On, K-pop sensation NewJeans held an emergency press conference to announce their decision to terminate their contracts with HYBE subsidiary ADOR. The shocking announcement has sent ripples… The post NewJeans Exits HYBE’s ADOR: Here’s What Fans Need to Know appeared first on Where Is The Buzz | Breaking News,

After NewJeans announced contract termination with ADOR, a big financial blow hits HYBE, amounting to almost half a billion dollars.

NewJeans also revealed that they want to continue working with Min Hee-jin, the former ADOR CEO and the group’s creative director. Min was removed from her position at the label after HYBE accused her of attempting to gain control of ADOR from its parent company by selling company shares and leaking confidential information.

"Our contracts with ADOR have ended as of Nov. 29, 2024, and the five of us will start our new activities, free from HYBE and ADOR," the members of NewJeans said in a statement on Friday afternoon.

The BTS parent company has been battling for control of the lucrative girl group after splitting with NewJeans creator director, Min Hee-jin.

South Korean pop band NewJeans terminated contract with their agency Ador in an emergency press conference on9. The girl band's decision caused an upheaval for South Korea's largest K-pop agency HYBE,

As strange as it was, it happened — members of NewJeans ended their exclusive contracts with their agency ADOR. The jury is still out over whether the action is legitimate, but the more pressing issue is what ADOR and HYBE are going to do about it.

The sudden exit of K-pop group NewJeans from ADOR has caused HYBE's market value to drop by over $423 million, according to CNBC.