K-Pop Stars Quit Hybe in Shock Revolt That Slams Studio’s Stock
- ADOR expresses regret and says it hasn’t violated contract
- Group’s producer had clashed with the agency’s management
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K-pop superstars NewJeans pulled the plug on their partnership with Hybe Co., escalating an unprecedented uprising that’s transfixed South Korea, wiping out as much as 7% of the studio’s value on Friday.
The chart-topping girl group called a surprise conference Thursday night and declared an immediate termination of an exclusive and money-spinning contract with Hybe-affiliate label ADOR. It’s one of the more dramatic actions in the history of an industry whose biggest stars are often locked into demanding, multi-year pacts — and are typically reluctant to protest publicly.