Wednesday, April 24, 2024

, , , ,

 

2019

Bang Si-hyuk, the person who raised BTS. Through the global idol group BTS, Big Hit created an entertainment company that reaches another level beyond SM, YG, and JYP.

However, he had a painful memory; while he succeeded in creating boy groups, girl groups were a challenge. Or perhaps, if the nearly successful girl group 'Glam' hadn't threatened Lee Byung-hun... He might have been recognized as a producer who successfully nurtured girl groups as well.

At that time, Bang Si-hyuk, the CEO of Big Hit Entertainment, acquired Source Music, famous for 'GFriend,' for stock exchange listing and girl group launching (July 29, 2019).

And simultaneously, he recruited SM Entertainment director Min Hee-jin to Source Music. She was known for her contribution to the visual design and conceptualization of artists from Girls' Generation to f(x) at SM Entertainment.


During this period, with the recruitment of Min Hee-jin, Source Music actively pushed forward with the launch of a new girl group. Soon, Source Music began a global audition to select members to join New Jeans, starting with Minji (September 4, 2019).

2020

Amidst the COVID-19 pandemic, while the entertainment industry seemed to be contracting, Big Hit continued its momentum by acquiring Pledis, known for 'Seventeen,' and strengthening its determination for a fall listing (May 25, 2020).

BTS achieved their first Billboard Hot 100 chart-topping hit with the new song 'Dynamite' (August 21, 2020).

Finally, in October, Big Hit Entertainment led a surge nearing the stock market, becoming a mega entertainment company with a market capitalization of 11 trillion won (October 15, 2020).

2021

Big Hit ordered a company rebranding to Min Hee-jin and changed its name to HYBE, establishing itself as a global entertainment company with multi-labels (March 10, 2021).


And the tension between Min Hee-jin and Bang Si-hyuk began when Min Hee-jin stated, "I want to debut New Jeans through my solo label, not at Source Music."

Bang Si-hyuk invested 161 billion won, 100% of HYBE's capital, and established a wholly-owned subsidiary, ADOR, through a spin-off from Source Music. He promised Min Hee-jin a salary of 500 million won and stock options of 20%. Then, with trainees Minji, Hanni, Danielle, and Haerin, who were recruited through Source Music, he moved to ADOR (November 12, 2021).

2022

As a result, Source Music suffered from personnel losses and recruited Kim Chae-won and Sakura (March 14, 2022), and debuted LE SSERAFIM (May 2, 2022).

While ADOR partially compensated for the cost of training trainees, it is difficult to see that they fully compensated for the training period and loss of personnel.

ADOR debuted New Jeans with Hyein, achieving the highest first-week sales for a girl group (July 22, 2022).


2023

ADOR, which nurtured New Jeans, skyrocketed from sales of 186 billion won in 2022 to 1.103 trillion won in 2023, in just a year. In response, Bang Si-hyuk attempted to grant the promised 20% ownership in stock options, but Min Hee-jin demanded higher compensation, citing a 45% tax rate at the acquisition point.

Ultimately, leveraging the fact that it was a loss-making company as of 2022, he directly gave 18% low-priced stock ownership instead of stock options. Based on a Hana Securities report, valuing ADOR at 2 trillion won, she received compensation close to 400 billion won (end of '23).

2024

However, as of the end of 2023, tensions over compensation soon surfaced, and Min Hee-jin began collaborating with global heavyweights such as the Saudi sovereign wealth fund and the Singapore Investment Corporation to secure a favorable stake. From HYBE, which owns 80% of Audor, she sought to induce the sale of more than 30% of the stake, aiming for over 50% of management rights, along with friendly funds.

Regarding this, Min Hee-jin created a pressure card to induce the sale of HYBE. She is accused of leaking personal information about HYBE artists and conducting persuasion operations through pre-contact with New Jeans members' families.

In fact, legal guardians (parents) of New Jeans members relayed requests for clarification regarding HYBE's copying New Jeans, and while HYBE requested a meeting with an explanation, it was revealed that New Jeans members' parents refused, citing HYBE's untrustworthy attitudes.

And Bang Si-hyuk, who became frustrated, eventually accepted losses of 850 billion won in market capitalization and initiated an audit.

theqoo

-The parents are also a problem.

-Oh... I get it now.

