Update: HYBE CEO Park Ji Won Resigns From Position + HYBE Announces Plans To Appoint CSO Lee Jae Sang As New CEO

Updated July 24 KST:

HYBE CEO Park Ji Won has officially announced his resignation.

On July 24, Park Ji Won addressed the company’s employees in a letter, explaining that there is a scheduled town hall meeting next Tuesday at which he intended to discuss HYBE’s mid-to-long-term growth strategy dubbed “HYBE 2.0.”

Acknowledging the media reports about his position, he wrote, “I thought it was inappropriate to leave you in confusion until the town hall meeting.

Park Ji Won highlighted HYBE’s rapid growth over the past three years and noted that the executive team has been planning for the next five years, focusing on sustaining growth. “We believe new leadership is necessary to drive the changes required for HYBE 2.0,” he shared, confirming his resignation.

He also revealed that the current HYBE CSO Lee Jae Sang has been preparing to lead HYBE 2.0 as the new CEO. Park Ji Won will remain as an employee of the company.

HYBE additionally commented, “Lee Jae Sang, who we have planned to appoint as CEO, is an entertainment industry expert with extensive experience in strategic planning and operations both domestically and internationally,” and added, “We expect him to leverage his capabilities to help HYBE grow into an advanced entertainment lifestyle platform company based on music and technology.”

Lee Jae Sang will officially be appointed as HYBE’s new CEO following approval from the shareholders’ meeting and the board of directors.

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Original Article: 

Park Ji Won, the CEO of HYBE, may be stepping down from his position.

On July 24, investment industry insiders disclosed that Park Ji Won has decided to resign after recently completing an external investment initiative for one of HYBE’s subsidiaries.

In response to the reports, HYBE briefly commented, “Nothing has been decided yet.”

Park Ji Won gained recognition as the CEO of Nexon Korea, a leading video game company, starting in 2014. He joined BIGHIT MUSIC (now HYBE) in May 2020.

During his time at HYBE, Park Ji Won was instrumental in establishing a multi-label system and supporting the success of affiliated artists. However, his time at the company was also marked by conflicts with ADOR’s CEO Min Hee Jin.

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