HYBE, Home Of BTS, Says It Will Contact Police About Executives From Subsidiary Label After Audit

Bruce Haring
·2 min read

Korean entertainment giant HYBE said it will report an executive of subsidiary label ADOR to police, a move coming days after launching an audit.

HYBE is also asking ADOR’s CEO, Min Hee-jin, to exit. Min held an emotional press conference in Seoul and refuted allegations of usurping ADOR girl group NewJeans‘ management.

More from Deadline

NewJeans is a Billboard 200–topping girl group that is preparing to launch its new single, Bubble Gum.

HYBE is the label behind Korean supergroup BTS. It has issued a statement on the situation as of Thursday in Korea.

“On April 25 KST, HYBE announced that the company will report CEO Min Hee-Jin of its subsidiary label ADOR to police for a breach of trust and other related allegations today.

“HYBE secured substantial evidence to prove that Min deliberately led the plan to take over management control of the subsidiary, through the audit process. The evidence included detailed discussions that Min has ordered the ADOR management to find ways to pressure HYBE into ultimately selling ADOR’s shares. One of the audited parties submitted information assets to seize the management of ADOR and to attempt to contact external investors. The auditee also admitted to creating the documents to attack HYBE.

“In the meantime, HYBE will continue to provide attentive mental and emotional care to the company’s artist NewJeans and best support for their upcoming comeback. The company will meet legal representatives of the respective members as soon as possible to discuss the plan to protect the act.”

Earlier this year, HYBE announced that its annual sales hit 2.17 trillion won (US$1.6 billion) in 2023, making it the first K-pop agency to reach that milestone.

In a conference call, the company said that robust album and concert sales by its major artists contributed to this achievement, including Seventeen, Tomorrow X Together, NewJeans, Enhypen and BTS members as soloists.

Best of Deadline

Sign up for Deadline's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.

  • Up next
  • Up next
  • Up next
  • Up next

Latest Stories

  • US committee targets Georgia Tech's alleged ties to Chinese military linked research

    A U.S. congressional committee on China has asked leading research university Georgia Institute of Technology to detail its collaboration with a Chinese university facing U.S. government restrictions due to its alleged ties to the country's military. Georgia Tech partnered with China's northeastern Tianjin University on cutting edge technologies despite its documented ties to the People's Liberation Army (PLA), John Moolenaar, the new Republican chairman of the House of Representatives' select committee on China, wrote in a letter on Thursday to the U.S. school's president Angel Cabrera. But the Georgia Tech scientist who led the project defended the research, saying all the results were available to the public, that it had passed extensive legal reviews, and that only a small portion of the funding came from the Georgia Tech Research Institute (GTRI), which is heavily sponsored by the Pentagon.

  • Kyndryl Holdings, Inc. (NYSE:KD) Q4 2024 Earnings Call Transcript

    Kyndryl Holdings, Inc. (NYSE:KD) Q4 2024 Earnings Call Transcript May 8, 2024 Kyndryl Holdings, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good morning, ladies and gentlemen, and thank you for standing by. My name is Abby, and I […]

  • Pennsylvania to ban cell phone use while driving and require police to collect traffic stop data

    Pennsylvania will join the majority of states that ban motorists from handling a cell phone for almost any purpose while driving, as backers of the legislation hope to reduce distracted driving accidents and deaths after nearly two decades of pressing the measure. Gov. Josh Shapiro's office said Thursday that the Democrat will sign the bill, 18 years after he first introduced a similar bill when he served in the state House of Representatives. The bill also includes a provision long-sought by the Pennsylvania Legislative Black Caucus as a bulwark against racial profiling.

  • Tempur Sealy International, Inc. (NYSE:TPX) Q1 2024 Earnings Call Transcript

    Tempur Sealy International, Inc. (NYSE:TPX) Q1 2024 Earnings Call Transcript May 7, 2024 Tempur Sealy International, Inc. beats earnings expectations. Reported EPS is $0.5, expectations were $0.48. TPX isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good day, everyone, and […]

  • Magnolia Oil & Gas Corporation (NYSE:MGY) Q1 2024 Earnings Call Transcript

    Magnolia Oil & Gas Corporation (NYSE:MGY) Q1 2024 Earnings Call Transcript May 8, 2024 Magnolia Oil & Gas Corporation isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good morning, everyone, and thank you for participating in Magnolia Oil & Gas […]

  • GXO Logistics, Inc. (NYSE:GXO) Q1 2024 Earnings Call Transcript

    GXO Logistics, Inc. (NYSE:GXO) Q1 2024 Earnings Call Transcript May 8, 2024 GXO Logistics, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Welcome to the GXO First Quarter 2024 Earnings Conference Call and Webcast. My name is Camilla and […]

  • Dad kidnaps 3-year-old son in SC, sets truck on fire with child still inside, cops say

    Authorities also accused the man, 31, of violently attacking his child’s mother.

