HYBE Begins Audit Of NewJeans' Label ADOR, Asks CEO Min Hee-Jin To Resign

While HYBE has successfully expanded into an entertainment hub built around its multi-label structure, the Korean company says it has investigated one of its top jewelry agencies, ADOR, home of top girl group NewJeans.

Since launching in late 2021, ADOR (acronym for All Doors One Room) is led by Min Hee Jin, a veteran creative in the K-pop industry who famously helped develop the scene's penchant for artistic concepts and era-defining K-pop acts such as Girls' Generation, SHINee, f(x), EXO, and Red Velvet during during her tenure at SM. Entertainment. After Min left SM, she joined then-Big Hit Entertainment in 2019 as chief brand officer and led the company's rebrand to HYBE. During the 2021 rebrand reveal, HYBE announced Min as the CEO of a new company, ADOR, with plans to debut the girl group that would become NewJeans.

Earlier this month, report by the Korea Financial Supervisory Service revealed that Min had an 18% stake in ADOR as of late last year. HYBE previously had full control of the label, but now boasts 80%, with an additional two percent owned by other company executives. HYBE reportedly invested 16.1 billion won (about $11.7 million) to establish ADOR.

Less than two years after NewJeans debuted in history, HYBE asks Min to resign from ADOR after an audit of her, the label and her executives.

HYBE confirmed Advertising sign that on April 22, the company “invoked the right to audit CEO Min Hee-Jin and senior executives of its ADOR subsidiary.” HYBE said it “invited them to call a shareholders' meeting and sent a formal letter to ask CEO Min to resign.” HYBE added that it could not provide more information about the reasons or reasons for the audit or why it is asking Min to step down.

Since news of the audit broke, ADOR and Min Hee-jin have gone on the attack on the Korean media.

In a series of statements, ADOR claims HYBE's newest act, the five-member girl group ILLIT under another subsidiary, BELIFT LAB, is copying NewJeans. With HYBE founder and current president Bang Si-hyuk featured on ILLIT's debut album Super Real Me (No. 6 on the World Albums chart after three weeks), ADOR claims that both BELIFT LAB and HYBE are complicit in the alleged infringement. ADOR says they raised the issue of the copying internally a month ago but received no response, now claiming that HYBE's attempt to remove her as CEO is a result of highlighting the alleged problem. Min gave an additional interview into a Korean outlet Sports Ilgan to fuel rumors that it was trying to spin off ADOR from HYBE or seek outside investors to go independent with its 18% stake.

Min Hee-jin has not responded Advertising signhis request for comment.

Min and ADOR quickly led NewJeans to a series of record-setting achievements, including a No. 1 album on the Billboard 200 with 2023 get up just a year after debuting, five Hot 100 hits, a well-received US live debut at Lollapalooza last year, as well as accolades such as Top Global K-Pop Artist at Billboard Music Awards 2023 and the first K-pop act to be honored as Group of the Year for Advertising signWomen in music. In 2023, Min won a seat Advertising signThe International Power Players and Women in Music executive lists and also collaborated with V of BTS on the overall production of his debut solo album, Standwhich reached No. 2 on the Billboard 200 in September.

The K-pop powerhouse clash comes as NewJeans prepares for several releases, including new singles “Bubble Gum” and “How Sweet,” with the former's music video set to drop April 26 on HYBE LABELS' YouTube channel . NewJeans are also preparing their first Japanese singles “Supernatural” and “Right Now”, as well as a new album scheduled for the second half of 2024.

Elsewhere in the HYBE universe, ILLIT's “Magnetic” currently sits at No. 91 on the Hot 100, making it the first debut single from a K-pop act to enter the chart. New music from HYBE artists such as Zico (under KOZ Entertainment of HYBE LABELS) and SEVENTEEN (PLEDIS Entertainment) is also coming this month. Historically, internal company issues can affect K-pop music or content releases, but no updates have been shared as of press time.