HYBE CEO Lee Jae Sang Criticized After Addressing Financial Concerns and NewJeans Controversy

Netizens Express Doubts Over His Statements.

HYBE CEO Lee Jae Sang is currently facing backlash after he addressed financial concerns and controversies involving NewJeans during a recent town hall meeting. Reports of his comments surfaced, stirring reactions from both the public and industry insiders.

Financial Concerns Addressed

During the event, Lee Jae Sang sought to calm worries about HYBE’s financial status, assuring staff that the company remains financially secure. He highlighted that HYBE has ₩1.20 trillion KRW (approximately $881 million USD) in available cash, downplaying concerns over the company’s ₩400 billion KRW (around $294 million USD) convertible bonds and potential repayment challenges.

“HYBE has 1.2 trillion KRW in available cash, and the company’s financial status is very healthy. Our business is performing well in terms of numbers, so there is no need to worry,” said Lee Jae Sang.

However, despite the CEO’s reassurances, many remain skeptical about the company’s ability to manage its debt. Although industry experts acknowledge that the early issuance of these bonds with favorable conditions shows market confidence, the general public remains unconvinced.

The “Team HYBE” Call for Unity

In addition to financial discussions, Lee Jae Sang emphasized the need for solidarity within HYBE, coining the term “Team HYBE” as a call for support among the company’s staff and artists. He urged employees to uplift one another and remain united in facing the challenges ahead.

“We are Team HYBE. Let’s support each other with kind words to uplift one another,” said the CEO.

This message, however, didn’t sit well with many. Netizens felt that his statements were disconnected from reality, especially given the ongoing concerns over NewJeans and the situation with ADOR and its former CEO, Min Hee Jin.

Addressing the NewJeans Controversy

On the issue of NewJeans and the controversy surrounding their management, Lee Jae Sang reassured that the matter is being handled properly. He encouraged people to trust the process, promising a resolution over time.

“We are handling matters according to principles and reason. If you believe and wait, things will gradually be resolved,” he said.

However, many online commenters felt that his remarks lacked substance and were out of touch with the frustrations fans have voiced over the group’s treatment.

Netizens React

Following the event, netizens quickly took to online platforms to express their dissatisfaction with Lee Jae Sang’s speech. Criticisms ranged from skepticism about the company’s financial health to doubts about the sincerity of the “Team HYBE” sentiment. Many questioned whether the company was truly prioritizing its artists and financial stability.

Here are some of the reactions from TheQoo:

• “Are you waiting until all the BTS members finish their military service?”
• “Since they said artists aren’t considered internal members, does that mean ‘Team HYBE’ is just the guys who came from that gaming company?”
• “Since when did ‘Team HYBE’ become a thing? LOL”
• “How does it make sense to claim they have a lot of money after borrowing so much from others? LOL”
• “I know ‘Team Bunnies,’ but suddenly now there’s ‘Team HYBE’?”
• “Let’s see how far this goes.”

It’s clear that despite HYBE’s efforts to reassure, many remain unconvinced of the company’s direction, leaving questions about its future.

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