-Bang Si-hyuk trusted and supported everything, thinking of giving her extraordinary conditions for relocation (setting up a separate label), but ended up being betrayed... 

-What's wrong with the parents of New Jeans... Wow, they seem to have been brainwashed by Min Heejin too.

-Wow, this is very nicely summarized.

-So Bang Si-hyuk trusted Min Heejin only to get betrayed in the end...

-I feel sorry for Source Music

-Human greed knows no bounds.

-Bang Si-hyuk really has no luck.

-Poor Bang Si-hyuk...

-Min Hee-jin crossed the line. Human greed is tremendous.

-Seriously, can it be any worse than this?

-It's not easy to earn 400 billion while working in someone else's company; they treated her well.

-Bang Si-hyuk got stabbed in the back

Blind Post About the Timeline of Bang Si-hyuk and Min Heejin's Dispute

 












instiz

-According to the articles, Min Heejin almost worked for Source Music as well. However, she didn't because she wanted to build her own company. 

-It wouldn't have been bad if they had debuted under Source Music, since So Sungjin is good at making girl groups too. 

-If they had debuted under Source Music, these are not the members we would be seeing...

-If they had debuted under Source Music, they probably would have these members + Kim Chaewon and Sakura, right?

-I personally think it wouldn't have been bad as well... 

-Of course, it wouldn't have been bad. But the lineup would be different from the New Jeans we now know. 

-I agree, though... They have this kind of vibe only because Min Heejin...

-I don't think they had that vibe because of Min Heejin, but because of HYBE...

-Well, if there was no Source Music... There would be no New Jeans at all to begin with...

-Who knows?

New Jeans Wouldn't Have This Kind of Vibe If They Had Debuted in Source Music

,

 

Eunchae: Confidently! So that we can walk confidently at the airport

Hong Eunchae Enters South Korea Amidst Controversy Over Her Singing Skills

LE SSERAFIM Sakura, Expressionless Gaze


LE SSERAFIM Sakura 'Hiding Carefully'

LE SSERAFIM Enters South Korea Amidst Controversy Regarding Their Skills at Coachella

Meanwhile, looking at Kim Chaewon's off-shoulder outfit... It looks like she wants to say that 'I didn't do anything wrong'

pann
[+1,322][-116]

1. [+532][-50] What does an off-shoulder have anything to do with this...

2. [+331][-286] Well, Kim Chaewon indeed did not do anything wrongã…‹ã…‹ã…‹ She's always the only member who carries the whole group with her skills... ã…‹ã…‹ What does her off-shoulder fit have anything to do with the whole thing, OP?

3. [+309][-175] Idols often wear masks and hats to cover their faces after long-flights because their complexion isn't good. Why are you making a big deal out of this?ã…‹ã…‹ã…‹ã…‹ã…‹ã…‹ Grow up. It's very childish of you. 

4. [+307][-18] I mean... Isn't it natural for people to be interested in their arrival photos? Especially because just before they performed at Coachella, Hong Eunchae said on a live broadcast, "When I come back after Coachella, I'll confidently raise my shoulders this high when I enter South Korea, hehehe". This post isn't even harsh criticism...

5. [+296][-181] Whoa... You guys are really one of a kindã…‹ã…‹ã…‹ So, how do you think they should enter the country then? Should they come in all pompous and grand? Or should they wail and cry?ã…‹ã…‹ã…‹ã…‹ You guys really don't know when to stop, do you?

LE SSERAFIM Stated That They Would Be Back to South Korea Confidently...

, ,

 



Doesn't she realize the seriousness of the whole situation? If I were her, I would've controlled my expression

pann
[+48][-174]

1. [+109][-1] Does Minji have any reasons not to smile right now?ã…‹ã…‹ã…‹ Should Minji be crying just because Min Heejin and Bang Sihyuk are fighting?

2. [+70][-2] All these bullshit just because she smiled

3. [+65][-6] Someone said Minji looks ugly when she smiles... Where???? She looks f*cking gorgeous when she smiles;;

4. [+47][-2] Danielle attended an event with such wide smile on her face as well today, though?

5. [+41][-1] I freaking hate people like you who goes through all of her pictures and watches all of her videos just to find something to hate 

6. [+17][-0] Whether she smiled or not, it's none of your business. While you're here, take a look at this beautiful picture of her taken by Getty Images.

