Discord hits BTS agency Hybe's shares, as subsidiary feud festers

Saga has wiped out 11% of the largest K-pop management agency's market value

20240430 NewJeans

K-pop giant Hybe is launching an internal audit into its Ador subsidiary, the creator of hugely popular act NewJeans. © Reuters

LISA KIM, Nikkei staff writer

TOKYO -- Stock in Hybe, the company behind K-pop sensation BTS, has plunged as a feud with one of its powerhouse subsidiaries sows disharmony at the entertainment giant and signals a new risk to its ownership of several music labels.

Hybe's stock has dropped by 11%, or more than 1 trillion won ($727 million) since the saga spilled into public last week, according to Korea Exchange data.

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