Media Watch CEO “Bang Si-hyuk, Trying to Ruin NewJeans + HYBE Shareholders Should File for Compensation”

On Sep 14th, Byun posted a video on his YouTube channel titled "The Reason Why The Mental State Of Bang Si-hyuk, Who Suppresses NewJeans, Is Strange". He pointed out, "Instead of trying to raise HYBE's company value, Bang is recklessly saying that he will destroy NewJeans and ADOR's former CEO Min Hee-jin, even if it means ruining everything. Isn't this madness?"















He continued, "Since he is engaging in illegal activities and causing HYBE's stock price to drop, shareholders can file a compensation claim and charge him with breach of duty. Bang's personal emotions, whether it's an inferiority complex toward former CEO Min or something else, are ruining HYBE's assets. He should be held accountable for breach of duty. If Min’s injunction starts winning legally, shareholders will no longer tolerate it."








Byun also said, "This (dispute between HYBE and former CEO Min) is a battle between capitalists and creators. Regardless of who holds ownership, at the very least, the creator's right to manage the work they made should be respected."








He added, "As soon as NewJeans became active in April this year, Bang went after Min’s position. He struck her while NewJeans was promoting, causing a riot when the stock price was rising. The stock price then plummeted. He shook Min's position within the company. It’s clear that NewJeans' future is now uncertain. The chairman, who is also the major shareholder, blocked their activities, and after the stock price dropped, he dismissed Min, causing another downturn."















Byun pointed out that support from figures like S.E.S.'s Bada for Min was significant. "While Bang may hold ownership, assets and capital, it was Min who actually planned NewJeans. The creator's right to manage their work should be recognized. It would be meaningful for creators to come together and drive someone like Bang out of the entertainment industry."








In a previous YouTube video on May 2nd, Byun said, "This is an incident where someone with money and power has infringed on a creator’s rights. Although improvements have been made in the cultural and arts industries, Bang is repeating old, harmful behaviors." Regarding the plagiarism dispute between NewJeans and ILLIT that Min raised, he said, "Just because he is a major shareholder, can he do that? Could Lee Jae-yong, chairman of Samsung, steal ideas or technology from subsidiaries for his personal company? Even in corporate law, a major shareholder cannot arbitrarily steal from their own company."








On Aug 27th, ADOR dismissed Min Hee-jin from her position as CEO. While they announced that she would continue to handle NewJeans’ producing, Min protested, calling it an unfair contract. On Sep 11th, NewJeans members requested during a live broadcast that Min be reinstated by Sep 25th, and the next day, HYBE CEO Lee Jae-sang said at an emergency shareholder meeting that they would respond calmly and in accordance with principles. On Sep 13th, Min filed an injunction with the Seoul Central District Court, requesting her reinstatement.








Source: Naver











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