A previous comment made by Hanni of NewJeans regarding HYBE’s emphasis on profit has gained renewed attention. This comes as Bang Si Hyuk, the chairman of HYBE, is facing an investigation into alleged stock fraud involving 400 billion KRW. The situation has led to increased public scrutiny of HYBE.
The HYBE chairman is currently under close examination for allegedly giving misleading information to investors about HYBE’s initial public offering (IPO) plans. He is also accused of earning around 400 million KRW through unfair methods. HYBE is currently under investigation, and public opinion largely appears to be against the company.
Hanni’s Previous Statements Regarding HYBE’s Priorities
NewJeans publicly announced their separation from ADOR during a press conference in November 2024. Explaining their reasons for this important decision, Hanni stated that ADOR had moved away from its artistic principles in favor of financial gain. She shared the girl group’s shared feelings that the entertainment label lacked integrity and honesty, as they no longer seemed to care about the well-being of the NewJeans members. According to Hanni, the label’s actions showed disrespect for the art form they represent and are dedicated to.
Hanni described the HYBE-owned ADOR as “a company that no longer has any sincerity in the art of music, a company that only has thoughts about making money, and doesn’t have any conscience about the negative effect they create through their non-authentic means.”
Public Reaction to Hanni’s Resurfaced Comments
Many fans expressed agreement with Hanni’s statements. Dedicated supporters of NewJeans, who stood by the group during the public attention surrounding the ADOR conflict, also supported Hanni’s resurfaced comment. They pointed out how Hanni had been criticized before and called “ungrateful” for speaking against her agency. However, given the recent allegations of stock fraud against Bang Si Hyuk, her words now seem to be seen as justified.
Bang Si Hyuk’s case is being investigated for possible violations of the Capital Markets Act and unfair trading practices related to HYBE’s 2020 IPO. If found responsible, he could face serious penalties, including life imprisonment or a minimum of five years in prison, according to Article 443 of the Capital Markets Act.
Following the current situation, comments such as “Time cleared NJZ (NewJeans‘ new name)” and “Bang PD has done everything possible to kill its (HYBE’s) values” were widely shared on social media. Some online users also criticized the agency’s supporters, while others expressed their hope for the group to end their break and return to the K-pop scene.
Current Status of the Investigation
The investigation into Bang Si Hyuk and HYBE is continuing. Authorities are examining the details surrounding the company’s IPO and the alleged financial gains. The outcome of this investigation could have significant consequences for HYBE and its chairman. The public continues to watch for further developments as the legal process moves forward.
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CREDITS: NewJeans’ X, Bang Si Hyuk’s Instagram
