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NewJeans. (Photo: ADOR) |
[Alpha Biz= Reporter Kim Sangjin] Following critical remarks from the K-pop group NewJeans, managed by ADOR under HYBE, about the company's leadership, HYBE's stock experienced a nearly 3% decline the next day. On September 12, HYBE's share price closed at ₩169,000, down ₩4,900 (2.82%) from the previous day. During trading, the stock plummeted by 6.15% to ₩163,200 at one point.
The drop is attributed to concerns about the potential departure of NewJeans, a key intellectual property for HYBE. KB Securities analyst Kim Ji-won noted, "The stock fell due to the uncertainty surrounding NewJeans' management."
On the previous evening, NewJeans voiced their dissatisfaction via a YouTube live stream, demanding the return of Min Hee-jin, the former ADOR CEO, to her previous role. The group stated, "What we want is the original ADOR with Min Hee-jin as CEO and the integrated management and producing." They urged HYBE Chairman Bang Si-hyuk to make a wise decision to restore ADOR by September 25.
HYBE's stock was over ₩230,000 in mid-April but has since declined due to ongoing management issues and executive conflicts. Speculation about NewJeans potentially leaving the company further dampens the stock's recovery prospects, with member Haerin hinting at a desire to separate from HYBE's management.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
