The donation, given on behalf of ADOR and NewJeans, will go towards assisting low-income college students with their living and housing expenses.
On June 6th, industry sources confirmed that popular groups such as NewJeans can earn up to 50 million won for each festival performance. A university representative clarified that hiring a highly sought-after performer can cost anywhere from 30 million to 50 million won. As NewJeans was hired to perform at seven universities, including Korea University, Chosun University, Dongguk University, and Chung-Ang University, their total earnings from these appearances are estimated to be around 350 million won, which is approximately equal to the cost of a single apartment.
According to the “April National Housing Price Trends Survey”conducted by the Korea Real Estate Board, the median price of apartments in the country is 321 million won, with even lower prices of around 250 million won in provincial areas. The average apartment price in the nation is approximately 450 million won, while provincial areas have an average price of 256 million won.
During the recent festivals, NewJeans showcased their latest tracks including “How Sweet” and “Bubble Gum” , alongside their popular songs. Both ADOR and NewJeans expressed their gratitude for the chance to perform at seven university festivals within a week, as it not only provided them with immense support and love but also allowed them to give back to college students in need. They were thankful for the opportunity given to them.
During the press conference on May 31st, ADOR CEO Min Hee-jin reiterated, “Our decision to participate in university festivals was mainly driven by our need to gain more stage experience for our upcoming world tour next year. Unfortunately, there have been some misconceptions that we are only doing this for financial gain. However, our true intention is to demonstrate our sincerity by donating all earnings from these performances.”
During the press conference, Min Hee-jin’s eyes welled up as she expressed her hope for reconciliation with HYBE. She emphasized the importance of finding a mutually beneficial solution, stating, “A corporation is not governed by one person alone, but by a group of shareholders. As the CEO of subsidiary ADOR, I am committed to faithfully and seamlessly executing the plans I have with NewJeans. I urge HYBE to take this into consideration and work with us towards a satisfactory compromise.”
Min Hee-jin emphasized the achievements of NewJeans, questioning, “Can it be considered disloyalty if NewJeans has accomplished in two years what boy groups usually take seven years to achieve?”She then reached out for reconciliation with HYBE, expressing, “Although there may have been conflicts, let us not harbor any resentments.”
Although the court granted Min Hee-jin’s injunction to protect her voting rights and remain in her position, HYBE, which has an 80% ownership of ADOR, terminated two of CEO Min’s internal directors and appointed their own executives, including CHRO Kim Joo-young, CSO Lee Jae-sang and CFO Lee Kyung-joon, as new internal directors.
Leave a Reply