[Concall] HYBE Park Ji-won "Considering Multi-label Advancement... Will Improve"

Hive is entering into conflict, including launching an audit of the management of Adore, a subsidiary to which the group NewJeans belongs. The photo shows the Hive headquarters in Yongsan. Photo by Jo Yongjun jun21@

Park Ji-won, CEO of HYBE, said during the Q1 earnings conference call on the 2nd regarding the Adore management dispute, "We apologize for causing concern to our shareholders," and added, "An audit (regarding allegations of management takeover) of Adore has been conducted, and we will take necessary measures going forward."

Park stated, "HYBE has experienced many trials and errors in the process of building a multi-label system, and through overcoming these, we have grown and established a stable revenue portfolio," and “We will properly resolve this issue and continuously consider and improve what needs to be supplemented for the advancement of the multi-label system.”