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| yna@yna.co.kr 2024-04-23 09:06:40
SEOUL, April 23 (Yonhap) -- The conflict between the leading domestic entertainment company HYBE and Min Hee-jin, CEO of ADOR, who discovered and produced the top girl group NewJeans in the K-pop market, is drawing attention.
The tensions within HYBE, emphasizing a 'multi-label system,' between the headquarters and its subsidiary labels, are unprecedented, and all eyes are now on the potential impact this could have, especially with NewJeans gearing up for a comeback.
According to sources in the music industry on the 22nd, HYBE began a sudden audit targeting Min Hee-jin and another management executive, A, under the pretext of an 'attempt to seize management control.'
Currently, ADOR's ownership is 80% held by HYBE, with the remaining 20% owned by Min and others.
It is suspected that HYBE believes Min and A were attempting to attract investors by leaking confidential contract documents and encouraging the sale of ADOR shares held by HYBE.
However, given the significant disparity in ownership percentages, it appears challenging for Min and her team to engage in a 'shareholder battle.'
In response, Min released an official statement refuting allegations related to 'NewJeans copying ILLIT.'
There were previous comparisons between ILLIT and NewJeans, suggesting similarities in the composition of the group and certain scenes in music videos. Min asserted, "Bang Si-hyuk of HYBE produced ILLIT's debut album," claiming that the issue was not solely the responsibility of ILLIT's label, Believe, but also involved HYBE.
Min used strong language, even suggesting that ILLIT was intended as a derivative concept, highlighting the problem.
Min, known for overseeing the concepts and branding of famous idol groups like Girls' Generation, SHINee, and EXO under SM Entertainment in the past, brought her unique vision and expression to the music industry.
After joining HYBE, Min also managed branding and design for the Yongsan headquarters.
Min's approach of striving for perfection in K-pop, sometimes with bold rhetoric and unreserved speech, has often sparked discussions.
Given Min's outspoken nature and distinctive creative abilities, speculation arises beyond the official audit reasons of 'suspicion of attempted corporate takeover,' suggesting deeper emotional rifts between the parties.
In a January 2022 interview with Cine21, Min stated, "People easily talk about 'HYBE capital,' but personally, I disagree with that expression," sparking various interpretations.
This statement, alongside the success story of NewJeans, potentially due to ADOR's or her individual contributions rather than solely the capabilities of the top planning company HYBE, contributed to such speculation.
Min mentioned, "Once the investment decision was made and concluded, the actual specific label management strategies thereafter were independent of HYBE," citing the presence of similar investment proposals outside of HYBE.
In fact, unlike other HYBE artists who exclusively use the fan community platform 'Weverse,' NewJeans uses its own exclusive app, 'Poning.'
Min expressed her desire to break away from standardized content and styles within the large-scale planning companies in the K-pop market.
A music industry insider described Min as someone with a strong sense of judgment and distinctive creative abilities.
HYBE commenced the audit to secure ADOR's computer assets and demanded Min's resignation.
However, Min clarified that she has no intention of resigning, stating, "I will use all possible means and methods to protect the cultural achievements NewJeans has achieved and prevent further infringements due to copying."
Therefore, whether evidence can be secured through computer data analysis is likely to be crucial.
NewJeans is scheduled to release a new single on April 24 and will unveil the music video for their new song 'Bubble Gum' on April 27. Given Min's significant influence on NewJeans' production and activities, concerns have arisen regarding the timing of these developments just before their comeback.
A music industry source commented, "Incidents like this are always possible under a multi-label system. We must await the investigation results."
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