South Korea’s largest K-pop agency Hybe added about $644 million in market value Thursday after a court reportedly ruled that girl group NewJeans’ contract with its sublabel ADOR remains valid.
Hybe shares gained as much as 7.12%, boosting its market capitalization by roughly 915 billion won ($644 million).
The court ruling means that NewJeans are still contractually bound with ADOR until 2029, having signed their contract in April 2022.
Hybe and its sublabels manage some of K-pop’s most popular names, including BTS, Seventeen, and LE SSERAFIM.
The ruling is the latest development in a yearlong legal battle that began when the five-member girl group sought to terminate its contract with Hybe in November 2024, citing contract breaches by ADOR. The announcement wiped about $420 million from Hybe’s market cap at the time.
