Trespassing Discovered Only After 2 Nights and 3 Days
The security of HYBE's Yongsan headquarters, home to the globally renowned group BTS and boasting the highest market capitalization in the entertainment industry, was breached. A man in his 40s trespassed and stayed there without permission, but the intrusion was only discovered three days later.
The Yongsan Police Station in Seoul arrested and is currently investigating a man in his 40s, identified as Mr. A, on charges of trespassing on the 8th. Mr. A is accused of unlawfully entering HYBE's headquarters in Yongsan-gu, Seoul, on the afternoon of the 6th and secretly staying there for three days.
On the afternoon of the 6th, around 4 p.m., he was sitting in the lobby on the first floor of the HYBE building and then took the dedicated elevator to the underground parking lot. Taking advantage of lax security, he climbed over a glass security door and roamed freely between the 3rd and 18th floors. While moving freely inside the building, he even took meals and stayed overnight in the building’s cafeteria used by HYBE trainees and employees. After two nights and three days without any restrictions, Mr. A was discovered on the 5th floor on the 8th by a suspicious HYBE staff member.
Reportedly, when apprehended following a report by the HYBE staff, Mr. A did not steal any items or carry any weapons during the incident. According to one media outlet, Mr. A stated during police questioning that he is an American investor and had entered the building for a business meeting with HYBE officials.
HYBE stated, "We confirmed the illegal intrusion into the building and reported it to the police. We are actively cooperating with the investigation to ensure strict punishment is enforced." The police plan to investigate Mr. A further regarding the specific circumstances of the case.
HYBE’s Stock Wobbles Amid Security Breach
HYBE’s stock price has recently taken a significant hit. Negative factors such as Chairman Bang Si-hyuk’s personal life controversies, BTS member Suga’s electric scooter DUI incident, and controversies involving Min Hee-jin, CEO of ADOR, have caused the market capitalization to fall below 7 trillion won. After girl group NewJeans issued an ultimatum demanding Min Hee-jin’s return, HYBE’s stock, the parent company of ADOR, plunged as much as 6% on the 12th. This is analyzed as being influenced by concerns over a dispute with NewJeans, HYBE’s key intellectual property (IP).
On the afternoon of the 11th, the five members of NewJeans demanded via a YouTube live broadcast that Min Hee-jin return, stating, "Restore ADOR to its original state by the 25th," addressing HYBE and Chairman Bang Si-hyuk. Since conflicts between HYBE and Min Hee-jin surfaced in April, Min was abruptly removed from her position as CEO of ADOR on the 27th of last month, citing reasons such as the "principle of separation between management and production."
Although HYBE’s market capitalization has dropped to the 6 trillion won range, considering that the industry’s second-largest company, JYP Entertainment, has a market capitalization of around 1.6 trillion won, HYBE remains the undisputed industry leader.
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