HYBE Revealed To Have Received Around 3 Million USD From ADOR Right After Min Hee Jin Was Dismissed
It was recently alleged that HYBE had received ₩4.00 billion KRW (about $2.98 million USD) from its subsidiary ADOR, listed September 30, 2024. Fans found the timeline suspicious, as the company had unilaterally dismissed former CEO Min Hee Jin from her position on August 27, 2024.
The transaction was listed as funds for a gaming business. It is open knowledge that HYBE has been trying to delve into the gaming sector. Fans are upset that HYBE has been taking money from music subsidiaries earned by the artists to pour into their gaming businesses. Bunnies called them out for this.
하이브 실체를 드러내다. 이럴 줄 짐작은 했지만……
9월 30일자 하이브아이엠 공시내용을 보면
(동일인등출자계열회사와의상품ㆍ용역거래변경)3/4분기(7~9월) 게임사업 명목으로 40억을 어도어로부터 받아냄.
무려 직전사업연도매출액의 13.47% 정도를 차지하는 금액임
작년 거래는 반대로… pic.twitter.com/DGstV9EhF7— 뉴진스포에버 (@newjeans0422) October 8, 2024
I’m revealing the true nature of HYBE. Although I had already expected this…
If you look at the HYBE I.M announcement from September 30 titled Change of Product and Service Transactions with Subsidiary Companies of the Same Person, etc, they received ₩4.00 billion KRW (about $2.98 million USD) from ADOR in the third quarter for game businesses. The amount accounts for 13.47% of sales in the previous fiscal year. Last year, on the contrary, ADOR only received ₩78.0 million KRW (about $58,100 USD) from HYBE I.M.
The unilateral dismissal of the CEO was August 27.
ADOR’s board of directors’ meeting concluded on September 27.
HYBE I.M’s board of directors’ meeting concluded on September 30.
Based on the service transaction records, it sems like ADOR’s management has been taken over and will continue to pour money into a gaming business no one even wanted. They want to take all the money that is supposed to be paid out to the kids.
BTW, HYBE I.M capital total is ₩700 million KRW (about $521,000 USD) and they have a debt total of ₩65.0 billion KRW (about $48.4 million USD).
— newjeans0422
HYBE continues to face criticism for their actions. With this new discovery, many netizens are calling the company out for persisting in their game business, even going as far as to take money from other subsidiaries to cover up their coffers.
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