  • Judge denies Trump’s attempt to lift gag order so he can ‘respond’ to Stormy Daniels testimony

    Donald Trump’s latest attempt to lift a gag order placed on him during his New York criminal hush money trial has been denied. Lawyers for the former president argued that since a key witness – adult film actress Stormy Daniels – has now left the stand, the order should be lifted so Mr Trump can “respond” to her testimony. Judge Juan Merchan, who is presiding over the case, denied the motion on Thursday, saying he was concerned about “attacks” on Ms Daniels and other witnesses.

  • Olympiacos v Aston Villa LIVE: Europa Conference League latest score and goal updates as El Kaabi strikes again

    Can Aston Villa oveturn their two-goal deficit after a frantic first leg at Villa Park?

  • Biden administration proposes denying some migrants earlier in asylum process

    New rule would restrict access sooner for people deemed to pose ‘national security or public safety risk’ in attempt to streamline

  • Trump trial live updates: Judge won't modify gag order following Daniels' testimony

    Former President Donald Trump is on trial in New York City, where he is facing felony charges related to a 2016 hush money payment to adult film actress Stormy Daniels. Trump last April pleaded not guilty to a 34-count indictment charging him with falsifying business records in connection with a hush money payment his then-attorney Michael Cohen made to Daniels in order to boost his electoral prospects in the 2016 presidential election. Assistant District Attorney Joshua Steinglass heavily pushed back on defense attorney Todd Blanche's motion for a mistrial based on Stormy Daniels' detailed and explicit testimony.

  • TREASURIES-Yields ease on solid demand at Treasury bond auction

    Treasury yields slipped on Thursday amid relief that all $125 billion in new note and bond supply this week was absorbed smoothly, allowing traders to focus on pivotal inflation reports for the Federal Reserve's higher-for-longer rate strategy. The Treasury sold $25 billion in 30-year bonds on Thursday, at a high yield of 4.635%, lower than where the yield on the screens was at the close of competitive bidding, indicating strong demand. A bid-to-cover ratio of 2.41 was higher than the market was expecting, according to Subadra Rajappa, head of U.S. rates strategy at Societe Generale, New York.

  • Eurovision: Thousands protest against Israel's entry in Malmo

    The authorities are on high alert in the Swedish city as tensions over Gaza spill out into the streets.

  • Ecopetrol S.A. (NYSE:EC) Q1 2024 Earnings Call Transcript

    Ecopetrol S.A. (NYSE:EC) Q1 2024 Earnings Call Transcript May 9, 2024 Ecopetrol S.A. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good morning. My name is Natalia, and I will be your operator today. Welcome to Ecopetrol’s Earnings Conference Call […]

  • Aquestive Therapeutics, Inc. (NASDAQ:AQST) Q1 2024 Earnings Call Transcript

    Aquestive Therapeutics, Inc. (NASDAQ:AQST) Q1 2024 Earnings Call Transcript May 8, 2024 Aquestive Therapeutics, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good morning, and welcome to Aquestive Therapeutics First Quarter 2024 Conference Call. At this time, all participants […]

  • Suffering worst drought in decades, Costa Rica orders electricity rationing

    Struck by the worst drought in five decades, Costa Rica announced an electricity rationing plan on Thursday, blaming a severe lack of rainfall that has hobbled hydroelectric plants. The Central American nation famed for its beaches and lush landscapes that power ecotourism normally gets about 70% of its electricity supply from the plants. State-run electricity company ICE has blamed the drought conditions partly on the weather phenomenon known as El Nino.

  • Diverging Food Demand: Beyond Meat Dives; Vital Farms Adds To 90% Rally

    Beyond Meat stock tumbled on its earnings miss, falling demand. Vital Farms rallies on results, hiked outlook.

  • Rosedale eyes solutions to ongoing beaver problems

    At a recent Association of Manitoba Municipalities (AMM) meeting for mayors and reeves, several municipalities in the midwestern and parkland regions raised the issue of beavers coming out of Riding Mountain National Park, where they are protected, and causing damage to municipal infrastructure. One of those municipalities is Rosedale, where Reeve Karl Snezyk reported at the April meeting of council that a joint request from those municipalities to the Manitoba Minister of Environment and Climat

  • Biden ‘Concerned’ About Lockout Of Boeing Firefighters

    The president urged the airplane manufacturer to reach a deal that "gets these firefighters the pay and benefits they deserve."

  • Olivia Dunne Celebrates After Boyfriend Paul Skenes Is Called Up to Pitch in First MLB Game

    The former LSU pitcher will make his debut on the mound May 11 against the Chicago Cubs