사진 확대

There was a leader we trusted and followed.

He seemed like a new yet powerful North Star in the music industry represented by SM, JYP, and YG. This refers to Bang Si-hyuk, the chairman of HYBE, who rose alongside the global syndrome of BTS (Bangtan Sonyeondan).

Where he was, there was an unknown world, an intriguing worldview, and the 'next' we anticipated. The sharp edge that broke the formalized formula of K-pop was also attractive. Countless stars shone, starting with BTS, followed by NewJeans, Seventeen, LE SSERAFIM, and ILY:1.

However, perhaps he could not shape that brilliant and honorable time more meaningfully, and now the words laid before him have changed. Accusation, conflict, disappointment, crisis, and silence.

On the 17th, the financial authorities reported Bang Si-hyuk, chairman of HYBE, to the prosecution on charges of stock manipulation.

The allegations are not simple. They involve the timing of convertible bond issuance, stock sales, self-dealing circumstances, and the possibility of utilizing internal company information. The 'design' that enabled HYBE's rapid expansion has now become the subject of legal suspicion.

Since the related issues first arose, he has repeatedly stated, "This is unfounded," "I will sincerely clarify," and "I will restore trust," but ultimately, it is an unavoidable sequence of events.

He continues to express his innocence. HYBE stated, "It is unfortunate that the fact that the largest shareholder actively clarified that there was no pursuit of personal gain under the premise of listing was not accepted," and added, "We respect the financial authorities' decision and will do our best to actively clarify the related suspicions in the upcoming investigation to restore trust from the market and stakeholders."

Of course, legal issues can be resolved legally. It will take quite some time. However, what has collapsed faster than numbers or allegations is the trust in his leadership. The brand HYBE, as well as the buzz surrounding the artists that should be in the spotlight now, have been overshadowed by noise.

사진 확대

The extreme conflict with Min Hee-jin, CEO of ADOR, was not just a simple internal dispute.

BTS and NewJeans are the representative boy group and girl group of HYBE, the two major mountains. Even during BTS's military hiatus, the issue was not managed with caution and systematic focus; instead, it endlessly branched out into conflicts.

As a result, the legal battles surrounding NewJeans have shaken the trust in another agency that is supposed to be responsible for HYBE's future after BTS, as well as its artists. The fandom has split, and the brand has been bruised. BTS was on military hiatus, and NewJeans was in the most sensitive growth period. For ILY:1, an uncomfortable label of 'plagiarism idol' emerged, regardless of the truth.

However, Chairman Bang Si-hyuk has shown no sense of responsibility in all these situations. The internal system he has built up extensively appears even more flimsy. He could not even provide an answer to the question, "Who is responsible for this chaos?"

The leader's temperature was simply cold. News about HYBE was plastered not on the entertainment pages but on the social pages. The staff were in a frenzy, and shareholders' anxiety grew. The music industry also became chaotic. What he left behind in that war was nothing but parody photos of the fruit juice parody that turned into a laughingstock and a colorless commentary of "I will keep an eye on it."

사진 확대

Thus, Bang Si-hyuk's leadership is collapsing.

A good producer and an excellent leader are different. A leader must be the first to take responsibility in the face of a crisis. They must step up and show it. Whether the conflict with CEO Min Hee-jin was emotional, about authority, or philosophical, wasn't it Bang Si-hyuk himself who created that entire structure?

And even at the moment that structure is collapsing, he has not taken any courageous actions or statements for the public or for his own people. No, he could not.

We are still waiting for BTS and continue to support NewJeans, but the 'story' behind them no longer rests on trust.

HYBE's asset value still fluctuates around 10 trillion won. However, the value of the people, names, and trust contained within it may be difficult to recover.

Leadership is not about words; it is about management. Even a well-built tower will collapse if managed poorly.

If he could not prevent the crisis, he should have taken responsibility, and if he could not take responsibility, he should have stepped down from that position. The moment a leader is muted, it is the artists who collapse in their place.

The damage caused by his silence, incompetence, or evasion will likely last much longer than music. I sincerely hope he manages this properly. For the artists loved by the world, not him. I hope that the soulless trust he recites as an official statement will be shown through actions and results. ♥

사진 확대