"Requesting Financial Supervisory Service to Investigate Securities Analysts... HYBE Files Investigation Request"

HYBE "Mr. A arranged external investment meeting"

Hive is initiating an audit of the management of Adore, a subsidiary to which the group NewJeans belongs, leading to conflicts. The photo shows the Hive headquarters in Yongsan. Photo by Jo Yongjun jun21@

HYBE has requested the Financial Supervisory Service to investigate Analyst A, who belongs to a foreign securities firm, on suspicion of violating the Capital Markets Act. Previously, HYBE had also requested the Financial Supervisory Service to investigate Min Hee-jin, CEO of ADOR, and Vice President S.

According to the music industry on the 15th, HYBE submitted a petition to the Financial Supervisory Service requesting an investigation, believing that Analyst A was involved in the conflict over ADOR's management rights. It is alleged that on the 17th of last month, Analyst A arranged a separate meeting with ADOR's management for a foreign investor visiting Korea before the HYBE meeting. HYBE believes that the foreign investor expressed at the meeting that "if ADOR's value is currently 1.4 trillion won, they would want to invest immediately." HYBE reportedly identified this meeting and statement during the process of auditing ADOR personnel who reported to CEO Min.

Additionally, HYBE is suspected of believing that internal confidential information was leaked to Analyst A during the contact between CEO Min's side and Analyst A. Analyst A is responsible for issuing buy or sell opinion reports on HYBE. Recently, Analyst A issued a buy opinion on HYBE in a report.

HYBE claims that due to this incident, the company's stock price has fallen and the overall reputation of its affiliated artists has deteriorated, resulting in business losses.