Bang Si Hyuk becomes 'head' of HYBE... the first company in the entertainment industry to be designated a major corporation amid internal disputes

HYBE, the management office of Korean boy band BTS, has become the first entertainment company to be designated a major conglomerate.
The head (same person) is Chairman Bang Si Hyuk, the largest shareholder and founder of HYBE, holding 31.57% of the company's shares.
On the 15th, the Japan Fair Trade Commission (JFTC) designated and notified 88 business groups (3,318 management companies), including HYBE, as business groups subject to disclosure.
The company is ranked 85th in the business world (with total fair assets of 525 billion won (approximately 500 million yen) according to the Fair Trade Commission). HYBE is also in conflict with its subsidiary label ADOR and CEO Min Hee-jin.
The Fair Trade Commission said, "The entertainment industry, whose main sources of revenue are albums, performances, and content, has grown rapidly due to the globalization of K-POP.
"HYBE is a group centered around HYBE, which includes many singers with global fandoms such as BTS, and is the first major group in the entertainment industry to be designated as such."
The FTC said that large business groups and their general affiliated companies combined with financial affiliated companies have fair assets of over 5 trillion won (US$5.5 billion) and that the fair assets of large business groups and their financial affiliated companies are the same.
According to a business report released by HYBE in March, the company will have total assets of 5.3457 trillion won (US$5.7 billion) and total liabilities of 1.2 trillion won (US$5.2 billion) as of December 2023.
The amount was calculated to be 2.2358 trillion won (approximately 260 billion yen), and the total capital was 3.1099 trillion won (approximately 360 billion yen).
HYBE, designated as a large business group, has various regulations, including disclosure obligations and prohibition of fraudulent private profits.
HYBE started as BIGHIT Entertainment in 2005 and changed its name to HYBE in 2021, becoming an entertainment lifestyle company.
HYBE has diversified its business into three areas: labels, solutions, and platforms. In terms of labels, it has 11 subsidiaries.
The company is currently building a "multi-label system" that will operate the following labels: BIGHIT Music, which includes the group BTS, and SEVENTEEN.
PLEDIS, which is a member of NewJeans, ADOR, SOURCE MUSIC, KOZ Entertainment, BELIFT
LAB, ITHACA HOLDINGS, NAECO, HYBE LABELS JAPAN, QC MEDIA HOLDINGS, HYBE LATIN
The multi-label system is designed to reduce the reliance on specific artists and labels by allowing each label to operate independently and to encourage competition between labels.
It was designed to facilitate cooperation and conflict, but it also has fatal problems, such as the recent conflict with ADOR.
In the solutions field, we have Hiv, a game publishing company.
e IM, and AI solutions company SUPERTONE. In the platform field, there is the fandom platform Weverse.