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NewJeans' Hanni's previous comment about HYBE's money-mindedness reemerge amid Bang Si Hyuk's 400 billion KRW fraud case
The Bang Si Hyuk stock fraud case has resurfaced Hanni's earlier accusation that the company prioritizes profit-making over artistic values. Read to know more.
HYBE chairman Bang Si Hyuk is currently under intense scrutiny due to allegedly misinforming investors about HYBE's IPO plans and making profits of around 400 million KRW through unfair means. Currently, HYBE is under investigation and public opinion is largely against them. Amid the controversy, Hanni's previous remark regarding the company's greed and lack of artistic integrity gained renewed attention.
Hanni's comment about HYBE and ADOR choosing profit over their artists
NewJeans publicly declared their split from ADOR in a press conference in November 2024. Speaking about the reason for such a big decision, Hanni accused ADOR of abandoning its artistic values for commercial gain. She articulated the girl group's collective thoughts regarding the entertainment label not having any integrity and genuineness, as they didn't care about the NewJeans members' well-being anymore. As per her, the label's actions were disrespectful towards the craft they represent and owe their dedication to.
She called the HYBE-owned ADOR "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."
Check out fan reactions to the resurfaced incident
The majority of fans appeared to be of the same opinion as Hanni. NewJeans' devoted supporters, who stood firmly by the group during the intense public scrutiny surrounding the ADOR conflict, also rallied behind Hanni's resurfaced comment. They highlighted how Hanni was previously criticized and labeled "ungrateful" for speaking out against her agency, but in light of the recent Bang Si Hyuk stock fraud allegations, her words seemed to have been vindicated.
Currently, Bang Si Hyuk's case is being investigated for potential violations of the Capital Markets Act and unfair trading practices related to HYBE's 2020 IPO. If found guilty, he could face severe penalties, including life imprisonment or a minimum of five years in prison, under Article 443 of the Capital Markets Act.
In light of the issue, comments like "Time cleared NJZ (NewJeans' new moniker)" and "Bang PD has done everything possible to kill its (HYBE's) values" flooded social media. Some even bashed the agency's supporters, calling them "clowns," while others expressed their eager anticipation of the quintet to put an end to their hiatus and return back to the K-pop scene.
