HYBE CEO Lee Jae-sang Stands Firm Against NewJeans’ Requests, Highlights Commitment to Principles

This decision signals that the current situation will not impact HYBE 2.0’s strategic direction.

HYBE conducted its first extraordinary shareholders’ meeting on the morning of September 12th at the Korea Listed Companies Association building in Mapo-gu, Seoul. The meeting focused on three key agenda items: the appointment of Lee Jae-sang as an inside director, the granting of stock options, and approval of previously granted stock options by the board of directors. All agenda items were approved, and following a board meeting, Lee Jae-sang officially became the CEO.

After the meeting, CEO Lee stated, “It will take time, but we are responding calmly and according to principles. HYBE is a company that upholds principles and pursues transparent management, and this stance remains unchanged. Looking back, those who adhered to their principles have always emerged victorious.”

This indicates that HYBE will continue to maintain its separation of production and management while operating its multi-label system, despite the ongoing situation with ADOR.

Essentially, this is viewed as a rejection of NewJeans‘ demands. The previous day, NewJeans made an appearance on a YouTube broadcast, advocating for the return of Min Hee-jin as ADOR’s CEO by September 25th, stating, “What we desire is the original ADOR where Min Hee-jin was both the CEO and the producer.”

Source: theqoo