Minji is Smiling Way Too Cheerfully...?

 

A man in his 20s was sentenced to prison for brutally killing 76 cats because a cat scratched his car. 

According to News1, Mr. A (26) was prosecuted for violating the Animal Protection Act and sentenced to one year and two months in prison. Mr. A was accused of killing a total of 76 cats in 54 incidents from December 15, 2022 to September 4, 2023 as he travelled around Gyeongsangnam-do, Gyeongsangbuk-do, Daegu, Busan, Chungcheongbuk-do, Gyeonggi-do, and other regions for about nine months. 

According to police investigations, he either adopted cats from internet or caught them on the streets. Then, he reportedly killed them in gruesome ways such as strangling them or mutilating their bodies. The Judge stated, "Considering the planned and repeated nature of the crimes, as well as the cruel methods used, it is inevitable to impose a severe sentence." However, the Judge also acknowledged that this was Mr. A's first offense and that there's a possibility of rehabilitation.

He killed as many as 76 cats. Considering the repeated behavior even after adopting some, it seems like he lied when he said he killed the cats because one scratched his car, just to get leniency.

pann
[+545][-8]

1. [+327][-1] I'm sure he could grow into a murderer. He might start killing people at this point. 

2. [+257][-0] Only 1 year and 2 months for killing 76 stray cats...?????

3. [+232][-0] He killed 76 stray cats. He even went as far as adopting cats just to kill them, and yet he was only sentenced for 1 year and 2 months?ã…‹ã…‹ã…‹ã…‹ã…‹ã…‹ã…‹ã…‹ã…‹

4. [+201][-1] Psychopaths usually start with animals before they start killing humans. Don't let them loose in society. What's up with only 1 year of imprisonment...? He should at least receive a 20-year sentence. He should get beaten to a pulp so that he can't come back into society. Ordinary people wouldn't even think of tormenting small animals. They would feel sorry just by accidentally stepping on their tails, let alone murdering them. However, psychopaths lack in empathy due to their twisted minds. Therefore, they can engage in such behavior without feeling any remorse. It's true that his targets have only been animals so far. But he's only 26 years old. After serving just over a year in prison, who knows if he'll start targeting people? Terrifying, isn't it?

5. [+154][-0] Why would there be a possibility for rehabilitation?

A Man in His 20s Who Killed 76 Stray Cats

 The National Human Rights Commission has launched a survey to gather opinions on this question.

The commission is seeking opinions through the public opinion website 'National Thoughts' regarding the direct cash payment of childbirth and childcare support.

...

Over 900 comments have been posted on National Thoughts.

Opinions vary, with comments such as, "It could be a good incentive for families considering childbirth due to economic reasons," "We're not having children because we don't have money," "We shouldn't burden future generations with debt."

The commission stated that it is still in the process of gathering opinions and that immediate policy implementation is not guaranteed.

theqoo

-You should reduce working hours instead...

-Do you even know how much does university registration fee cost?

-Money is not the issue here. I'm worried about how many side effects there will be if I have a child. 

-Just because you have money, doesn't necessarily mean that everything will be okay. Besides, they're not really going to give you that money anyway. 

-Stop sitting there and talking nonsense and start reducing working hours instead. 

-Nope^^

-Look at the mental state of men in South Korea and see if you still want to have a child with them. 

-No... Raising a child would cost so much more than just 100M KRW. Moreover, we no longer have time to raise children... So, what about starting from reducing working hours?

-Nonsense... What kind of bullshit is this when our country is piling up debt already?

-Why should I gamble my entire life just for 100M KRW?ã…‹ã…‹ã…‹ã…‹ã…‹ã…‹ã…‹ã…‹ã…‹ã…‹ã…‹ã…‹ã…‹ã…‹

-This is sickening

-They're asking a really stupid question here...

-How many times do I have to tell them that money isn't the issue here?

-Nope... But I might change my mind if you offer me a free house and 100M KRW every year until my child becomes an adult.


South Korea Holds a Nationwide Survey: 'Would You Have a Child If You Were Given 100M KRW in Cash?'

, , ,

Bunnies support New Jeans to become a part of HYBE

Min Heejin, stop exploiting your relations with New Jeans and their families

Min Heejin, stop slandering other artists

theqoo

-I feel really bad for the fans...

