HYBE CEO Park Ji-won may step down months after the company became involved in a dispute with ADOR. According to SoompiHYBE has also released a statement, though it is brief. Ji-won joined HYBE in 2020 and became CEO the following year. (Also Read | Min Hee-jin to remain ADOR CEO, HYBE appoints three new board members after shareholders meeting)
Will Park Ji-won resign?
According to the report, investment industry insiders said on Wednesday that Park Ji-won has decided to resign after recently completing an external investment initiative for a HYBE subsidiary. HYBE said, “Nothing has been decided yet.”
Allkpop reportedAccording to an insider, “As far as I understand, Park Ji-won shared his position that he wants to retire after completing his project to attract external investment to one of HYBE’s affiliates.”
About Park Ji-won
Ji-won gained recognition in 2014 as the CEO of Nexon Korea, a major video game company. He joined BIGHIT MUSIC (now HYBE) in May 2020. Ji-won began his tenure as CEO in 2021, replacing current president Bang Si-hyuk. At HYBE, Ji-won established a multi-label system. He also supported the success of affiliated artists. However, Ji-won’s time at HYBE was filled with conflicts with ADOR CEO Min Hee-jin.
What Ji-won said during the HYBE, ADOR controversy
In April this year, HYBE began an audit of ADOR management. It took this step after discovering attempts by ADOR to become independent. Later, HYBE released a detailed press release about the audit. At the time, Ji-won had said, As quoted by Soompi“I apologize for causing concern to fans, cast and crew [of the labels] For what happened in the process of upgrading to multi-label [system],
He also said, “Now that the incident is over, we will maximize our efforts for psychological counseling and emotional stability of artists, who are valuable assets of K-pop.”
