”In the midst of internal conflict,” HYBE becomes the first entertainment company to be designated a major corporation... Birth of CEO Bang Si Hyuk

The entertainment agency HYBE has become the first entertainment company to be designated as a large corporation. According to the "Results of the Designation of Business Groups Subject to Public Notification in 2024" announced by the Fair Trade Commission on the 15th,
HYBE is one of the 88 business groups. Business groups subject to disclosure are designated by the Fair Trade Commission if their total assets for the previous fiscal year are 5 trillion won (US$5.7 billion) or more.
The Fair Trade Commission said that the entertainment industry, hotel-related businesses, and clothing industries have grown rapidly due to the globalization of K-POP and the recovery of consumer psychology after the pandemic.
The number of large business groups has increased as the number of large business groups has grown. Among them, HYBE is the first major entertainment group to be designated. Chairman Bang Si Hyuk, the largest shareholder, is the head of the group.
Apart from that, HYBE has recently been in the midst of an internal dispute with Min Hee-jin, CEO of its subsidiary ADOR.
They believe that ADOR's management tried to seize management rights, and Min Hee Jin's side claims that all the allegations are untrue and that HYBE conducted an illegal audit.
He continued to make various revelations, claiming that the "plagiarism of NewJeans" and courtesy of the company, along with the internal whistleblower complaint, were the starting point of the controversy. Both sides are continuing their offensive and defensive battles, repeating counterarguments and counterarguments.
HYBE has demanded the dismissal of CEO Min Hee-jin, and the decision on whether to dismiss her is expected to be made at an extraordinary shareholders' meeting on the 31st. CEO Min Hee-jin filed a resolution against HYBE on the 7th.
The court will hold a hearing on the 17th at the Seoul Central District Court.