Hybe Appoints Lee Jaesang as New CEO, Park Jiwon Resigns (Update)

HYBE Launches Leadership Transition Project Since Early This Year
"Lee Jaesang Nominee is the Right Person to Lead the 'HYBE 2.0' Strategy"

Park Ji-won, CEO of HYBE, has tendered his resignation. Following him, Lee Jae-sang, CSO (Chief Strategy Officer), has been appointed as the new CEO of HYBE.

HYBE announced on the 24th that it plans to officially appoint Lee as CEO after a shareholders' meeting and board resolution.

Lee has been designated as the right person to lead the upcoming ‘HYBE 2.0’ strategy, which will be unveiled soon, and a leadership transition project has been underway since early this year.

After graduating from Yonsei University, Lee joined global management consulting firm Monitor Group, Hyundai Motor Company, and Google before joining Big Hit Entertainment, the predecessor of HYBE, in 2018.

Since then, he has served as Big Hit Entertainment’s CIGO (Chief Innovation Growth Officer), HYBE’s CSO (Chief Strategy Officer), HYBE America’s COO (Chief Operating Officer), and HYBE America’s CEO, playing a pivotal role in HYBE’s business strategy and overall investments.

He notably played a leading role in designing and establishing HYBE’s three core business strategy structures: ‘Label, Solution, Platform,’ and led major mergers and acquisitions (M&A) of leading domestic labels and technology companies, as well as HYBE’s initial public offering (IPO) process.

HYBE stated, "Lee Jae-sang, the appointed CEO, is an entertainment industry expert with comprehensive experience in strategy formulation and operations both domestically and internationally. We expect him to demonstrate his capabilities to help HYBE grow into an advanced entertainment lifestyle platform company based on music and technology."

Park, who has led HYBE for the past three years, decided to resign as CEO, believing it is appropriate for HYBE’s global business expansion and new growth strategies to be driven by new leadership.

Since his appointment in July 2021, Park has more than doubled HYBE’s consolidated revenue and operating profit during his tenure. He is recognized as a CEO who laid the foundation for a multi-label system and global business expansion, achieving milestones such as being the first in the entertainment industry to surpass 2 trillion KRW in revenue.

Park plans to contribute to the company’s growth strategy in the future by leveraging his expertise and network in the convergence of the entertainment industry and technology.

This content was produced with the assistance of AI translation services.