Park Ji-won, CEO of Hive. Provided by Hive Regarding the launch of an audit of Adore executives on the grounds of an “attempt to seize management rights” from its affiliated label Adore, Hive CEO Park Ji-won said, “Through this audit, we will confirm (the truth) in more detail and take action.” “It is,” he said.
According to the music industry, CEO Park sent an email to members of Hive this morning, emphasizing, “We have come to understand that the issues that are currently problematic were planned in advance, regardless of the timing of Aillet’s debut.”
Hive began an audit the day before after discovering that Adore CEO Min Hee-jin and others had attempted to become independent from Hive by securing management rights. When CEO Min recently raised the issue with Hive that the girl group Eyelet, which debuted last month under Hive’s label Belif Lab, copied Adore’s New Jeans, CEO Min responded that they were trying to fire him.
CEO Park said, “This issue clearly revealed an attempt to take over the company, so we began an audit to confirm and correct this.” He added, “If certain aspects of the details that have already been confirmed inside and outside the company are further revealed through this audit, the company will be subject to further investigation.” “We will take clear action against those responsible.”
He said to the members of Adore, “Please do your best in your work for New Genes’ comeback and growth,” and added, “Hive places the highest priority on protecting artists and members. “Everyone involved should make special efforts to ensure that the artist (New Genes) is not shaken by this incident,” he said.
Regarding Belif Lab, he said, “I know better than anyone else what efforts were made for Aylet’s debut. “You may be upset by the news that suddenly broke out, but please do not be offended by untrue content and work hard to make Aylet successful.”
He said, “This problem is another trial and error that may arise because we have been sincere in executing the direction we are pursuing.” He added, “We will discuss what needs to be improved upon in order to successfully conclude this issue and advance our multi-label, New Genes.” “We will continue to think about and improve what needs to be done for the growth and development of and Aillet,” he added.
Adore is a company created in 2021 by Hive, chaired by Bang Si-hyuk, with a capital investment of 16.1 billion won, and is currently a member of the popular girl group New Jeans. Adore recorded sales of 110.2 billion won, operating profit of 33.5 billion won, and net profit of 26.5 billion won in 2023.
Hive owns 80% of Adore’s shares, and CEO Min owns 18%.
Hyewon Lee, Donga.com Reporter hyewon@donga.com
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