-Oh... The fans who sent these protest trucks must be the sane ones...

-Please, listen to what the fans are saying

-I bet the fans are the most upset ones in this whole situation

-I think they should've sent it to ADOR Headquarters, though... Anyway, it's still a great move.

-I can't imagine how stressful it must be for the fans...

-So what's going to happen to New Jeans now?

-Oh Gosh... I almost forgot about them. New Jeans is being dragged for nothing here.

-These might be the most normal protest trucks I have ever seen in my entire life.

-It's not too late. So please, refrain yourself from doing more foolish things and fix this. 

-What wrongdoings did the fans commit to deserve this...

-I think the fans sent these trucks for New Jeans to see... It's their way to tell the girls to make the right choice. 

-These fans did the right thing. They need to cut off ties with Min Heejin before she drags them into a bigger chaos. 

-New Jeans' fans are so smart

New Jeans' Fans Send Protest Trucks to HYBE Headquarters

, , , ,

 

Minji joined Source Music in 2017, while Hanni joined in 2019. They both passed the global audition hosted by Big Hit and Source Music. Haerin and Danielle signed their contracts as trainees in 2020. The last member to join was Hyein, who was recruited online. She passed the audition and joined Source Music.

Minji, Hanni, Haerin, Danielle, and Hyein were resources selected by Source Music CEO, So Sungjin. They trained at Source Music until the second half of 2021.

Min Heejin transferred to HYBE in 2019. Her role in the company was as the Chief Brand Officer, overseeing brands across HYBE's subsidiaries.

"① She plans to take charge of creative directing for multiple labels and lead the launch of a new girl group. Additionally, ② She plans to establish a new label to expand capabilities in discovering rookies and music production." (Source: HYBE's press release)

Min Heejin was supposed to prepare the debut of Source Music's upcoming girl group. However, she wanted to lead her own label first. This is how 'ADOR' was born.

Min Heejin selected trainees from Source Music. She transferred Minji, Hanni, Haerin, Danielle, Hyein, and more to her own label and covered their training costs at Source Music..

So, is Min Heejin New Jeans' mother? Yes, in a sense. She brought them into the world, indeed, but it was So Sungjin who 'birthed' them. They are children he invested in for up to three years.

Of course, no one disputes Min Hee-jin's efforts. She recreated Y2K sensibility in a modern way and completed Korean-style easy listening. 

So, Min Heejin received compensation. In the first quarter of 2023, the HYBE board allowed her to purchase 'ADOR' shares at a low price instead of stock options.

As a result, Min Heejin owns 18% (573,160 shares) of ADOR and became the second-largest shareholder. This was also a move for Min Heejin to avoid 45% taxes.

Understandably, ADOR is a privately held company. At the time Min Heejin received the shares, ADOR was in deficit. Its 2022 revenue was 18.6 billion KRW, with an operating loss of 4 billion KRW.

If Min Heejin had received stock options, she would have had to pay 45% tax upon acquisition. However, by receiving shares of a deficit company, she avoided taxes.

Moreover, stock options can only be exercised during employment. If Min Heejin attempts independence, the stock options disappear. However, with shares, she can freely sell them.

Min Heejin also holds put options, the right to sell at a mutually agreed price. The size of the put options contracted with HYBE is estimated to be around 100 billion won.

Last year, Min Heejin said in an interview, "For me, it didn't have to be HYBE because I received similar investment proposals elsewhere."

There's a contradiction. She benefits from HYBE's system. New Jeans members also utilized HYBE's trainee pool. She didn't discover them; she took them (from Source Music)."

theqoo

-And yet, after all that... She's complaining about being mistreated in HYBE...

-It's funny how she keeps acting like she's New Jeans' mother...

-Source Music should get on board with the legal battle

-New Jeans was originally supposed to debut under Source Music. But Min Heejin wanted to hold the position of a CEO, so she separated and made an independent label, which is ADOR. The trainees she took with her were picked out by So Sungjin. 

-And now Source Music is the one who's bearing all the debt... Source Music is such a saint. 

-She's really greedy. She got all the benefits she wanted from HYBE. New Jeans also gained recognition overseas and made a huge success because they were under HYBE. Yet, she claims that she was the one who did it all. 

