Byun Hee Jae, CEO of Media Watch, has strongly criticized Bang Si Hyuk, the chairman of HYBE, accusing him of damaging the company’s value by interfering with NewJeans’ success.
On September 14, Byun shared a video on his YouTube channel titled, “Why Bang Si Hyuk’s Actions Against NewJeans Are Concerning.”
In the video, he said, “The clash between HYBE and Min Hee Jin, the former CEO of ADOR, is a conflict between business interests and creative rights. Even if Bang Si Hyuk owns the company, the rights of the creator who made the group should be respected.”
Byun pointed out that HYBE’s stock price has been dropping, linking it to changes in leadership at ADOR. “Back in April, just as NewJeans was gaining attention, Bang Si Hyuk removed Min Hee Jin from her position. The stock price went up at first when NewJeans started their activities, but after Min Hee Jin was pushed aside, the stock price dropped,” he explained.
He continued, “It’s clear to everyone that NewJeans’ future is now uncertain. As the main shareholder and chairman, Bang Si Hyuk has blocked their progress. After removing Min Hee Jin, the stock price fell again.”
Byun criticized Bang Si Hyuk’s motives, saying, “It looks like Bang is putting his personal feelings ahead of HYBE’s success. He’s willing to damage HYBE just to bring down Min Hee Jin and NewJeans. This kind of reckless behavior could be illegal, and shareholders should consider asking for compensation and holding him accountable for a breach of trust.”
He stressed, “Bang Si Hyuk is damaging HYBE’s value because of his personal issues or maybe even an inferiority complex toward Min Hee Jin. Shareholders won’t stand for this if Min Hee Jin wins her legal battles in court.”
Byun also highlighted former S.E.S member Bada’s support for Min Hee Jin, adding, “This support is important. While Bang Si Hyuk may control the company’s finances, Min Hee Jin was the one behind NewJeans’ creation. “
He concluded, “The creative rights of producers should be respected, and it would be significant if the creative community united against someone like Bang Si Hyuk in the cultural industry.”
Source: [1]