HYBE vs Ador Drama Continues With New Audit
Por Zach Collier
For those unaware, ADOR – the label responsible for global phenomenal NewJeans – and HYBE have not been getting along. Min Hee Jin, HYBE’s Chief Brand Officer since 2019, formed ADOR in 2021 ahead of the NewJeans debut in 2022.
Min Hee Jin owns 20% of ADOR, with HYBE owning the other 80% as a joint venture in HYBE’s favor. This hasn’t been great for Jin, who has allegedly attempted to take ADOR independent. After catching wind of this, HYBE has launched an internal audit into ADOR’s global operations.
Reportedly, HYBE called for a shareholders’ meeting last week to hold ADOR’s management accountable. HYBE also asked for Min Hee Jin to resign as ADOR’s CEO. When asked for a comment, HYBE was brief: “It is true that an audit was initiated.”
The feud has reportedly wiped out $875 million in stock value for HYBE, according to Bloomberg.