Park Ji Won to step down as CEO of HYBE after four years

Park Ji Won is expected to resign as the CEO of HYBE after a four-year tenure marked by significant achievements and internal conflicts. According to reports from July 24, Park expressed his intention to step down after successfully securing outside investment for one of HYBE's affiliates. An insider noted, "From my understanding, Park shared his position [on retirement] after recently completing his project of attracting outside investment for one of HYBE’s affiliates."

Park joined HYBE in May 2020 after a successful career at Nexon, where he was instrumental in the company's growth and stock market listing. He assumed the CEO position at HYBE in 2021, following Bang Si Hyuk’s transition to focus on his role as chairman and music production. Under Park's leadership, HYBE went public on the Korea Exchange and acquired American entertainment company Ithaca Holdings in 2021.

Despite these achievements, Park’s tenure has not been without controversy. Recently, HYBE has been embroiled in disputes with its subsidiaries, particularly ADOR, led by CEO Min Hee Jin. The conflicts escalated when HYBE initiated an internal audit against ADOR executives for allegedly attempting to secure a third-party investor without proper authorization.

HYBE’s statement to MTN and Joy News24 indicated that no official decision has been made regarding Park’s resignation yet. As the company navigates these changes, Park Ji Won’s departure signals a significant shift in HYBE's leadership and strategy. His resignation follows a period of rapid expansion and public scrutiny, especially in light of the internal conflicts and his past controversies at Nexon.