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Hybe Faces Financial, PR Challenges; CEO Park Ji-won Responds Amid Feud

May 13, 2024, 03:53 AM

Hybe, the South Korean entertainment giant known for managing BTS, is facing significant financial and public relations challenges amid a feud with ADOR, the creative agency behind the new K-pop group NewJeans. This controversy has led to a substantial loss in market value for Hybe, amounting to hundreds of millions of dollars. The conflict has escalated with the parents of NewJeans members publicly voicing their concerns through a letter, criticizing Hybe's management practices. In response, Hybe CEO Park Ji-won has denied allegations of neglect and promised improvements, including a long vacation for NewJeans. The situation has garnered attention from various quarters, including other K-pop artists like Taeyeon of Girls' Generation, who has shown support for NewJeans amidst the ongoing controversy.