HYBE’s Eventful 2024: “From NewJeans Contract Termination to Bang Si-hyuk’s Controversies”

HYBE, the only major corporation in K-pop, faced a year filled with controversies and crises in 2024.

Rising to prominence with BTS, HYBE became the first entertainment company to be designated as a major corporation, an impressive milestone.

However, internal conflicts and external controversies made this year a challenging one.

Min Hee-jin vs HYBE: A Conflict Unfolded

One of the biggest stories in the music industry this year was the conflict between former ADOR CEO Min Hee-jin and HYBE.

It began in April when HYBE’s internal audit revealed allegations against Min of attempting to seize management rights.

Min responded in a press conference, describing the allegations as a “witch hunt.”Legal battles ensued.

Min won the first injunction regarding her position as ADOR’s CEO, but subsequent board decisions and a second injunction favored HYBE, ultimately leading to her departure from the company.

NewJeans Declares Independence

The fallout extended to NewJeans, who announced the termination of their exclusive contract.

In a live broadcast in September, the group expressed their desire for Min’s return.

By November 28, they officially terminated their contract with ADOR. ADOR has since filed a lawsuit to confirm the validity of the contract.

BTS Suga’s DUI Incident

BTS member Suga’s electric scooter DUI incident damaged the group’s pristine image.

His blood alcohol concentration was high enough to warrant license revocation.

The lack of clear communication during the initial response further escalated the controversy.

Chairman Bang Si-hyuk’s Controversies

HYBE Chairman Bang Si-hyuk also found himself at the center of several issues.

From being spotted with AfreecaTV BJ Gwajeup Seyeon in LA to controversy surrounding the KRW 400 billion profit he reportedly gained through IPO-related agreements with investors,

questions were raised about the company’s transparency.

Scandal Over Internal Report

An internal document titled Weekly Music Industry Report was leaked, revealing inappropriate evaluations of rival idols.

This issue was even discussed in a parliamentary audit, putting HYBE’s corporate ethics under scrutiny.

Mixed Fortunes for Rookie Groups

While rookies TOURS and ILLIT found initial success with their debut releases, their follow-ups fell short of expectations.

ILLIT, in particular, faced criticism for its perceived similarities to NewJeans, which hindered its progress.

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HYBE’s 2024 was a year of contrasts: achieving the milestone of becoming a major corporation while grappling with significant challenges and controversies.

Incidents such as the ADOR dispute highlighted the need for greater transparency and accountability as a leading player in the K-pop industry.

The spotlight now falls on how HYBE will overcome these crises and secure its next phase of growth.