Park Ji-won, CEO of HYBE, who is in the black with sales of 360 billion won, comments on the situation with ADOR, saying, ”Towards a good conclusion... Worries over the advancement of multi-labels are being addressed.”

HYBE CEO Park Ji-won commented on the ADOR situation during HYBE's first quarter management performance conference call on the morning of the 2nd.
On the same day, CEO Park Ji-won said, "I would like to talk about the recent controversy," and added, "HYBE has been developing a multi-label business and has faced many obstacles, big and small.
"We apologize for causing concern in this process," he said, adding, "Through the audit process, we have specifically confirmed the suspicions of a plot to usurp management rights and are taking the necessary measures."
CEO Park Ji-won added, "HYBE has grown through multiple labels and has overcome many trial and error challenges to build a stable portfolio."
This case may have raised doubts about multi-labeling, but we will continue to think about how to resolve this issue and improve the multi-labeling system.
After the announcement of the results, a question and answer session followed, but HYBE was cautious in saying, "We are currently taking legal action regarding the recent issues, so we will not be accepting questions."
Meanwhile, HYBE recorded consolidated sales of 360.9 billion won (US$397 million) for the first quarter of 2024. Operating profit remained in the black.