HYBE has officially denied reports suggesting that CEO Park Ji Won is stepping down from his position.
On the 24th, a representative from HYBE told JoyNews24, “No decision has been made regarding Park Ji Won’s resignation.”
Earlier, a media outlet reported that Park Ji Won would be leaving the company four years after joining HYBE. According to sources, “Park Ji Won recently concluded external investment negotiations for one of HYBE’s subsidiaries and shared his intentions to resign.” Should Park Ji Won step down, HYBE is expected to announce a new successor.
This afternoon at 2 PM, it was finally confirmed that Park Ji Won has officially tendered his resignation. According to sources in the music industry on July 24, CEO Park recently informed HYBE of his decision and has firmly resolved to step down.
Park Ji Won joined HYBE in May 2020 as the CEO of Big Hit HQ, after serving as the CEO of Nexon Korea until 2014. During his tenure at HYBE, Park oversaw the company’s IPO, rebranding from Big Hit Entertainment to HYBE, and the transition to a multi-label system. He played a key role in transforming the company from an entertainment agency into a major entertainment conglomerate.
Under his leadership, HYBE achieved significant growth with the global success of BTS and the rise of new acts like NewJeans, LE SSERAFIM, and ILLIT. However, the company also faced challenges, including the attempted acquisition of SM Entertainment and controversies surrounding ADOR’s Min Hee Jin.
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