CEO Park Ji-won Reportedly to Resign from HYBE After 4 Years


HYBE's CEO Park Ji-won suddenly resigns after 4 years. It is said that during his tenure, he contributed to improving the company's constitution by driving HYBE's successful IPO and reorganizing the company into a multi-label system. According to the investment industry on July 24, CEO Park Ji-won decided to resign and leave the company.

CEO Park Ji-won is a person who has made a name for himself by serving as CEO of Nexon Korea since 2014. Even before taking office as CEO, he assisted Nexon founder Kim Jeong-ju and led major mergers and acquisitions. He is considered the most trusted person by founder Kim Jeong-ju in the non-development sector. He served as Nexon Global COO since 2018 and left Nexon in 2020.

CEO Jiwon Park joined HYBE in May 2020. He took over as CEO of Big Hit HQ, carried out the IPO, company name change, and reorganization of the multi-label system. He is credited with contributing to improving the structure and restructuring the business structure to suit the fact that HYBE started as an entertainment agency and has grown into a large entertainment company.

During his tenure, HYBE achieved rapid growth thanks to BTS's dominance in the global market and the growth of New Jeans, Le Seraphim, and ILLIT. On the other hand, there were quite a few storms due to the SM Entertainment acquisition push and the Min Hee-jin scandal.

It was initially expected that he would join hands with Lee Soo-man, CEO of SM Entertainment, to take over the company's management rights, but Kakao entered the takeover battle and did not achieve his goal. During this process, Kakao is accused of manipulating the market price for the purpose of hindering HYBE's tender offer. For this reason, Kakao founder Kim Beom-soo was recently arrested and imprisoned.

Controversy arose over Adore CEO Min Hee-jin's breach of trust (or betrayal of the parent company, HYBE, and in the process, the battle between HYBE and CEO Min intensified.

Meanwhile, representative Park and HYBE stated that "no decision has been made", but it is known that HYBE will soon specify the subsequent appointment of a representative.


Source: 1

Ciera Reeves

Ciera is the founder and Editor-in-Chief of KpopWise. She has been a fan of Korean pop culture since 2005 and writing about it since 2009. Her bias groups are VIXX and OnlyOneOf. She is a 2nd-3rd generation K-pop fan, but she is actively keeping up with the current artists. twitter instagram

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