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| ▲This photo provided by billboard shows New Jeans at the billboard women in music awards. (PHOTO NOT FOR SALE)(Yonhap) |
Seoul April 22 (Yonhap) -- South Korea's leading entertainment agency, HYBE, has launched a sudden audit of the management team at ADOR, the subsidiary label of K-pop flagship girl group New Jeans.
According to sources in the music industry on Monday, HYBE began the audit on the morning, targeting ADOR's CEO Min Hee-jin and other members of the management team.
Personnel from the audit team reportedly visited ADOR's offices to collect company assets and gather statements from the management team.
A representative from HYBE stated, "It is true that an audit has been initiated regarding the management team at ADOR due to suspicions of attempts to take control of the company."
HYBE is said to suspect that individuals like Mr. A are attempting to seize control of the company.
ADOR, established by CEO Min in 2021 under HYBE, holds an 80% stake owned by HYBE, with the remaining 20% owned by Min and other members of the ADOR management team.
Following the acquisition of assets on this day, HYBE reportedly plans to analyze the data and take legal action if necessary.
CEO Min, known for his creative concepts and branding of idol groups like Girls' Generation, SHINee, and EXO during his tenure at SM Entertainment, has gained fame in the music industry for his innovative approach.
After joining HYBE, Min also took charge of branding and design for the company's Yongsan headquarters.
Under Min's leadership, New Jeans debuted in 2022 and quickly rose to fame with hit songs like "Hype Boy," "Attention," "Ditto," and "OMG." Their relaxed music style and unique 'Y2K' sensibility have been praised for reshaping the landscape of the music industry. They have won numerous awards at various music awards ceremonies in Korea and even topped the Billboard 200 chart.
Min himself has been honored with awards such as the Seoul Cultural Award, the Golden Disc Producer Award, and the 2023 Billboard Women in Music Award.
New Jeans is gearing up for a comeback next month.
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