K-pop stars NewJeans send ultimatum to managers in rare industry ...

SEOUL – Popular K-pop group NewJeans took to YouTube to demand Hybe reinstate their ousted long-time producer by Sept 25, escalating an ongoing dispute and stunning an industry controlled by a handful of powerful management firms.

Hybe’s shares dived as much as 6.2 per cent – their biggest intraday fall in a month – after the five-member group announced their demands in a surprise YouTube live-stream on Sept 11 evening.

The women accused Hybe of discrimination and called for measures to protect NewJeans, one of the most lucrative and popular K-pop bands that generated 100 billion won (S$97.4 million) of revenue in 2023, according to a company filing.

Hybe didn’t immediately respond to a request for comment.

NewJeans’ ultimatum underscored a deepening revolt against the management company.

It comes after Hybe ordered Ms Min Hee-jin to step down as CEO in August and gave her two months to work on the group’s album. In doing so, Hybe defied an earlier court order that barred Hybe from dismissing Ms Min as the head of sister label ADOR, which produces NewJeans, according to a statement from her lawyer.

“If our message has been properly conveyed, we hope chairman Bang and Hybe will make a wise decision to restore ADOR to its original state by the 25th,” NewJeans member Minji said at the end of the video, referring to label chairman Bang Si-Hyuk.

The power struggle at Hybe has wiped out 27 per cent of Hybe’s market value since the dispute between Ms Min and the company first surfaced in mid-April.

Hybe started an internal audit of Ms Min’s activities, accusing her of trying to seize control of ADOR. They took their disagreement to court, where a judge ruled the producer should remain head of the sister label.

“All we want is this legal conflict to be resolved and have our working environment returned back to normal the way it was before,” another member Hanni said. BLOOMBERG