HYBE avoids charges and expands into China with a new fan messaging service
HYBE, the South Korean entertainment company, faces a significant development as police decide not to pursue charges against the company following a complaint by Min Hee-jin. Meanwhile, HYBE looks to the future with plans to launch a direct messaging service for K-pop fans in Asia via QQ Music.
The police investigation into HYBE, sparked by Min Hee-jin's complaint, has concluded without charges. The complaint alleged illegal gains from the company's Initial Public Offering (IPO). However, no further action will be taken by the prosecution.
In a separate development, HYBE has announced plans to expand its reach in the Chinese market. The company will launch a direct messaging service for K-pop fans in China through a partnership with QQ Music. This move aims to strengthen HYBE's connection with its Chinese fanbase.
Despite recent challenges, HYBE's CEO, Park Ji-won, remains optimistic. He predicts a mid-term rebound for the company, attributing recent losses to restructuring and investment in intellectual property.
HYBE finds relief as police drop charges following Min Hee-jin's complaint. The company also looks ahead with a new messaging service for Asian fans. Despite recent losses, HYBE's CEO predicts a turnaround, attributing setbacks to strategic investments.
