HYBE reacts to rumours that Park Ji-won, the CEO, resigned four years after joining
According to the Hindustan Times, Park Ji-won is on record as saying that he would "want to retire after completing a project to attract outside investment for one of Hype's affiliates".
HYBE CEO Park Ji-won might leave the company in a few months after it got into a dispute with ADOR. As per Soompi, HYBE has also commented, though it was just a short one. Ji-won was brought to HYBE in 2020 and became its CEO the following year.
The report on Wednesday into the investment industry indicated that Park Ji-won will step down since he has recently completed an external investment initiative for a subsidiary of HYBE. HYBE said, "Nothing has been decided yet".
Allkpop quoted an insider: "As far as I know, Park Ji-won shared his position that he'd like to retire after recently completing his project to attract outside investment for one of HYBE's affiliates."
Ji-won joined BIGHIT MUSIC in May 2020. He obtained his position as the CEO in 2021, after the previous chairman, Bang Si-hyuk. Ji-won divided and organized HYBE under a multi-label system. He also led to the successful advances of related artists. His time at HYBE was, however, marked by conflicts with Min Hee-jin, the CEO of ADOR.
In April, HYBE began investigating the management of ADOR after discovering that ADOR was taking steps to act on its own authority to conduct management activities. HYBE then issued a detailed press release regarding its investigation. At the time, he said, as quoted by Soompi, "I offer my apologies for causing concerns to the fans, artists, and personnel [of the labels] for what happened in the process of multi-label [system] upliftment happening," Ji-won said. He also stated, "Now that the incident has come to an end, we'll do our utmost for the psychological counseling and emotional stabilization of the artists, who are K-pop's precious assets.
