Photo Credit: TV10
Hybe stock (KRX: 352820) is riding high following a court ruling in favor of the K-pop giant – and specifically its Ador subsidiary – amid an ugly contract dispute with NewJeans.
A Seoul court handed down that ruling yesterday, about 11 months after the popular girl group revealed its Ador departure. Unsurprisingly, the unilateral exit announcement (which followed plenty of drama involving ex-Ador head Min Hee-jin) didn’t sit right with Hybe.
Ador made as much clear in the ensuing courtroom confrontation, which, several twists and turns later, has now seen the Seoul Central District Court determine that ousting Min didn’t constitute a violation of Ador’s contract.
As such, the agreement, which runs into 2029 and which the group has long been trying to nix, remains active, according to the court.
Despite this finding and the mentioned share-price spike – more on the latter in a moment – it seems safe to say that NewJeans isn’t ready to resume making music under the Hybe/Ador banner. The act, which has been squarely in Min’s corner from the outset, promptly confirmed plans to appeal.
On the other side of the face-off, Ador is still looking to mend fences with the professionals behind “Ditto.”
In a statement to DMN, the company – which, many superfans are noticing, is posting via NewJeans’ Instagram page, YouTube channel, and more – once again extended an olive branch.
“We sincerely hope that today’s judgment, which comes after long-term verification of various claims and facts and reaffirms prior rulings, will serve as an opportunity for the artists to calmly reflect on this matter,” Ador communicated in part.
“ADOR is committed to re-emphasizing its role and responsibilities as NewJeans’ management agency,” the entity proceeded. “As we stated during the trial, we have completed preparations for the artist’s activities, including the release of a studio album, and are waiting. We will do our utmost to return to the fans through discussions with the artist.”
Not covered by the statement is Ador’s firm opposition to welcoming back Min. NewJeans, on the other hand, has worked with the individual from the get-go and only announced the aforesaid departure after Ador refused to let her rejoin as CEO.
Stated differently, time will tell whether the parties can overcome this central hang-up – and whether NewJeans, whose oldest members are just 21, will resume making music.
To state the obvious, artists and labels needn’t be on great terms to work together. Currently spearheading an appeal of his own in the “Not Like Us” suit against Universal Music, Drake has nevertheless managed to drop multiple singles on the year, with an album reportedly set to debut before 2025’s conclusion.
In any event, as highlighted, Hybe stock spiked following the court ruling, including a 5% improvement during today’s trading.
Admittedly, some of the stock’s 2025 growth is the result of enthusiasm surrounding BTS’ comeback; shares are up about 74% from the year’s beginning at ₩341,000 ($239) apiece. But the price also represents a 20% boost during the past five trading days alone.
