K-Pop Clash as HYBE Probes Alleged Breakaway Attempt by NewJeans Label ADOR
variety.comPatrick Frater Asia Bureau Chief HYBE Corp., the biggest corporation in the South Korean pop music scene, has begun an audit into ADOR, the label responsible for K-pop act NewJeans.
HYBE says that executives at the majority-owned subsidiary mya be attempting to break away from the conglomerate. “HYBE invoked the right to audit CEO Min Hee-Jin and top executives of its subsidiary label ADOR, called them to summon a shareholder meeting and sent an official letter to ask CEO Min to step down,” HYBE said in a statement emailed to Variety.
Media sources in Korea have reported that the audit targets Min and one of her deputies and that computer assets have been seized and face-to-face statements already taken.
They also report that HYBE suspects Min and her deputy to have circulated confidential information to outsiders in a possible bid to attract investors who would allow ADOR to gain its independence from the parent company.
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