A recent statement by the HYBE minority shareholders association, released on November 12, has sparked widespread discussion online. The association expressed its stance regarding ongoing controversies surrounding HYBE, former ADOR CEO Min Hee Jin, and other entities. However, the statement has faced strong criticism from Korean netizens, many of whom believe it went too far.
Full Statement by the HYBE Minority Shareholders Association
The statement shared by the association is as follows:
“To prevent confusion, HYBE minority shareholders have been silent for the past couple of months, even though we have suffered from unnecessary media wars with former ADOR CEO Min Hee Jin, which caused a decline in stock prices and other damages.
However, we can no longer watch HYBE, a prestigious leader in K-Pop who promotes national prestige and dedicates itself to an export company, be attacked by the media, politics, and certain fandoms.
Thus, our association releases the following statement.
First, HYBE should use this incident as an opportunity for deep reflection to overcome the company’s unreasonable aspects and improve communication and transparency.
First, Min Hee Jin of ADOR should stop dragging K-Pop artists, including NewJeans and HYBE, into her dispute.
First, the political circle should stop slandering and attacking HYBE based on one-sided claims of a certain fandom.
First, certain fandoms should cease unnecessary lawsuits and petitions, adding fatigue to both Korean and international K-Pop fans.
First, media outlets should report on the HYBE and Min Hee Jin case with a balanced perspective based on objective information.
The HYBE minority shareholders association will take all measures, including legal action, to hold those accountable who commit unnecessary damage to HYBE, including Min Hee Jin, certain fandoms, and the political circle.
Lastly, the HYBE minority shareholders, as fans of HYBE artists, will continue to support the company’s development and protect its corporate value.”
Netizens Voice Their Displeasure
Korean netizens expressed frustration and skepticism toward the statement, criticizing its tone and approach. Reactions from online forums included:
“The people that made the first move against Min Hee Jin -> HYBE. The people who rejected Min Hee Jin’s reconciliation -> HYBE. The people who wrote the internal documents -> HYBE. The people that have continued controversies because they didn’t reflect properly -> HYBE.”
“Eww I smell something rotten.”
“Please just f*ck off.”
“Acting so holy.”
“Aigoo.”
Others questioned the credibility and intentions of the minority shareholder association, stating:
“These people don’t even have proof that they are shareholders.”
“Even the major shareholders are just watching, why are they making a fuss.”
“Just make Bang Si Hyuk leave.”
“They probably are happy seeing that their statement made it to the HOT category.”
“Why don’t you properly apologize to the other idols first.”
“No matter how I see it, I don’t see them as an entertainment company.”
“I guess they were too embarrassed to use their real association name.”
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