Amid the feud between Min Hee Jin, the CEO of ADOR, and HYBE, the investment the major company placed in ILLIT versus NewJeans was released.
Though a few days have passed, the internet is still buzzing about Min Hee Jin's press conference. During the conference, Min Hee Jin accused HYBE of several things, including copying NewJeans' formula of success for ILLIT's debut. Now, how much money HYBE invested in both groups has been compared.
Keep on reading for all the details.
How Much Did HYBE Invest in ILLIT vs. NewJeans?
On April 29, 2024, Korean media outlet Newsen reported on how much HYBE invested in both ILLIT (BELIFT Lab) and NewJeans (ADOR) for their debuts.
During the press conference, Min Hee Jin claimed HYBE neglected NewJeans. To counter this, HYBE revealed just how much they invested in NewJeans. They reportedly provided 16.1 billion KRW (approximately $11,664,390.43 USD) for Min Hee Jin to establish ADOR.
Read also: NewJeans Naver Profile Draws Attention For Significant Change Amid HYBE & Min Hee Jin Conflict
The money Min Hee Jin received went into the production of NewJeans' debut. This includes flying not only the members, but staff as well, overseas to film the music videos for "Hype Boy" and "Attention." Additionally, this money went into staffing fees, administrative costs, and more.
Amid the buzz, news channel broadcasters Kim Eo Jun and Park Si Dong revealed just how much ILLIT received for their debut.
Read also: HYBE Claps Back To Min Hee Jin's Claims That NewJeans Delayed Debut Was Due To LE SSERAFIM
According to the two, ILLIT received 150 billion KRW (approximately $108,675,975.00 USD). This means, in USD, ILLIT received $97,011,584.57 more than NewJeans.
This money includes activities ILLIT embarked on before making their debut. After the final line-up was determined from the survival show "R U NEXT?" the members of ILLIT went on to film new content, such as reality shows, for fans.
On top of that, ILLIT's music video for "Magnetic" was filmed overseas.
What do you think of the situation? Tell us in the comments below!
Min Hee Jin Denies Trying to Take Over All Management Rights of ADOR
At an emergency press conference on April 24, 2024, ADOR CEO Min Hee Jin denied attempting to seize total control of ADOR from HYBE.
She said, "There has been no plan, intention, or execution of taking over the label."
Min Hee Jin called the situation a "frame-up to suck me dry and then squash me," and she went on to voice her frustration, saying, "It's not me betraying HYBE; it's HYBE betraying me."
KpopStarz Owns This
Written by Alexa Lopez
