NewJeans Shocks Fans with Departure from ADOR, Costs HYBE $423 Million

NewJeans has officially parted ways with ADOR, sparking industry shockwaves and a massive $423 million hit to HYBE’s market value.

K-pop sensation NewJeans has made waves in the industry with their unexpected decision to terminate their exclusive contract with ADOR, a subsidiary of HYBE. During an emergency press conference on November 28 (KST), the group confirmed their departure, which follows months of escalating tensions between the members, ADOR, and HYBE’s leadership.

The fallout from the announcement has been significant. Reports on November 29 reveal that NewJeans’ exit has cost HYBE a staggering $423 million USD, leading to a sharp 6.97% drop in the company’s share prices. HYBE’s stock opened at ₩196,000 KRW (approximately $140 USD) on the morning of November 29, down 6.34% from the previous day. Prices fell even further to ₩190,000 KRW (around $136 USD) shortly after, slashing the company’s market capitalization.

NewJeans, who debuted just over a year ago, rapidly rose to prominence and became one of HYBE’s top revenue generators. Their departure stems from reported loyalty to former ADOR CEO Min Hee Jin, with whom they wish to continue working. Tensions between HYBE’s management and Min Hee Jin had reportedly contributed to the group’s decision to leave.

Despite the announcement, ADOR’s current management has expressed a willingness to engage in dialogue with NewJeans, indicating an interest in honoring the group’s contract.

NewJeans’ decision has sent shockwaves through the K-pop world, highlighting the group’s significant influence in the industry and raising questions about HYBE’s future without one of its most successful acts. Fans are now closely watching how this dramatic turn of events will reshape the landscape of K-pop.