant precedent for future artist-label relationships in the industry.
As the 25 September deadline approaches, fans and industry insiders are closely watching how this high-stakes drama will unfold. The future of NewJeans, their creative direction, and HYBE’s financial stability and reputation in the competitive world of K-pop are all at stake.
