NewJeans has officially announced their departure from Hybe's Ador, amid an ongoing dispute with the K-pop company. The group made this announcement during a recent press conference, though Ador maintains their contract remains valid until 2029.

Key developments in the situation:

• NewJeans issued an ultimatum two weeks ago demanding the reinstatement of former Ador head Min Hee-Jin
• The group cited concerns about poor treatment and lack of protection from the company
• Members expressed that continuing with Ador would cause "mental stress" and be "a waste of time"
• The group plans to fulfill existing obligations in Japan
• Members have shown interest in working with Min Hee-Jin again
• They may perform under a different name moving forward

Ador's response:

• Claims the contract termination has no legal grounds
• States the contract is valid until 2029
• Requests a meeting to find a solution
• Plans to bring in new producers to replace Min Hee-Jin

Market impact:

• Hybe's stock (KRX: 352820) experienced a significant decline
• Shares fell to ₩195,000, marking an 11% weekly decrease
• Overall decline of 19% since the start of 2024

This situation could have broader implications for K-pop industry contracts and artist-management relationships. The outcome may influence how future contracts are structured and negotiated within the K-pop industry.

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