Foreign media reports lucrative K-pop industry's power struggle

Major foreign media outlets, including CNBC, the Nikkei, Kyodo News, and Reuters, reported in detail on a dispute between Hybe Corporation, the largest record label in South Korea, and Min Hee-jin, CEO of ADOR, a label and management company for NewJeans under Hybe.

In particular, the media outlets reported the recent dispute as a power struggle in the lucrative K-pop industry and expressed concerns over the potentially prolonged development of the issue and a possible negative impact on Hybe’s performance. The multi-label strategy introduced by Hybe to the K-pop industry is expected to take a hit.

Hybe sued Min for professional malpractice on Friday. The stock price of Hybe, which has been declining lately, fell by 4.95 percent on the same day.

“The dispute is the latest to hit South Korea's lucrative K-pop industry,” Reuters reported on Friday, adding that the incident will be a key turning point for the K-pop industry’s continuous success. It shared an analysis of the South Korean financial district, stating that the K-pop industry is experiencing growing pains, and cited a comment that said this would be an opportunity for the K-pop industry to better protect artists and intellectual rights.

Billboard and Agence France-Presse also reported Min's press conference in detail on Thursday. Billboard reported that CEO Min held an emotional conference that lasted over two hours. “With a new single from NewJeans just hours away, HYBE and Min are engaging in a war of words as both declare they're doing what's best for the K-pop girl group,” it added. Agence France-Presse reported that Hybe criticized Min for receiving management advice from a shaman.

Seoul Yongsan Police Station accepted Hybe’s complaint about Min on Friday. The charge named for the case is professional malpractice. A police source said the attendance schedule for the accuser and defendant hasn’t been determined yet.


이지윤 기자 asap@donga.com