HYBE
Police seek arrest warrant for HYBE chairman Bang Si-hyuk
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Seoul police have requested an arrest warrant for HYBE Chairman Bang Si-hyuk on suspicions of unfair stock trading under the Capital Markets Act. The allegations stem from 2019, when he reportedly misled investors about the company's IPO delay, acquiring shares cheaply for nearly 200 billion won ($135.9 million) in profits. Bang denies the claims and expressed regret over the warrant request despite his cooperation.
South Korea's leading K-pop agencies HYBE, SM Entertainment, YG Entertainment and JYP Entertainment are in early talks to launch a joint global music festival called Fanomenon. The event aims to rival Coachella and debut by the end of 2027. The concept originates from JYP founder Park Jin-young, who leads government efforts to promote Korean culture worldwide.
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The K-pop group NewJeans has announced its return to ADOR following a court ruling upholding their contract through 2029. After a year-long legal battle stemming from internal conflicts at HYBE, the five members expressed intentions to resume activities with the label. The resolution comes after public support for former CEO Min Hee-jin and criticisms of the parent company.
All five NewJeans members have returned to Ador after forgoing an appeal against a court ruling upholding their exclusive contracts. Former CEO Min Hee-jin expressed respect for their decision and stressed the group's unity. Questions linger over the group's future without Min's creative influence.