The conflict between HYBE’s Chairman, Bang Si Hyuk, and ADOR’s CEO, Min Hee Jin, is escalating. HYBE has accused ADOR’s management, including Min, of attempting to take over the company’s control. In response, Min claimed that ILLIT copied ADOR’s group NewJeans. As a result, HYBE’s stock price has plummeted by over 4%, sparking fierce debate among shareholders.
As of 10:17 AM on the 26th, HYBE is trading at 204,000 won ($172.30), down 8,000 won (3.77%) from the previous day. Consequently, HYBE’s market capitalization has evaporated by over 1 trillion won ($843.5 million) in five trading days.
On the 22nd, HYBE’s stock price dropped by 7.81% after news broke that HYBE had detected signs of ADOR attempting independence and activated its audit rights over the management. On the 23rd, HYBE’s stock price fell again by 1.18%, but it seemed to rebound afterward.
However, the conflict between Bang and Min resurfaced after Min held an emergency press conference the previous day, causing the stock price to tumble again.
At the press conference, Min denied the allegations of usurping control, stating, “How could I attempt to seize control? The screenshots of the messenger that HYBE released are just casual conversations with the executives, framed to fit their narrative.”
When HYBE’s stock price plummeted in the early trading hours, individual investors vented their anger in stock discussion group chats.
Opinions among shareholders were divided. One investor said, “My money is disappearing, so the shareholders (including myself) can’t possibly take sides with Min Hee Jin.”
However, there also were shareholders who supported Min. There have been remarks such as “Bring in Min Hee Jin for the sake of the shareholders,” “Shareholders are being naive. HYBE started this mess in the first place, and they are blaming the wrong person,” and “Bang Si Hyuk should apologize, invest in ADOR, and support Min Hee Jin. That’s how the stock price will rise.”
Some shareholders also expressed resentment towards HYBE. One shareholder pointed out, “It’s funny that they only apologize to the members, fans, and artists when there’s a problem with the company. If they failed to run the company properly, they should apologize to the shareholders.”
Shareholders who watched the press conference the previous day couldn’t hide their disappointment. Posts such as “Why go to an amusement park? HYBE’s stock price is like a roller coaster” and “The market fluctuates with a single word. What will happen to the shareholders?” were posted one after another.
Even some long-term investors pulled out of HYBE after watching the press conference. One investor confessed, “The price fell after my purchase, so I have been averaging down for over two years. Finally, it was getting profitable, but this incident smashed everything. I just pulled out after watching the press conference.”
Most shareholders expressed a pessimistic stance. Comments such as “I sold right after watching the press conference yesterday, thinking that the stock price would inevitably plummet today,” “HYBE will try to defend somehow, but the real plunge will happen next week, not today,” “Those who sell quickly are those who are brave,” and “If more internal whistleblowing is exposed, the second drop will be more severe,” followed.
