On, K-pop sensation NewJeans held an emergency press conference to announce their decision to terminate their contracts with HYBE subsidiary ADOR. The shocking announcement has sent ripples… The post NewJeans Exits HYBE’s ADOR: Here’s What Fans Need to Know appeared first on Where Is The Buzz | Breaking News,

NewJeans also revealed that they want to continue working with Min Hee-jin, the former ADOR CEO and the group’s creative director. Min was removed from her position at the label after HYBE accused her of attempting to gain control of ADOR from its parent company by selling company shares and leaking confidential information.

After NewJeans announced contract termination with ADOR, a big financial blow hits HYBE, amounting to almost half a billion dollars.

"Our contracts with ADOR have ended as of Nov. 29, 2024, and the five of us will start our new activities, free from HYBE and ADOR," the members of NewJeans said in a statement on Friday afternoon.

NewJeans terminated its contract with ADOR on November 28, Soon after, its parent company HYBE started facing the heat. As per Korean media, the shares of HYBE plummeted drastically leaving it losing nearly half a billon dollars in the market,

The sudden exit of K-pop group NewJeans from ADOR has caused HYBE's market value to drop by over $423 million, according to CNBC.

In response, ADOR maintained that its agreement with NewJeans “remains in full effect.” The label urged the group to continue collaborating on upcoming projects. “We respectfully request that the group continue its collaboration with ADOR,” the statement read, according to Reuters.

All five members of NewJeans are exiting their agency, ADOR. Minji, Hanni, Danielle, Haerin, and Hyein revealed their steadfast resolution to leave the company during an emergency press conference held in Seoul on November 28, 2024. The press conference began at around 8:30 p.m. KST.

Minji, Hanni, Danielle, Haerin, and Hyein – have officially announced the termination of their contracts with ADOR. This bold decision comes after the group’s emergency press conference on November 28,

NewJeans announced leaving ADOR due to internal issues. Former CEO Min Hee-Jin subtly supported them by sharing a track on Instagram story.