Latest news with #HYBECorporation
Pink Villa
3 days ago
- Business
- Pink Villa
Did HYBE's Bang Si Hyuk downplay CFO's resignation after police raid? All about ADOR director's exit in 400 billion KRW stock probe
HYBE Corporation, the global entertainment giant behind BTS, SEVENTEEN, and LE SSERAFIM, has come under fire. Prosecutors launched a full-scale legal investigation into alleged financial misconduct involving high-ranking executives. The scandal is reportedly centered around illicit profit-making strategies totaling approximately 400 billion KRW (around 294 million USD). Former CFO Lee Kyung Joon steps down One of the most significant developments in the case was the resignation of Lee Kyung Joon, HYBE 's former Chief Financial Officer. Until recently, Lee also served as an internal director at ADOR, the HYBE subsidiary responsible for managing NewJeans. His sudden exit from the company, coming just as the legal probe gained momentum, has raised red flags among industry observers and the public alike. In what many interpret as a damage-control move, HYBE later allegedly downplayed Lee's involvement by referring to him as a 'general employee.' However, official records from a recent shareholders' meeting clearly indicate that Lee was appointed as an internal director at ADOR. This contradict HYBE's public narrative and further fuel skepticism. Search and seizure targets HYBE headquarters South Korean authorities recently conducted an extensive search and seizure operation at HYBE's main office, signaling a serious escalation in the probe. The investigation centers on allegations that Bang Si Hyuk misled HYBE investors before the company's IPO. He reportedly falsely claimed that there were no immediate plans to go public in 2019. This caused some shareholders to sell their shares, unaware HYBE was secretly preparing for an IPO. The shares were then bought by a private equity fund linked to Bang, with undisclosed financial connections. Prosecutors are believed to be gathering evidence related to HYBE's leadership structure and its investment strategies. They are also examining financial decisions that may have violated corporate law. The probe has intensified amid growing concerns that company insiders may have generated a massive profit of 400 billion KRW at the expense of fair market practice and shareholder trust. Who's Involved? HYBE's leadership includes some of the most powerful figures in the entertainment business: Bang Si Hyuk – Founder and Chairman of HYBE Yoon Seok Joon – Global & Business CEO Park Ji Won – HQ & Management CEO Lee Jin Hyung – Chief Operating Officer Kim Tae Ho – CSO Kim Joong Dong – CIO Lee Kyung Joon – Former CFO All these executives are now under close observation as questions arise about the company's internal ethical governance practices. As the case unfolds, it remains to be seen whether additional resignations or disciplinary actions will follow. Public demand transparency Following the announcement of the investigation, fans and online communities have been vocal in demanding accountability from HYBE's leadership. Many fans, while supportive of the artists under HYBE's management, are urging the corporation to adopt stricter oversight and disclose more details about its financial dealings. Netizens have emphasized that any wrongdoing at the executive level should be thoroughly investigated. They want them to be held accountable, regardless of their rank or reputation.
News18
17-05-2025
- Entertainment
- News18
Tom Cruise Praises ‘Very Talented' Jin, Confirms He Worked With The BTS Star
Last Updated: BTS' parent company, HYBE Corporation, also confirmed Cruise and Jin's collaboration. Hollywood icon Tom Cruise has recently surprised the fans as he revealed he had collaborated with BTS' Jin. On May 7, the actor went to South Korea to promote his new film Mission: Impossible – The Final Reckoning, and soon rumours began to swirl that he had met with BTS member Jin. There was no official confirmation on the speculation from either Cruise or Jin. Recently, during an interview with MTV UK, the 62-year-old actor responded to a question on whether he and Jin actually collaborated, to which Cruise confirmed working with the K-pop idol. MTV UK shared the interview clip on X, where Cruise was seen praising Jin and talking about his experience collaborating with him. 'Yeah, yeah, yeah. Very, very talented. It's a lot of fun to watch, man, and they work hard. That's a lot of talent. It's cool," Cruise stated in the brief interview. Previously, there was speculation that Cruise would feature in Jin's web series Run Jin, a show where the BTS member takes on different challenges and activities. Tom Cruise is a confirmed K-pop stan! BTS' parent company, HYBE Corporation, also confirmed Cruise and Jin's collaboration, stating the Hollywood icon recently filmed an episode for Jin's show, but did not disclose the dates. This unexpected crossover caused a considerable buzz among fans. One fan took to the comment section and wrote, 'I still can't believe this is real… Tom Cruise filming an episode with SeoKjinnie, talking about SeoKjinnie, and complimenting him too?!?" While another fan commented, 'Super excited for the episode, absolutely can't wait!" Someone else wrote, 'Can't wait for them to interact with each other." Meanwhile, Tom Cruise is all set for the release of Mission: Impossible—The Final Reckoning, the last part of the franchise. Cruise will be seen reprising his character of Ethan Hunt as he aims to stop Gabriel (played by Esai Morales) from obtaining the dangerous AI called The Entity. This Christopher McQuarrie directorial features a star-studded line-up alongsideTom Cruise, including Hayley Atwell, Simon Pegg, Ving Rhames, and Angela Bassett. The film premiered at this year's Cannes Film Festival and received a standing ovation from the audience.
