[Featured Stock] "Min Hee-jin Independence?" HYBE Plummets Over 8% Amid Adore's Audit News

Hive Begins Audit Following Min Hee-jin's Move Toward Independence
Former SM Entertainment, 'Midas Touch' Success in Every Venture
Current Hive Yongsan Headquarters Also a Work of CEO Min Hee-jin

HYBE once plummeted by 10%. The news of an audit on Min Hee-jin, CEO of the key label ADOR, which sparked rumors of independence, is interpreted as delivering a shockwave to the market.

Min Hee-jin, CEO of ADOR
Photo by HYBE

As of 2:42 PM on the 22nd, HYBE was trading at 210,000 KRW, down 8.89% (20,500 KRW) from the previous close. It hit a low of 206,000 KRW before slightly rebounding. The intraday price of 206,000 KRW is the lowest this month.

On this day, HYBE initiated an audit on the management of its key subsidiary and label (record planning company) ADOR. According to industry sources, the audit has begun on ADOR CEO Min Hee-jin and executive A. They are collecting related evidence after receiving intelligence that Min and others plan to become independent from the headquarters. The company has retrieved IT assets from the management’s work area and is reportedly securing face-to-face statements.

Min, a former SM Entertainment executive, is a key figure who developed her artist group NewJeans into a global IP (intellectual property) and is regarded as a 'giant' in the industry. Since her time at SM, she has been known as the 'Midas touch' for her unique concepts and trend-leading abilities ahead of the times. Trusted by HYBE Chairman Bang Si-hyuk, she also led the branding of HYBE’s headquarters building in Yongsan. Unlike other entertainment companies decorated with lobbies and artist videos, HYBE’s building features an interior that could easily be mistaken for an IT company. This is a creation from Min’s hands.