The authority battle between HYBE and Min Hee Jin has intensified, causing shareholders to bear the brunt as stock prices for Bang Si Hyuk led label plunge to new lows. The ongoing feud between the K-pop giant and its subsidiary is impacting market value, with HYBE’s stock price dropping below 200,000 won, as reported by Korean media outlets. In addition, the BTS label is also planning to ask for a Financial Supervisory Service inquiry into alleged stock trading violations by ADOR executives.
Also read: HYBE says ‘greedy’ Min Hee-jin planned emails by NewJeans members’ parents: We have evidence
HYBE stocks stocks plummet amid Min Hee Jin battle
On May 13, the same day an email citing NewJeans’ parents’ claims about HYBE’s alleged misconduct and exploitation surfaced, HYBE’s stock price plummeted by 7,700 won, reaching the 190,000 won range as reported by All Kpop. What’s even more concerning is the fact that the Bang Si Hyuk label with international appeal is continuously witnessing a decline. Just 20 days prior, the stock plunged to 240,000 won.
HYBE to suffer more financial setbacks?
The effect of the stock plunge is directly impacting shareholders. As the matter involving Min Hee Jin, the current CEO of ADOR, continues to get dragged, various market experts predict a further decline in the financial aspect, with some even speculating about a potential drop to 100,000 won.
HYBE to request investigation into alleged stock trading misconduct
K-pop agency behind popular groups like BTS, SEVENTEEN, ENHYPEN, NewJeans, is reportedly considering requesting a stock market investigation by the Financial Supervisory Service as reported by Korea Economic Daily. The agency, ADOR, is accused of executives, including a vice president, violating securities laws. The request also targets CEO Min Hee Jin and other executives, alleging they conducted illegal trades to manipulate the stock price.
Also read: NewJeans’ parents expose HYBE for ‘exploitation and mistreatment’ in NEW report
HYBE appoints new CEO for ADOR
The company has reportedly requested an emergency shareholder meeting on May 31. Earlier reports surfaced citing HYBE’s selection of a new ADOR CEO and entire management team, with plans to remove Min Hee Jin from her position. The company has reportedly appointed new management for its subsidiary, and if the meeting goes in favour of HYBE, a major shakeup for Min Hee Jin is inevitable.
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