[Hot Stock] HYBE Plummets on Termination of Exclusive Contract with NewJeans

HYBE continues to show weakness in the afternoon session. This is interpreted as a result of the girl group 'NewJeans' announcing the termination of their exclusive contract with their agency ADOR at midnight on the same day.

At 3:06 PM on the 29th, HYBE is trading at 195,000 KRW, down 4.18% (8,500 KRW) from the previous day.

Earlier, NewJeans held an emergency press conference and announced that they would terminate their exclusive contract starting from 12:00 AM on the 29th. NewJeans is a girl group under ADOR, a label owned by HYBE, and has become a global star within three years of their debut.