-I think it'd be fine if New Jeans go back to Source Music, merge with ADOR, and have Min Heejin and the other board members leave.

-Min Heejin was contracted to launch a girl group under Source Music. It's natural that Min Heejin was involved in selecting the members, as they should've been made and launched by Source Music. After finishing that one job, she could've made her own label. But HYBE was kind enough to allow her to take those resources and make their own label. 

-Just get rid of ADOR and put New Jeans back to Source Music

-I think this is worse than the 'Fifty Fifty' case...

-So Sungjin is such a fool

The Source of New Jeans was Source Music ... Min Heejin, the Self-Proclaimed Omniscient

, , , ,

 

Min Heejin, the CEO who produced the group New Jeans, actively refutes the 'takeover controversy' surrounding the company. CEO Min claimed that the background of the incident stemmed from internal issues caused by the rookie group 'ILLIT' copying New Jeans.

On the 22nd, ADOR officially stated, "To protect our artist, New Jeans, and for the healthy development of the Korean music industry and culture, we publicly address the 'ILLIT's plagiarism of New Jeans,'" they said.

ADOR, a subsidiary label of HYBE and the agency of the group New Jeans, previously initiated an audit, alleging that ADOR was planning a takeover.

"A label under HYBE, BELIFT Lab, debuted the five-member female idol group 'ILLIT' last month," ADOR said. "ILLIT copies New Jeans in all aspects of entertainment activities, including hair, makeup, costumes, choreography, photos, videos, and event appearances."

They continued, "Chairman Bang of HYBE produced ILLIT's debut album, and ILLIT's New Jeans copy is not solely the work of the label BELIFT Lab. HYBE and BELIFT Lab have officially raised concerns about the New Jeans, including this incident, as well as a series of actions taken by HYBE regarding New Jeans. However, they refused to admit their mistakes, hastily made excuses, and postponed giving specific answers," they explained.

"In the midst of this, HYBE suddenly notified that they will suspend and dismiss CEO Min from her duties, citing concerns that she 'significantly damages ADOR's corporate value,'" they said. "At the same time, they are attempting absurd media plays, such as claiming that CEO Min 'attempted a takeover.'"

They pointed out, "It is incomprehensible, in terms of common sense, how legitimate protests to protect the cultural achievements of our artist, New Jeans, could harm ADOR's interests or be considered a takeover attempt."

They emphasized, "ADOR will spare no effort to protect the cultural achievements New Jeans has built and prevent infringements caused by copying."

Meanwhile, CEO Min joined SM Entertainment as an ordinary employee in 2002, leading album projects for famous groups such as Girls' Generation, f(x), and SHINee, rising to the position of executive director. In 2019, Bang Sihyuk recruited her to HYBE, and in 2022, she produced New Jeans.

theqoo

-ILLIT's members are just kids... it's heartbreaking to see them being used like this. Even if they have a strong mentality, they must be feeling the impactã… ã… 

-Please stop it, seriously, just give ILLIT a break.

-It's disgusting... bringing these kids into this mess...

-I hope ILLIT does well... It's only been a month since their debut, and when you see them on stage, they don't even look similar to New Jeans... It's just too much.

-How can she have such a good sense of aesthetics and not see the difference? Even if their concepts are similar, the stage concept is completely different.

-I'm sorry, but your stuff isn't new either, it's just a bunch of references.

-Thanks to her, I discovered that ILLIT's songs are good

-Why is she like this? It's pathetic. Especially when she has copied so much herself?

-You copied too, so please stop.

-She copied a lot, too. So, who's pointing fingers at whom now?

-What is she saying? It's not like New Jeans is 100% original with no references?

-If New Jeans also agrees with Min Heejin's claims, it would be really disappointing.

-Seriously, even if your life is falling apart, you shouldn't have dragged New Jeans into this mess. Why didn't you realize that you were making things so difficult for New Jeans?

-Now I feel so sorry for ILLIT....

-You don't have to trash-talk other groups in order to protect your artists, right?

-The more she does this, the worse it is for New Jeans..

-But originally, New Jeans wasn't even the first to come up with their concept... She took references from different places, so why is she acting like she invented it all first?

-That's very cowardly of her. Is she attacking ILLIT to protect New Jeans now???

Min Heejin: 'ILLIT is a Copy of New Jeans... This is Our Effort to Protect the Artists'