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| ▲ This profile photo, provided by Hybe on May 2, 2024, shows the K-pop behemoth's CEO, Park Ji-won. (PHOTO NOT FOR SALE) (Yonhap) |
SEOUL, May 2 (Yonhap) -- Park Ji-won, CEO of K-pop mammoth Hybe, stated on the 2nd that he will mull ways to improve the controversial "multi-label system," an issue deeply linked to the ongoing conflict with the head of the sublabel ADOR.
Park said he will "continue to contemplate what improvements to make to enhance the multi-label system after resolving this issue effectively," referring to Hybe's clash with ADOR's CEO Min Hee-jin, the creative mind behind hit girl group NewJeans.
During a conference call to announce the first-quarter results earlier in the morning, CEO Park said, "We have encountered various challenges, big and small, while pioneering the path of the multi-label system. Some are questioning the stability of the multi-label system due to this situation."
He expressed, "I apologize for causing concerns among our shareholders during this process," adding, "The company has thoroughly investigated the matter through an audit to confirm the facts and will take necessary additional measures in the future."
CEO Park also mentioned, "We have experienced many trials and errors in establishing the multi-label system, overcoming them to build a stable revenue portfolio," and assured, "We will continue to communicate with our shareholders."
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| ▲ Hybe CEO Park Ji-won (L) and ADOR CEO Min Hee-jin. (Yonhap) |
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