Hybe Gains $282 Million After ADOR CEO Steps Down

The Leader Globe30 Aug, 2024Business

Hybe, South Korea?s largest K-pop agency, saw a significant rise in its market value. Following the resignation of Min Hee-jin, the former CEO of ADOR, Hybe?s market cap increased by approximately $282 million. The news caused Hybe shares to gain 3.68% at market open, later extending to almost 5%. The recent changes at Hybe are part of a long-running legal battle. This conflict has been ongoing between Hybe and Min Hee-jin, now the former CEO of ADOR. Hybe, the management company behind BTS, filed a police report against Min in April. The report accused her of attempting to take ADOR independent. In response, Min alleged that Hybe copied NewJeans? concept for another girl group.