HYBE CEO Blasted After Addressing Financial Concerns And NewJeans Controversies
HYBE CEO Lee Jae Sang has been under fire after reports of him addressing the company’s current alleged issues surfaced. According to TenAsia, Lee recently addressed financial concerns and the NewJeans situation in an attempt to reassure staff.
Speaking at a town hall event, Lee emphasized that the company’s financial health is strong, boasting that HYBE has ₩1.20 trillion KRW (about $881 million USD) in available cash. His comments were meant to ease fears, particularly regarding the recent concerns over HYBE’s ₩400 billion KRW (about $294 million USD) convertible bonds and its repayment risks.
In an effort to calm the waters, Lee reassured employees. During his speech, he also emphasized the concept of “Team HYBE,” which has attracted the attention of netizens.
HYBE has ₩1.20 trillion KRW (about $881 million USD) in available cash, and the company’s financial status is very healthy. Our business is performing well in terms of numbers, so there is no need to worry.
We are Team HYBE. Let’s support each other with kind words to uplift one another.
— Lee Jae Sang
Lee also addressed the tricky situation involving ADOR, NewJeans, and former ADOR CEO Min Hee Jin. He promised things would resolve with time and belief.
We are handling matters according to principles and reason. If you believe and wait, things will gradually be resolved.
— Lee Jae Sang
Industry experts believe that Lee’s comments were a direct response to growing concerns about the company’s financial stability, particularly its ability to manage its debt. They note that the successful issuance of convertible bonds earlier than expected and with favorable conditions indicates the market’s confidence in HYBE’s growth potential.
However, despite these reassurances, many remain unimpressed, especially after Lee’s call for solidarity, urging everyone to unite under the banner of “Team HYBE.” While the CEO’s message aimed to promote unity and collaboration, some felt it was out of touch.
- “Waiting for what, until all of the BTS members finish their military service?”
- “Since they said artists aren’t considered internal members, does that mean ‘Team HYBE’ is just the guys who came from that gaming company?”
- “Since when did ‘Team HYBE’ become a thing? LOL”
- “How does it make sense to claim they have a lot of money after borrowing so much from others? LOL”
- “I know ‘Team Bunnies,’ but there’s a ‘Team HYBE’ now?”
- “Let’s see how far this goes.”
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